AGP Executive Report

Monetary Policy & Markets: Bank of Jamaica raised its policy rate to 6% to curb inflation, with an investment adviser saying higher yields should pull more money into fixed-income and bond markets. Banking & Payments: Lawyers have filed a Supreme Court motion challenging BOJ’s plan to phase out paper cheques, starting with limits on cheques of $1m+ from Sept. 1. Fiscal Pressure: Jamaica’s sugar-sweetened drinks tax fell short of budgeted collections, with the Independent Fiscal Commission saying the Government’s explanation for the large SCT gap was not enough. Healthcare Labour: The Jamaica Medical Doctors Association warned of possible healthcare disruption if the Industrial Disputes Tribunal doesn’t rule by Oct. 2 in a $31b overtime dispute. Tourism & Tech: Tourism Awareness Week puts AI and digital transformation at the centre of Jamaica’s Tourism 3.0 push. Agriculture & Food Security: CARICOM agriculture ministers and the IDB urged a systems approach—better logistics, financing and climate-resilient investment—to cut the region’s food import bill. Disaster Finance: CCRIF said parametric insurance is key for fast liquidity after disasters, citing recent payouts after Hurricane Melissa. Local Economy & Jobs: Dinthill Technical plans a US$1.4m commercial farming push to generate millions in returns for students and the school’s breakfast programme. Business Support: AFJ says it raised US$12m and deployed US$7.2m for education, health, economic development and disaster recovery ahead of its Oct. 16 Hummingbird Gala in New York. Governance & Infrastructure: A road-repair “blame game” continues between Works Minister Robert Morgan and PNP councillors over parochial road funding and management.

Monetary Policy: Bank of Jamaica lifted the policy rate to 6%, with investment adviser Christopher Thomas saying higher yields should pull more money into fixed-income and bond markets. Capital Markets: Scotiabank Caribbean Holdings raised its Scotia Group takeover offer to minority shareholders from $61.50 to $75 per share; the Oct. 7 minority meeting is set, with voting support already secured by institutional holders. Public Finance & Industry: Parliament approved withdrawal of $455.9m from the Capital Development Fund to support the Jamaica Bauxite Institute for 2026/27, citing funding gaps despite levy-backed operations. Healthcare & Labour: Jamaica Medical Doctors Association warns the Industrial Disputes Tribunal must rule by Oct. 2 or risk disruption, as doctors press for $31b in back overtime versus a $23b government calculation. Education & Social Services: NET is installing safe drinking water and hydration stations in eight Kingston/St Andrew schools at a cost of $28m, targeting drought-affected institutions. Land Administration: Digital land titling aims to lift NLA output to 25,000 titles annually (from about 8,000), supported by a KOICA-funded training push. Regional Trade & Food Security: CARICOM renewed efforts to cut the region’s food import bill by 25% by 2030, calling for better intra-regional logistics and fewer trade barriers. Energy & Exploration: United Oil and Gas says it’s still seeking a partner for its Walton-Morant offshore licence, with prospective resources estimated at about seven billion barrels. Business & Jobs: Jamaica’s MSME ecosystem meeting at JBDC focused on moving firms from capacity building to market readiness and sustainable access.

Monetary Policy: Jamaica’s central bank raised the Bank of Jamaica policy interest rate by 0.5 percentage point to 6%, citing inflation pressures that have stayed above the 4–6% target range for three straight months, with drought-driven food costs and higher petrol/commodity prices among the drivers. Tourism & Airlift: Tourism Minister Edmund Bartlett says Jamaica is in talks with major airline partners to protect and expand airlift as fuel costs, higher fares and Spirit Airlines’ shutdown reshape Caribbean aviation, even as demand remains strong. Regional Food Security: At the Caribbean Week of Agriculture in Trelawny, PM Andrew Holness urged faster, more strategic regulation to unblock agri-investment, while Agriculture Minister Floyd Green called for an action plan to strengthen food security, including blended financing for small farmers and more regional production of inputs. Caribbean Agriculture Finance & Logistics: Green also pushed for overhauling regional agricultural transportation and logistics to move food efficiently and affordably across borders, and CARICOM warned the region’s heavy food import bill is a threat to economic resilience. Governance & Sports: The Jamaica Olympic Association announced a constitutional push to give the diaspora a permanent, formal voice in Olympic administration through non-voting director seats. Diaspora Climate Resilience: Asha Richards’ “connector” work helped secure Montego Bay’s selection for a 24-month climate resilience project with earlier flood warnings for vulnerable communities. Health Workforce: Jamaica welcomed its first cohort of 43 Ghanaian nurses under a four-year bilateral agreement to strengthen the island’s healthcare workforce. Business & Crime (Scam Risk): Justice Minister Delroy Chuck said government is looking at stronger penalties for people who provide “lead sheets” used in lottery scams, linking the proceeds to wider criminal activity.

