AGP Executive Report

Peace & Security: Jamaica is being flagged as the most peaceful country in the Caribbean, with the Global Peace Index placing it 70th globally, while Security Minister Horace Chang told Parliament murders are down 23% year-on-year and Jamaica is on track for fewer than 600 murders in 2026. Capital Markets: The JSE suspended trading in Kintyre Holdings and Atlantic Hardware & Plumbing after both missed audited financial filings for year-end 2025, keeping investors off the Junior Market until reports are submitted. Transport Costs: Jamaica’s full 16% PPV fare increase took effect July 1, completing the two-stage adjustment meant to help operators manage rising fuel and maintenance costs. Housing Finance: From July 1, NHT policy changes boost housing access for contributors 35 and under, including raising the reserved allocation to at least 20% and allowing young contributors to advance up to $2 million of their entitlement for deposits. Business Resilience: The Office of the Government Trustee urged MSMEs to keep proper records, watch cash-flow warning signs, and seek help early to avoid failure. Public Services & Inclusion: The Education Ministry warned schools not to deny students access over registration or fee issues, stressing forms should be provided at minimal cost and incidentals can be paid later. Disaster Readiness: NIC says it’s stepping up hurricane-season preparedness through preventative maintenance and system stress-testing lessons from Beryl and Melissa.

Monetary Policy & Banking: The Bank of Jamaica will withdraw another J$20 billion via a 5.7% certificate of deposit auction as it warns inflation may stay above target, while Scotiabank moves to stop accepting and issuing cheques of $1M+ from Sept. 1 to push digital transfers. Crypto & Financial Flows: BOJ says J$8.9b in crypto-related transactions moved through regulated deposit-taking institutions over 2020–June 2025, even without local crypto exchanges, keeping risk low but requiring ongoing monitoring. Tourism & Business Growth: Tourism Minister Edmund Bartlett says Jamaica is upgrading infrastructure and pushing a “tourism economy” approach, while JTB targets more cruise passengers converting into overnight visitors; JHTA also honoured sector leaders, including S Hotels CEO Christopher Issa as Hotelier of the Year. SME & Community Enterprise: SDC staged a St. Thomas Economic Village to connect grassroots entrepreneurs with consumers and government services, and beauty entrepreneurs were urged to formalise to unlock financing and digital commerce. Labour Market: Statin reports unemployment edging up to 3.7% as employment falls and labour force participation cools. Cybersecurity Law: Dr. Andrew Wheatley says Jamaica is developing a new national cybersecurity law with a clear drafting timeline and a statutory National Cybersecurity Directorate. Hurricane Resilience: A regional webinar urged businesses to treat resilience as a leadership issue, citing major hurricane GDP losses and the need for stronger continuity planning.

Jamaica Macro: STATIN data shows the economy contracted 4.1% in Q1 2026, with goods output down 7.3% (agriculture -18.3%, mining -23.5%) and services down 3% (accommodation/food -16.6%); finance and insurance was the only services bright spot (+2.9%). Jobs & Recovery: Unemployment edged up to 3.7% as employment fell 25,700 and the labour force shrank, with Hurricane Melissa still weighing on labour participation. Tourism Governance: Tourism Minister Edmund Bartlett says Jamaica will modernize oversight by creating a new Tourism Authority and replacing outdated laws to support the Tourism 3.0 agenda. Business & Trade: Small businesses are being urged to use Jamaica’s insolvency regime as a recovery tool, with early action key to reorganisation. Tax & US Risk: A proposed digital services tax could face a US tariff threat if Donald Trump follows through on a 100% levy tied to such measures. Labour Rights/Equity: CARICOM will convene to address discrimination and marginalisation affecting Rastafarians, including plans for a regional committee. Local Economy Hits: A Falmouth blaze destroyed a clothing and fabric outlet just as back-to-school shopping ramps up. Markets: The US dollar closed at $158.51. Food Retail Expansion: KFC is set to open near Mary Brown’s Corner in 2027.

