AGP Executive Report

NaRRA Headquarters Cost Clash: Jamaica’s PNP is pushing for full disclosure of NaRRA’s five-year Digicel Building lease at US$726,000 a year, arguing taxpayers are already paying $4.5m monthly for another government building and questioning why NaRRA wasn’t placed in existing state space. Banking & Markets: Analysts expect Scotia Group Jamaica’s minority shareholders to accept the revised buy-out price of $75 per share (up from $61.50), noting it’s above the current market price. Food Safety & Trade: The US USDA issued a public health alert for specific Grace canned chicken Vienna-style sausages illegally imported from Jamaica, urging consumers not to eat affected batches; separately, GraceKennedy Foods recalled certain Grace Tropical Rhythms Fruit Punch 1L batches in multiple markets. Water & Utilities: The National Water Commission warned further restrictions may come for Kingston & St Andrew as Hermitage Dam and Mona Reservoir levels keep falling, with possible alternate-day supply schedules. Tourism & Business: Palladium Hotel Group appointed Andy Nightingale as regional commercial director for Southeast Asia, while Jamaica’s S Hotel Montego Bay earned a top-2 ranking in Condé Nast Traveler’s 2026 Readers’ Choice Awards for the Atlantic/Caribbean/Central America region. Regional Digital Security: Belize and Colombia joined Caribbean partners, including Jamaica, for training to strengthen cross-border cybercrime prevention and response.

Banking Liquidity: Bank of Jamaica injected another J$5b into banks for 14 days, with the average rate rising to 6.47% as the central bank’s benchmark sits at 6%. FX Pressure: Demand for US dollars stayed ahead of supply, with banks seeking US$72.77m but BOJ supplying US$30m, leaving excess demand and keeping the Jamaican dollar under strain. Water Security: NaRRA moves toward operations on Nov 1 after signing a five-year lease for its Digicel HQ, while the Water Ministry outlines a 10-year plan to cut non-revenue water and modernise the 80-year network. Tourism Insurance: The Insurance Association of Jamaica says it’s working to resolve Hurricane Melissa claims, after hotels reported many settlements still unresolved. Healthcare Pay Dispute: An IDT ruling backs doctors on emergency duty payments, and union leaders say implementation talks with Government should start now. Anti-Corruption Consultations: The Integrity Commission opens a six-week public input window for Jamaica’s National Anti-Corruption Strategy (Oct 1–Nov 16). Regional Trade Linkages: Edmund Bartlett wants Jamaica’s ALEX expanded into a Caribbean-wide agrolinkages platform to connect farmers to tourism buyers.

Banking & FX: The Bank of Jamaica injected another $5b into the banking system for 14 days, with the average rate rising to 6.47% as liquidity needs outpaced requests. Currency pressure: Demand for US dollars stayed ahead of supply, with banks and cambios seeking US$72.77m while BOJ supplied US$30m, leaving unmet demand of US$52.8m. Water & resilience: The OUR is urging stronger, coordinated long-term planning in Jamaica’s water sector as drought worsens service unevenness; meanwhile, Corporate Area sources remain low, with Hermitage Dam at 39.7% and Mona Reservoir at 33%. Caribbean finance expansion: BancAtlantic Capital, backed by Grupo Financiero Atlántida, plans a four-country outreach starting in Suriname and Guyana, with Jamaica on Oct. 8. Regional trade & food exports: Caribbean ministers pushed to cut barriers to intra-regional agricultural trade, flagging standards harmonisation, shipping costs, and logistics as key bottlenecks. Tourism & agribusiness link: Edmund Bartlett called for a Caribbean Tourism Agricultural Logistics Centre to better connect farmers and agro-processors to tourism demand. Digital resilience: CaribNOG 32 meets in Curaçao (Oct. 7–9) to strengthen Caribbean internet infrastructure and cybersecurity readiness. Business & governance: Senator Charles Sinclair wants insurance laws reviewed to tackle delays in claims settlement. Culture with economic pull: Negril’s Universal Film Festival returns Oct. 8–11 with screenings on Seven Mile Beach, pairing tourism with local stories. Science spotlight: The Nobel medicine prize went to optogenetics researchers—work that could shape future treatments for neurological and sensory disorders.

