IMF Staff Completes Review Mission to Jamaica
September 20, 2019 The IMF team congratulates Jamaica for the successful completion of the country’s economic reform program supported by the IMF’s Stand-By Arrangement. The authorities’ exemplary program implementation has resulted in a stronger economy with significant reduction in vulnerabilities, and increased job creation. Broad-based ownership across stakeholders and the continued commitment to public accountability through the Economic Programme Oversight Committee, have been hallmarks of Jamaica’s approach to economic reform. Sustaining resilient and inclusive growth will require addressing deep-rooted societal challenges such as crime, governance, access to finance, disaster preparedness and resilience, and providing greater social support for the
Sygnus reports 36% increase in year end net profit
September 16, 2019 In United States dollars (except where it is indicated otherwise) Sygnus Credit Investments Limited, for the nine months ended June 30, 2019 reported Interest Income of US$3.17 million 171% increase on the US$1.17 million recorded in 2018. For the quarter, Interest Income rose 104% to US$727,583 (2018: US$356,542). The Company also reported Fair Value Gains of US$135,429 (2018: US$644,326) and Participation fees of US$50,944 (2018: US$23,413). Management noted the performance of Fair Value Gains, “reflected investments in two Portfolio Companies with profit sharing participation, in addition to regular investment income that is earned.” As such, Sygnus reported year
AFS to focus on EPS growth
September 11, 2019 Shareholders were greeted by the Chairman of AFS, Mr. Rex James, who formally introduced the company’s board of directors before handing the proceedings over to Chief Executive Officer (CEO), Mr. Marcus James. Prior to Mr. Marcus James making his presentation, the CEO thanked shareholders for attending the meeting and placing their confidence within himself and his management team. The CEO stated that, “we have set our sights on being a best in class microfinancing institution with the goal of offering customers empowering financial solutions, providing our key members with an inspiring environment and our shareholders with