Tourism Airlift: Jamaica is opening talks with major airlines to protect capacity as fuel costs, higher fares and Spirit’s shutdown reshape Caribbean aviation, with Tourism Minister Edmund Bartlett saying the focus is on securing seats despite strong demand. Tourism Insurance Pressure: A Jamaica Hotel and Tourist Association survey says 6 in 10 Hurricane Melissa tourism claims remain unresolved, with many operators reporting insurer deductions and slow payouts. Caribbean Week of Agriculture: Jamaica hosted the 2026 Caribbean Week of Agriculture, spotlighting food security, agri-business, climate-smart tech and export expansion, as Caricom targets reducing the region’s $13.7b food import bill. Regional Payments: Caricom central banks are advancing the Caricom Payment and Settlement System (CAPSS) for faster cross-border local-currency payments, cutting costs and reliance on foreign reserves. Mining Oversight: Jamaica’s Ministry of Agriculture, Fisheries and Mining is tightening regulation after an Auditor General audit flagged gaps in licensing, inspections, enforcement and rehabilitation monitoring. Jobs & Investment: Lanco is advancing plans for a new St Catherine manufacturing facility, while Sandals says it expects about 7,000 new jobs as it expands beyond the Caribbean. Healthcare Workforce: Jamaica welcomed 43 Ghanaian nurses under a four-year bilateral health agreement to strengthen staffing in public hospitals. Local Business: PriceSmart will open its new Montego Bay club on Oct 1.

Tourism Leadership & AI Push: Jamaica appointed a new tourism director general in the region and, at home, Tourism Minister Edmund Bartlett says Jamaica is accelerating AI for tourism—from multilingual digital concierges and AI-assisted training to an AI chatbot at the Jamaica Tourist Board and “AI clinics” for small operators—under the Tourism 3.0 agenda. Hurricane Melissa Cashflow Strain: A new JHTA survey says two-thirds of hotel insurance claims from Hurricane Melissa are still unresolved, with many operators reporting slow, short settlements and deductions that leave a working-capital hole; some hotels remain closed. Business Accountability: Jamaica Broilers says an independent forensic review found no additional accounting irregularities in its U.S. operations and will move to further internal audit and remediation steps. Education & Recovery Spending: Hanover’s Kendal Primary received a J$146.5m rebuild funded by government and the Caribbean Development Bank, while schools still struggle to restore hurricane-damaged labs. Workforce Readiness: HR leaders are urged to prepare workers for AI-driven workplace change and upskilling. Policy & Diplomacy: Jamaica reiterated at the UN that it is not a walkout country, while OAS states called for renewed support to Haiti’s gang suppression force.

Tourism Tech Push: Tourism Minister Edmund Bartlett says Jamaica is putting AI and digital tools at the centre of its tourism push, aiming for 10 million visitors and US$10b in earnings, with AI-driven planning, digital concierges and workforce training. Tourism Recovery & Jobs: Jamaica’s post-Hurricane Melissa recovery is nearing completion, with over 70% of affected hotel rooms back in operation and the rest expected to return in early 2027. Agriculture & Food Security: Restaurants of Jamaica (KFC/Pizza Hut) pledges US$1m to sponsor the 20th Caribbean Week of Agriculture in Trelawny, reinforcing local sourcing and farmer demand. Legal Cannabis Access: Jamaica’s Cannabis Licensing Authority rolls out transitional permits to help traditional growers enter the legal cannabis sector with lower barriers and hands-on support. Health & Wellness: Minister Olivia Grange urges Jamaican men to “Stop, Check, Act” on prostate health through early prevention and medical advice. Regional Business Signal: CARICOM Private Sector Organization backs the Sandals–Royal Caribbean partnership as a major boost for scaling Caribbean enterprise. Global Policy: Jamaica calls for reforms to the multilateral system at the UN, arguing small states need a more representative, accountable and efficient order.

