Prime Minister Andrew Holness has announced that a successor for the finance minister position has been chosen following Dr Nigel Clarke’s upcoming appointment as Deputy Managing Director of the International Monetary Fund (IMF) in October.
However, Holness did not disclose the name of the new finance minister in the statement released to the media on Monday morning.
“The Government has selected individuals to succeed Nigel Clarke in both his ministerial and parliamentary roles, ensuring a smooth transition in both areas. Further details will be provided in due course, and the public can expect policy continuity and the maintenance of economic progress,” Holness stated.
Responding to the announcement of Dr Clarke’s appointment, Prime Minister Andrew Holness said “this is a historic and important development in which I take immense pride”.
Holness highlighted that the IMF plays an indispensable role in the world economy, promoting global financial stability and monetary cooperation in service of its 190 member countries.
Pointing out that the position of deputy managing director was global in scope, Holness noted that “no citizen of Jamaica, the Caribbean or Central America has ever before served at this level in the IMF in its 80-year history”.
“It is to the benefit of Jamaica and the Caribbean region for one of our nationals to serve in such a consequential global position,” the prime minister added.
Continuing, Holness stated that “this development is, therefore a tremendous net gain for Jamaica and the Caribbean. Furthermore, this elevation of Minister Clarke is demonstrative of the depth, strength and capacity of my administration”.
“As minister…he has brought creativity, imagination and passion to his job and has had many policy achievements,” said Holness.
Clarke has been credited with the “substantial improvement” in Jamaica’s macro-economic fundamentals, including the abolition and reduction of distortionary taxes, central bank independence, creation of the Fiscal Commission among others.