Monetary Policy Watch: Bank of Jamaica kept its policy rate at 5.5% as inflation stays within the 4–6% target range, but warned the outlook is still uncertain and prices could rise further amid global and commodity volatility. Energy & Jobs: Petrojam named Danville Walker as General Manager effective July 1, pointing to a push on HSE oversight and digital transformation. Oil Exploration: United Oil and Gas said it remains bullish on Jamaica’s petroleum potential, arguing key formations haven’t been fully tested and citing oil seeps and new geochemical work. Tourism & Business Growth: Sandals rolled out refreshed dining concepts across its Jamaican resorts as part of a US$200M transformation, while JHTA welcomed O’Brian Heron as its new president. Agriculture Resilience: Agriculture Minister Floyd Green reported 190,000 tonnes of domestic produce in Q1 2026, with vegetables and potatoes rebounding after Hurricane Melissa. Local Economy & Finance: Red Stripe launched its Digital Backbone platform to modernise operations and improve productivity. Public Finance & Risk: A commentary warned Jamaica’s economy could be hit if more people stop reinsuring after frustration with property insurance. Education & Skills: Camperdown Primary teacher Duval Ebanks won ICT Innovation Teacher of the Year for early coding and classroom tech use. Environment & Clean-Up: Kingston Harbour Cleanup Project said it has stopped nearly 6 million kg of waste from entering the harbour.

Monetary Policy Watch: Bank of Jamaica kept its key rate at 5.5%, warning inflation could rise further, with core inflation climbing to 4.7% in May—meaning borrowers may not see relief soon. Energy & Leadership: Petrojam named Danville Walker as General Manager effective July 1, with a focus on HSE oversight and digital transformation. Tourism & Jobs: Jamaica’s tourism push got a boost as Minister Edmund Bartlett welcomed new JHTA president O’Brian Heron, while Minister Matthew Samuda urged stakeholders to market Jamaica as a nature-positive destination. Business Modernisation: Red Stripe launched its Digital Backbone platform to modernise brewery operations and improve productivity. Agriculture Resilience: Agriculture Minister Floyd Green said domestic produce hit about 190,000 tonnes in Q1 2026 despite Hurricane Melissa, with strong gains in vegetables and potatoes. Financial Inclusion & Enforcement: FID charged two men in the first prosecution under the Microcredit Act for allegedly offering microcredit without a licence. Local Finance & Growth: JMMB officially opened its relocated May Pen branch at Millennium Mall. Tourism Product Development: A Mi Mek It Jamaica opened in Montego Bay, offering an “authentic backyard” experience where visitors make their own souvenirs. Community & Education: JN Foundation opened applications for 2026 PEP scholarships, targeting secondary education costs. Clean Environment: Kingston Harbour Cleanup Project says nearly 6 million kilograms of waste have been intercepted since launch.

Tourism & Environment: Water Minister Matthew Samuda urged Jamaica’s tourism stakeholders to market the country as a “nature-positive” destination, arguing conservation should expand offerings beyond sun-sea-sand into mountains, rivers and hiking trails. Fisheries Recovery: Agriculture Minister Floyd Green says the Boat and Equipment Retooling Initiative will expand over five years, adding $66M this year to replace boats and engines for fishers affected by Hurricane Melissa, with India also contributing 20 more units. Public Health at the Grassroots: The $500M CARE Fund is inviting local organisations to drive healthier lifestyles and prevention-focused community action, with Health Minister Christopher Tufton stressing engagement as the key to reducing illness. Business & Investment: United Oil and Gas is seeking a strategic investor/partner to fund its offshore Jamaica exploration after reporting a net loss and ongoing funding constraints. Regional Deals: Jamaica and Guyana signed multiple MOUs covering agriculture, defence/security and financial services, deepening cooperation across development priorities. Tourism Industry Updates: Sandals outlined refreshed dining concepts across its Jamaica resorts as part of a US$200M transformation, with a renewed emphasis on local ingredients and island storytelling. Education & Fraud Alert: The UWI warned the public about a fraudulent website using its name and branding to collect personal data.