Tourism & Travel: Jamaica officially launched World Travel Week Jamaica 2026 in Negril, running 10–15 October, with global platforms spanning tourism, hospitality, MICE, cruise, tech and resilience. Hospitality Jobs & Investment: Sandals plans to add 7,000 jobs as Royal Caribbean moves to acquire a 50% stake in Sandals and Beaches in a landmark US$3b deal, expected to close in early 2027. Air Connectivity: Aeromexico will start nonstop Mexico City–Montego Bay flights next March, as Jamaica’s Mexico travel demand continues to lag while Mexico-to-Jamaica traffic rises. Finance & Lending: Access Financial targets growing its loan book by up to 17% toward $7b, with a push into SMEs and green lending via an IDB facility. Insurance & Recovery: A Jamaica Hotel and Tourist Association survey says six in 10 Hurricane Melissa claims remain unresolved, despite a sector push to settle most by end-September. Regulation & Compliance: TPDCo’s Licensing Expo in Falmouth drew tourism operators to speed up licences and meet regulatory requirements. Climate Resilience: Jamaica’s Environmental Protection Levy bill cleared a Senate procedural snag, while drought pressure continues to hit water systems nationwide. Governance & Rights: Rent Services is urging landlords and tenants to seek early help to resolve disputes before they escalate.

Tourism & Investment: Royal Caribbean’s US$3b move to buy 50% of Sandals and Beaches is sparking fresh questions in Jamaica over jobs, worker protections, and how much tourism value stays local, with Tourism Minister Edmund Bartlett pushing for clarity on training, procurement, and local supply links ahead of a likely early-2027 close. Disaster Recovery & Cash Support: Jamaica Red Cross and the Agriculture Ministry will deliver $192m in first-phase livelihood recovery cash grants to 1,600 farmers, fishers and micro-business operators affected by Hurricane Melissa. Health & NCD Prevention: The National Health Fund raised subsidies for key screenings—pap smear, mammogram, ECG and HbA1c—adding about $7.76m annually to boost early detection of cervical cancer, breast cancer, diabetes and cardiovascular disease. Housing & Data for Policy: MEGID is nearing completion of a national survey of informal settlements to feed a new squatter management policy, including decisions on regularisation versus relocation. Science & Innovation: The SRC has been tasked with a 3–5 year strategic plan to strengthen Jamaica’s science, technology and innovation capacity, with a focus on research, skills and commercialising innovations. Entrepreneurship Push: Delano Seiveright urged young Jamaicans to future-proof careers through entrepreneurship and digital tools, including learning to use AI to access wider markets. Global Connectivity: Aeromexico will launch nonstop Mexico City–Montego Bay flights from March 18, 2027, expanding Latin America links for business and leisure travel. Governance & Security (Regional): OAS member states, including Jamaica, called for renewal of Haiti’s Gang Suppression Force mandate and for sustained international support for full deployment.

Tourism & Finance: Tourism Minister Edmund Bartlett welcomed the Sandals–Royal Caribbean partnership, saying it could widen Jamaica’s international reach and spur investment, jobs, and local supplier links as details await regulatory approvals. Capital Markets: Scotiabank says it managed Jamaica’s US$1b international bond issue, with strong demand pushing the 6.25% coupon below initial guidance, while Mayberry notes bonds and fixed income are beating stocks amid high rates and BOJ liquidity measures. Pensions: The Pension Industry Association of Jamaica says its automatic enrolment proposal is now before Cabinet, aiming to lift coverage beyond the current 18% of workers in approved schemes. Digital Skills: The Universal Service Fund will invest $3m in ICT education grants for 12 Jamaicans, backing emerging digital leaders and professional development. Public Services & Cost of Living: JUTC launched the Port Antonio–Kingston Route 710 with strong early interest, while shoppers report drought-driven food price pressure at Coronation Market. Policy & Governance: Opposition Senator Maziki Thame pushed back on claims of faster-than-expected recovery during debate on the Environmental Protection Levy Bill. Caregiving: Government is preparing training for unpaid caregivers as Jamaica’s population ages, using short videos and in-person sessions. Transport Infrastructure: Lucea’s Seaview Drive rehabilitation (J$39m) is set to start Oct 5 to cut flood-prone traffic delays. Health & Society: Jamaica also backed global sickle cell scaling efforts via a UN-linked partnership launch that includes Jamaica.

