The Government of Jamaica has begun the process of selecting a new governor for the Bank of Jamaica (BOJ), as current governor Richard Byles prepares to complete his term in August 2026.
Minister of Finance and the Public Service Fayval Williams made the announcement on Monday, outlining that the selection process will focus on identifying a candidate capable of strengthening economic stability, modernising the financial system, and expanding access to digital payments across the country.
According to a statement from the ministry, the incoming governor will be expected to advance key policy priorities, including accelerating digital financial inclusion, particularly for underserved communities, while ensuring that gains from monetary policy translate into broader economic benefits such as job creation and increased investment.
To support the process, a four-member search committee has been appointed to identify and shortlist candidates for the post.
The committee includes Calvin McDonald, a former International Monetary Fund (IMF) deputy secretary with nearly three decades as a staff economist at the institution; Ambassador Kathryn Phipps, an attorney-at-law who has practised in Jamaica and several Caribbean jurisdictions; Professor Delroy Hunter, the Serge Bonanni Professor of International Finance at the University of South Florida and a Commonwealth scholar with published research in leading finance journals; and Minna Israel, a senior financial services executive with extensive experience in organisational transformation and advisory work at the University of the West Indies.
The committee will evaluate applicants and present a shortlist of suitable candidates for submission to Cabinet. The final recommendation will then be forwarded to the Governor General for appointment in line with the provisions of the Bank of Jamaica Act.
The Ministry of Finance said the structured selection process is intended to ensure continuity of leadership at the central bank while reinforcing its mandate of maintaining financial stability and supporting sustainable economic growth.