Jamaica–Guyana Dealmaking: Jamaica and Guyana signed multiple MOUs in Georgetown covering agriculture, defence and security, finance, housing, technology and climate resilience—an effort to deepen strategic ties and support regional food and security priorities. Tourism Policy Pressure: Jamaica Hotel and Tourist Association warns the Government’s proposed GCT increase on tourism activities (from 10% to 15%) could hurt operators locked into older contracts, while also urging faster investment in roads, drainage, water and other resort-town infrastructure. Banking Ownership Shift: Scotiabank plans to buy the remaining stake in Scotia Group Jamaica and take the company private, raising the bigger question of who controls Caribbean banking and how the region stays plugged into global finance. Wellness Brand Push: JACANA unveiled a Caribbean Wellness Platform built around its organic farm in St. Ann, aiming to scale Jamaica’s natural-healing tourism as the global wellness market surges. Creative Economy Spotlight: St Kitts’ Creative Power Arts Convention 2027 will feature Machel Montano and Stephen “Di Genius” McGregor as facilitators, boosting regional music talent pathways. Security & Cash Loss: Police are investigating an ABM break-in at Scotiabank’s Portmore location in which thieves reportedly stole millions in cash. Earthquake Update: A 4.1 magnitude quake shook eastern Jamaica (including the Corporate Area) with no reported damage or injuries.

Tourism Policy: JHTA is pushing back on a proposed GCT hike on tourism activities, warning operators are locked into long-term contracts and calling for a better path; Infrastructure & Competitiveness: JHTA also warns Jamaica could lose tourism edge unless roads, drainage, water and other resort-town systems are upgraded fast; Regional Housing Deal: Guyana says it will build 300-plus homes in Jamaica under hurricane recovery support, using local construction capacity; Banking Ownership Shift: Scotiabank moves to buy the remaining stake in Scotia Group Jamaica and take it private, raising questions about who controls Caribbean banking; Insurance Costs: A proposed Financial Services Commission fee increase could eventually pressure home and motor premiums as insurers try to recover higher regulatory costs; Housing Finance: NHT’s Advance Deposit Loan starts July 1, offering eligible young adults up to J$2 million toward a deposit; Charity Compliance: Civil society groups warn a new NPO Act could add burdens and threaten volunteer-run charities unless they’re meaningfully consulted; Forensic Skills: Revenue investigator Tahje Wallen wins an ICCR scholarship for an MBA in forensic accounting in India, boosting Jamaica’s fraud-fighting capacity.

Non-Profit Crunch: Charity leaders warn Jamaica’s proposed Non-Profit Organisations Act could raise compliance burdens and push volunteer-run groups out of business, while also cutting support to communities that rely on them. Regulatory Friction: A separate case highlights delays and back-dating in charitable registration certificates, leaving groups scrambling to renew. Housing & Construction: PM Andrew Holness says Jamaica is looking to Guyana’s faster approvals as it targets a major housing push, citing contractor and skills bottlenecks plus slow planning and approvals. NHT Deposit Boost: The NHT Advance Deposit Loan starts July 1, offering eligible young adults up to J$2 million toward a home deposit. Insurance Cost Pressure: Proposed Financial Services Commission fee increases could add about J$500 million in regulatory costs for general insurers, with possible knock-on effects for premiums. Tourism & Trade Links: Jamaica adds a direct Medellín–Montego Bay flight to deepen Latin American arrivals, while Canada and CARICOM renew a partnership focused on security, climate and trade. Aviation Reform: Senate approval for the Civil Aviation (Amendment) Act, 2026 aims to align Jamaica’s aviation laws with international standards.