Tourism Investment: Jamaica’s tourism recovery gets a major boost as Royal Caribbean moves to buy a 50% stake in Sandals for US$3 billion, a deal the PNP says could deepen cruise-to-stay demand and strengthen linkages for farmers, vendors and operators. Public Health & Safety: Jamaica expands care access with a diagnostic centre planned at CASE in Portland to cut the need for families to travel to Kingston for special-needs assessments. Energy Access: JSIF says the National Energy Poverty Reduction Project is tackling the cost and awareness barriers to safe, legal electricity connections, with MPs and councillors urged to flag community needs. Housing & Transport: HAJ breaks ground on Luana Gardens Phase 4 in St. Elizabeth (337 solutions, $3.7b), while JUTC launches a new Port Antonio–Kingston route and moves toward electric range extender buses to reduce fuel costs. Labour & Compliance: NHT’s Employer Connect Expo brings statutory compliance and registration guidance directly to Portmore businesses. Social Protection: Government rolls out training for unpaid caregivers to help keep seniors functional and supported. Legal/Justice: Former Miss Jamaica Gabrielle Henry files suit against the Miss Universe Organisation over a 2025 stage fall and alleged negligence. Regional Diplomacy: Jamaica and Venezuela reaffirm plans to deepen ties after Venezuela sent humanitarian aid following Hurricane Melissa.

Tourism & Investment Deal: Royal Caribbean’s US$3b move to buy 50% of Sandals and Beaches signals a major scale-up for Caribbean hospitality, with CPSO calling it a defining moment for regional private sector. Energy & Finance: Jamaica says US$45m in PetroCaribe payments owed by Venezuela sits in a BOJ segregated account due to US sanctions, highlighting ongoing cross-border payment constraints. Banking & Inflation: Bank of Jamaica losses climbed to $7.7b (Jan–Sep) as it tries to stabilise the Jamaican dollar and contain inflation. Mining Oversight: Mining ministry is overhauling regulation after an audit found major enforcement gaps, including US$13.7m in penalties for unrehabilitated land. Disaster Risk Markets: Catastrophe-bond investors are watching Hurricane Polo’s track as Mexico’s US$175m bond could trigger only under specific conditions. Sports & Business: Sygnus Credit Investments launches a second up-to-$4.5b share buyback, while Jamaica’s Fraser-Pryce pushes for better athlete infrastructure. Public Policy & Resilience: PM Holness warns of higher food and service costs tied to drought, conflict and Hurricane Melissa recovery. Education & Youth: Seiveright urges students to adopt a more aggressive entrepreneurial mindset as AI and e-commerce reshape jobs. Crime & Courts: A St Andrew man was charged after allegedly reversing a $780,000 car payment via bank dispute.

Tourism & Airlift: Jamaica’s flights are filling up, with an average 85% load factor Jan–Aug 2026 and new/expanded service from the US and Canada supporting the tourism recovery. FX Watch: The US dollar closed at $159.15 to one JMD, up 7 cents, per the Bank of Jamaica. Energy/Finance: CIBC Caribbean says it has arranged or invested about US$820m in sustainable finance across the region, including Jamaica clean-energy projects. Climate & Reconstruction: PM Holness urges Jamaicans to build with resilience in mind as a US$5m EU-World Bank grant backs Hurricane Melissa reconstruction capacity. Environment Policy: The House passed the Environmental Protection Levy framework, raising the rate to 0.85% from Oct 1, 2026. Housing & Livelihoods: NaRRA says it’s already on the ground post-appointment, while a World Habitat Day Expo is set for Oct 5 to spotlight housing solutions. Retirement Security: PIAJ will run a new national survey on how Jamaicans are preparing for retirement. Business Growth: MSME support ramps up via JEF/YEA’s business development centre, with Rock Solid cited as a scaling success story. Legal/Access: Little Dunn’s River public access dispute returns to court Friday. Pageant Lawsuit: Former Miss Universe Jamaica Gabrielle Henry filed negligence claims over her 2025 stage fall and injuries.

Tourism Deal: Royal Caribbean Group has agreed to buy a 50% stake in Sandals and Beaches Resorts for about US$3 billion, a move expected to close in early 2027 and reshape Caribbean all-inclusive competition. Judicial Independence: Guyana’s Justice Abel warned that a US visa restriction on judge Gino Persaud could undermine judicial independence, raising rule-of-law concerns. Diplomacy & Trade: President Mahama says he’ll unite Africa, the Caribbean and Latin America to build the world’s biggest trading bloc by linking CELAC, CARICOM and the AU under AfCFTA. CARICOM-India: Foreign ministers backed deeper India-CARICOM cooperation and CARICOM support for India’s UNSC non-permanent seat bid. Public Safety & Governance: PM Holness reiterated “the State is not above the law” amid fatal police shooting concerns, citing INDECOM figures. Business & Markets: JSE Index rose 1,115 points on Wednesday; Seprod surged and Rusal is reportedly exploring sale of Jamaica/Guyana assets. Legal Spotlight: Former Miss Universe Jamaica Gabrielle Henry filed a negligence lawsuit over her 2025 stage fall and alleged brain injuries. Transport: JUTC launched a new Kingston–Port Antonio route, stressing it won’t replace private operators. Health & Community: Blue Run 5K drew a record turnout to boost prostate awareness, while school recovery efforts are expanding to include students’ mental health.

