Well friends, Jamaicans got a shocker of a news, just under two (2) hours ago.
Bank of Jamaica (BOJ) Governor - Derrick Latibeaudiere, has resigned with immediate effect.
The news media is reporting that the Government of Jamaica has been at odds with him re his management of monetary policy, including the rate at which interest rates are being reduced.
The new Governor, Mr. Bryan Wynter, is to be appointed on December 1,2009.
[Mr. Wynter is former Deputy Governor of the BOJ and former Executive Director of the Financial Services Commission (FSC).
The FSC supervises and regulates the securities, insurance and private pensions industries].
In the interim, Dr. Wesley Hughes will replace Mr. Latibeaudiere as leader of negotiations with the IMF, which Financial Analysts have been saying are at at delicate stage.
(I would like to thank Digi-watts for the use of his Flickr inset photo, entitled "Picture 356", of the Bank of Jamaica, above).
Gillian
Sources Include
1) Power 106 FM , News at 5:00 p.m., October 30, 2009
2) Nationwide Radio's Evening Programme, "Cover Story", October 30, 2009
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