Jamaica–Guyana Deal-Making: Prime Minister Andrew Holness and President Irfaan Ali signed a sweeping MOU to turn shared goals into practical cooperation across energy security, finance, defence and tourism, with an execution blueprint aimed at faster, real-world integration. Tourism & Air Connectivity: Jamaica launched a new direct Wingo flight from Medellín to Montego Bay, targeting Colombia and wider South America to diversify arrivals. Housing & Planning: In Boston, the JPNC pushed back on proposed affordable units at 3326 Washington St., urging longer review timelines and tighter financial scrutiny before any vote. Young Homebuyers: Jamaica’s NHT Advance Deposit Loan will let eligible contributors draw up to J$2 million upfront for deposits starting July 1. Education & Skills: A J$3.7-billion STEAM Academy contract was signed for Bernard Lodge, while STETHS plans a new mechatronics/robotics lab and expanded sixth-form offerings. Business & Markets: FESCO redeemed an unsecured bond early and moved to delist it after repayment; Tropical Battery says it’s expanding US reach via an Amazon storefront. Public Health: Kingston and St Andrew schools will get hydration stations in July under a healthy-students initiative.

Jamaica–Venezuela Solidarity: Tourism Minister Edmund Bartlett sent condolences to Venezuela after the June 24 earthquakes, pledging support as the country moves into rescue and recovery. Health & Social Funding: The CARE Fund will target mental health and other pressing issues, including period poverty, youth social media addiction, substance abuse prevention, obesity reduction and caregiver training. Energy Progress: Jamaica’s PM Andrew Holness was briefed on Guyana’s Gas-to-Energy project, with engineers working round-the-clock to deliver electricity to the grid by December 2026. Tourism Workers’ Retirement: Tourism Minister Bartlett says the Tourism Workers Pension Scheme is now worth J$5.3B, with 10,000+ workers registered and benefits starting at age 65 after vesting. Food Prices Watch: Market Bag reports onions up to $400/lb and lettuce at $600 as households feel higher grocery costs. Regional Cooperation: Jamaica and Guyana signed multiple MoUs, including a new energy working group, plus deals across agriculture, security, tourism and financial services. Public Safety & Governance: Government reaffirmed Project STAR with a new $200M partnership to expand psychosocial support, youth mentorship and community mobilisation in priority communities.

CARICOM & Trade/Finance: Guyana and Jamaica signed several MOUs to deepen cooperation across Agriculture, Financial Services, Energy and Security, with a technical team to follow up on deeper integration. Tourism & Local Economy: Jamaica’s tourism push got a fresh boost with Tourism 3.0, positioning tourism as an economy-wide engine that keeps more value in Jamaica through local suppliers and workers. Governance & Business Confidence: Pressure is mounting on PM Holness to remove Andrew Wheatley from Cabinet as PSOJ joins calls for action pending Integrity Commission allegations. Central Banking & FX: The Bank of Jamaica injected US$30m into the forex market, but demand outpaced supply, leaving US$53m excess demand. Capital Markets: The JSE Micro Market is now open for small firms, with about 10 companies preparing to raise J$50m–J$100m. Energy/Exploration: United Oil & Gas says it advanced Jamaica exploration under the Walton-Morant licence, extended to Jan 2028, despite a 2025 loss. Education & Health: Kingston and St Andrew schools will get hydration stations to cut sugary drinks and support healthier habits. Security/Community: Government reaffirmed Project STAR with a new $200m public-private partnership targeting youth mentorship, family strengthening and violence prevention.

Hurricane Recovery & Resilience: State Minister Zavia Mayne says Jamaica’s Hurricane Melissa recovery is “forward-thinking,” pushing NaRRA to rebuild faster and stronger while restoring confidence and livelihoods. Education & Infrastructure: St Elizabeth Technical High School gets about $310 million for repairs, with officials targeting full class restoration by September. Public Finance & Regulation: BGLC will roll out a Central Monitoring System to modernise oversight of a growing gaming sector, moving from manual checks to near real-time monitoring. Tourism & Business Leadership: Sandals promotes O’Brian Heron to senior corporate director, operations, as the company highlights internal leadership and standards across its portfolio. Crime & Security: Police report record drug seizures—over 5,100 kg of cocaine and major ganja hauls in 2026—fuelled by targeted operations. Governance Pressure: PSOJ renews calls for PM Holness to remove Dr Andrew Wheatley from Cabinet pending Integrity Commission charges. Healthcare Tech: Health Ministry launches Chronic Care Connect and the Jamaica Moves app to strengthen management of non-communicable diseases. Markets: Forex ends at J$157.69 per US$1.