Fuel & Cost of Living: Petrojam says gasoline prices rise effective Sept. 24, with 90-octane up $3.06 to $220.38/litre and 87-octane up $3.06 to $212.68/litre, while diesel falls $0.25 to $249.38/litre. Tourism Investment: Royal Caribbean Group confirmed a landmark deal to buy a 50% stake in Sandals and Beaches Resorts for about US$3B, valuing the brand at roughly US$6B, with closing expected in early 2027. Public Transport: JUTC launched Route 710, linking downtown Kingston to Port Antonio (via St. Thomas), with an earlier Port Antonio departure at 5:30am to reach Kingston by 8:30am. Business & Markets: Seprod shares jumped nearly 20% after it proposed a five-for-one stock split and sought authority to issue more shares, including via a potential additional public offering. Agriculture & Water Security: Agro-Invest is tendering an extra 93 acres at Ebony Park Agro-Park, backed by upgraded irrigation works, while Agriculture Minister Floyd Green added $50M to drought interventions focused on storage tanks and drip irrigation. Reparations & Governance: Jamaica’s reparations petition against Britain has been referred to the Privy Council, a move Prof. Verene Shepherd says is not “frivolous” but grounded in history. Community & Infrastructure: Westmoreland’s Y’Menettes (The Source Centre) was restored with a US$50,000 grant, and St. Andrew West Rural roads were rehabilitated under SPARK.

Tourism & Investment: Royal Caribbean agreed to buy a 50% stake in Sandals Resorts International for about US$3b, aiming to expand all-inclusive resort offerings; the deal is expected to close in early 2027 and adds Sandals’ 20 resorts across the Caribbean, including Jamaica. Disaster Recovery & Public Finance: Prime Minister Holness defended a $1.2b spend on foundations for ~2,500 semi-permanent homes after Hurricane Melissa, arguing cheaper bases wouldn’t deliver resilience; the World Bank/EU also signed a US$5m grant tied to reconstruction support. Monetary Policy & Food Prices: Bank of Jamaica researchers say global food shocks hit Jamaica’s inflation more persistently than oil, recommending closer tracking of commodity-specific risks and tighter coordination with Statin and agriculture agencies. Financial Sector & Pensions: The Pension Industry Association hired Market Research Services to map how Jamaicans save and plan for retirement, especially informal workers; Tourism Minister Bartlett pushed employers to boost participation in the Tourism Workers Pension Scheme. Business & Markets: FESCO disclosed a stake in WIP Energy as it grows its private equity portfolio, while Jamaica Broilers reported no new accounting irregularities after a forensic review amid its $6.8b net loss. Local Economy & Governance: Jamaica Chamber of Commerce re-elected Emile Leiba and flagged workforce readiness and MSME development as priorities.

M&A Watch: Royal Caribbean is reported to be in talks to buy a majority stake in Jamaica-founded Sandals Resorts International in a deal valuing Sandals at over US$6 billion, with reports split between a majority buyout and a US$3b plan for a 50% stake—either way, the news hit Royal Caribbean shares hard. Tourism & Tech: Jamaica will spotlight AI and digital transformation during Tourism Awareness Week 2026, pushing its “Tourism 3.0” agenda on how tech can reshape destination management and workforce skills. Hospitality Expansion: Hotel Equities opened Kimpton Tres Ríos All Inclusive in Mexico’s Riviera Maya, signaling continued Caribbean and Latin America growth. Agri & Water Security: Minister Floyd Green says farmers will keep receiving free trucked irrigation water while drought persists, alongside upgrades to irrigation infrastructure in Clarendon. Water Infrastructure: CDB and the Jamaican government formalized a US$36m rural water programme to upgrade six water-supply schemes across five parishes. Finance & Payments: Bank of Jamaica says remittance services are consolidating, with fewer licensed and active agencies, while inflows remain significant. Business Continuity: The Accountant General’s Department is running life certificate pop-up drives to prevent pension disruptions. Tourism Connectivity: Jamaica expects direct Mexico–Jamaica flights to start March 18 next year, boosting access via Mexico City.