GlobalMarkets newspaper names Shaw - Caribbean Finance Minister of the year

Publication says Shaw has an “impressive roster of economic reforms”

Jamaica’s Minister of Finance and the Public Service Audley Shaw has been named Finance Minister of the year for the Caribbean by GlobalMarkets newspaper.

The publication focuses on the International Monetary Fund (IMF), World Bank, European Bank for Reconstruction and Development, Asian Development Bank, and the Inter-American Development Bank annual meetings

Managing Editor of the publication, Toby Fildes, noted that Shaw has an impressive roster of economic reforms that was started by the previous Administration, which demonstrates Jamaica’s political stability.

“You have kept a tight hand on government spending – fiscal surplus is very high – which will help whittle down government debt,” Fildes said in a letter to the Minister, dated August 24.

The editor added that Jamaica has been cited as a stand-out performer on its fiscal targets and the new Government is now targeting faster growth.

“These measures are paying off. The Minister recently approached the market with a liability management exercise. In addition, the country’s ratings have been on the up since 2014, with Moody’s lifting the country to B3 in November,” he noted.

Shaw, in accepting the award on behalf of Prime Minister Andrew Holness, the Government of Jamaica and the people, said he felt honored and looks forward to collecting it in Washington DC in the United States in October.

Last year, GlobalMarkets recognized Bank of Jamaica (BOJ) Governor, Brian Wynter, as the 2016 Governor of the Year.

At that time, the newspaper’s editorial committee cited Wynter’s admirable stewardship during difficult times in the international financial markets, acknowledging him as a “well-respected figure, who has been stable and solid amid change of Government”.