WASHINGTON, D.C. – Jamaica’s Minister of Finance and Public Service, the Hon. Audley Shaw was awarded the Finance Minister of the Year for the Caribbean 2016 by GlobalMarkets Newspaper at GlobalMarkets Annual Awards Reception at Willard Intercontinental Hotel in Washington, DC. on Saturday, October 14.
Minister Shaw was among fifteen other finance ministers and governors of banks that was awarded.
In presenting the award, GlobalMarkets Managing Director John Orchard said Minister Shaw was presented the award for beating expectations and being focused on growth and stability. The results of Jamaica’s economic performance are very impressive. The fiscal performance stands out and the new administration has run a large primary surplus.
Mr. Orchard added that Minister Shaw, though he had a tough mandate, had inherited the timeless task of pushing through the restoration of economic reform launched by the previous administration and necessitated by the country’s debt to GDP ratio.
Mr. Orchard continued, “His focus on cutting debt with an aggressive program of consolidation including overhauling the tax system and jettisoning some forty-percent of state-owned companies and to top it off, he is carrying a five percent GDP growth rate within four years. With such a performance, Minister Shaw, you are more than worthy of receiving the Finance Minister of the Year Caribbean award and we are more than honored to present it to you.”
In accepting the award, Minister Shaw said, “I am honored and humbled that the Editorial Committee of GlobalMarkets Newspaper has selected me as the 2016 Finance Minister of the Year for the Caribbean. This award is a welcome recognition of the tremendous hard work and sacrifice that the people of Jamaica have been making and an affirmation that our economy is now firmly on a path to growth and wealth creation.”
Minister Shaw told the large audience that “I am particularly heartened to receive this award as I am particularly heartened to receive this award as my Government, led by Prime Minister Andrew Holness, was only given the responsibility for the stewardship of our economy in February 2016. At that time, I was charged with the responsibility of leading the team at the Ministry of Finance on this ambitious and challenging journey of economic transformation. Without their expertise, professionalism and unwavering dedication, I would not be here accepting this award today.”
The Finance Minister paid tribute to the multilateral development partners who provided Jamaica with significant support as the country embarked on a path of reforms that have further enhanced our overall fiscal management; improved the efficiency and fairness of our tax system; and generally modernized the operations of the entire public sector.
Minister Shaw also thanked staff at the Bank of Jamaica, other government agencies, as well his own staff at the Ministry of Finance of the Government of Jamaica.
GlobalMarkets (formerly known as Emerging Markets) is the newspaper of record at the IMF/World Bank, European Bank for Reconstruction & Development (EBRD), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Inter-American Development Bank (IADB) annual meetings.