DBJ Recovery Finance: Five more Approved Financial Institutions have joined the Development Bank of Jamaica’s M5 Business Recovery Programme, bringing approvals to over $2b and $846m already deployed to 66 hurricane-impacted businesses, with loans up to $50m at 8% for up to 10 years. Construction Supply: Government has approved the importation of 660,000 metric tonnes of cement to stabilise supply and protect local production, including 170,000 tonnes already authorised plus 490,000 tonnes added via Cabinet decision. Tourism 3.0 & Linkages: Tourism Minister Edmund Bartlett says ALEX has connected 2,000+ farmers to tourism demand, selling 2.57m kg of produce, while Jamaica’s Tourism 3.0 plan pushes local-first procurement and AI-enabled transformation. Ocean Agenda Prep: A planning secretariat will be set up to prepare Jamaica to host the Our Ocean Conference in Montego Bay in 2029, with thousands of delegates expected. Business Standards Push: Jamaican firms are being urged to embrace accreditation to build trust, meet international standards, and reduce trade barriers. Public Safety & Economy: Police report record cocaine seizures—over 5,100 kg in the first half of 2026, worth about $3b—aimed at disrupting criminal syndicates.

Tourism 3.0: Minister Edmund Bartlett’s new Tourism 3.0 plan reframes tourism as a national economic platform, backed by a proposed new Tourism Authority, a “Local First” procurement push for farmers and micro-businesses, and AI-enabled reforms to retain more value in Jamaica. SEZ & Exports: Walkerswood’s parent, AML, is investing about US$1.5m to expand farming, processing and output under Jamaica’s Special Economic Zone regime, aiming to multiply productive capacity and boost exports. Cost of Living: Petrojam says gasoline prices will fall from June 28, with diesel also down, easing near-term pump pressure. Minimum Wage: Parliament approved a $1,000 minimum wage increase to $17,000 per 40-hour week effective July 1, alongside higher overtime and double-time rates. Health System: Health Minister Dr. Christopher Tufton orders urgent inspections and interim fixes after JMDA raised concerns about medical interns’ overcrowding, understaffing and unsafe living/working conditions. Public Finance: The Ministry of Finance issued guidance for bidders on quarterly public auctions, including registration and deposit requirements. Security & Borders: FNID reports cocaine seizures in the first half of 2026 exceeding totals from 2016-2021, while Customs flags a growing MDMA/ecstasy detection trend at ports.

JSE Micro Market: Jamaica Stock Exchange launched a Micro Market to help micro and small enterprises raise J$10–50 million for growth, with a tax holiday for the first five years after listing and a 50% concession in years six to 10. Tourism Recovery & Policy: Tourism Minister Edmund Bartlett reported Jamaica welcomed 1m+ stopover visitors and 664,000 cruise passengers up to May 2026, even with only 70% of inventory after Hurricane Melissa, while pushing Tourism 3.0 reforms including a new Tourism Authority and a Tourism Supply Logistics Centre as a special economic zone to cut import leakage. Construction & Cement Supply: Industry State Minister Delano Seiveright told Parliament Jamaica has no expectation of a prolonged cement shortage, citing monitoring, warehousing expansion by Caribbean Cement, and ongoing supply-demand management. Monetary Policy: Bank of Jamaica set to remove another J$35 billion from circulation via a 5.75% certificate of deposit. Macroeconomic Headwinds: STATIN said real GDP fell 7.3% in Q4 2025 and another 5.9% in Q1 2026. Security Beyond Crime: SSP Stephanie Lindsay urged Jamaica’s security agenda to cover energy, health, climate, food and economic security. Fraud Watch: NHT warned the public about fake social media pages offering non-existent housing benefits.