Nobel Spotlight: The 2026 Medicine Prize was awarded to Karl Deisseroth and German colleagues Peter Hegemann and Georg Nagel for optogenetics, a breakthrough that uses light to map how specific cell types drive learning, fear, addiction and movement—work that could feed future treatments for disorders like Parkinson’s and epilepsy. Tourism & Investment: Jamaica’s Tourist Board is targeting 10 million annual visitor arrivals over the next decade, while a World Economic Forum index ranks the Dominican Republic top in the Caribbean for tourism development (Jamaica places 78th), underscoring the competitive push for better infrastructure and services. Property Market Shift: In Kingston and St Andrew, buyers are gaining leverage as more listings cut asking prices and fewer homes sell, with diaspora demand still cautious amid uncertainty. Insurance Recovery: The Insurance Association of Jamaica says most Hurricane Melissa claims are settled, but non-motor and US-dollar claims are slower—still weighing on families and businesses. Agriculture Resilience: Jamaica 4-H Clubs will build modern school gardens at four infant schools in western Jamaica, supported by the CHASE Fund, to boost early interest in farming after Melissa’s impact. Consumer Regulation: Jamaica moves to create a new Jamaica Consumer and Competition Authority to replace the CAC and FTC, aiming for a single body for consumer protection and competition enforcement.

Tourism & Investment: Jamaica’s Tourist Board is targeting 10 million annual visitor arrivals over the next decade, with a spotlight on independently owned, Jamaican-run hotels as an alternative to all-inclusives. Water & Energy Resilience: A renewed push for seawater desalination is drawing mixed views, with specialists warning Jamaica must first bring down electricity costs for the energy-heavy process to work at scale. Insurance Recovery: The Insurance Association of Jamaica says most Hurricane Melissa claims are settled, but non-motor and US-dollar claims are still lagging, keeping pressure on households and businesses. Consumer & Competition Policy: Government moves to merge the CAC and FTC into a new Jamaica Consumer and Competition Authority to streamline consumer protection and competition enforcement. Finance & Markets: Mayberry launches Mayberry GO, a managed portfolio for liquid Jamaican-dollar cash using Bank of Jamaica CDs with full liquidity and no lock-in. Business & Media: MRSL revamps the All Media Survey with AI and a longer measurement period to better track how Jamaicans move across platforms. Agriculture & Jobs: Jamaica 4-H Clubs will build modern school gardens at four infant schools in western Jamaica, funded through the CHASE Fund, to grow early interest in farming. Sports Economy: JISA is urged to take a more commercially driven approach to collegiate sports—turning events into investment-ready opportunities. Governance & Infrastructure: Plans advance for a One Road Authority to improve road management by absorbing NWA and parochial road units.

Consumer & Competition Reform: Jamaica’s Consumer and Competition Authority Act will merge the FTC and CAC into one regulator, aiming for stronger consumer protection and competition enforcement under a single entity. Water Security Debate: A OUR webinar weighed seawater desalination as a drought response, but specialists flagged high energy costs and the need to lower electricity prices first. Financial Markets: US stocks climbed near records after softer jobs data, while the US economy was revised to 2.2% growth in Q2—signals that can influence global rate expectations. Jamaica Business & Markets: Mayberry launched Mayberry GO, a managed portfolio for liquid Jamaican-dollar cash with BoJ CD backing and no lock-in; MRSL rebuilt the All-New All Media Survey using AI and a longer six-month measurement period for better ad targeting. Corporate Moves: Sagicor says Scotia’s buyout offer is acceptable, valuing SGJ around $75; Massy sold its Trinidad Caterpillar business for US$16m. Food Safety: GraceKennedy Foods recalled specific batches of Grace Tropical Rhythms Fruit Punch in multiple Caribbean markets due to a quality issue. Transport Policy: JUTA renewed calls to ban Uber and push for a Jamaican-owned ride-hailing platform while the Transport Authority said regulations are being developed. Public Sector & Governance: Jamaica’s procurement law reform push targets less rigid rules and fewer cash-flow harms for MSMEs.

Procurement Reform: Government Senator Sherene Golding Campbell urged major changes to Jamaica’s procurement law to focus more on value for money and less on rigid compliance, arguing the current system delays projects and disadvantages MSMEs through cash tied up in bid security. Justice & Community Safety: The Ministry of Justice says it will establish mediation service providers in every parish once the Mediation Act is passed in the Senate, aiming to expand community mediation and reduce interpersonal violence. Disaster Recovery & Tourism Economy: A contract was signed with UNESCO and the Jamaica Conservation and Development Trust to support restoration at the Blue and John Crow Mountains World Heritage Site after Hurricane Melissa, including ecological assessments, reforestation and community livelihood opportunities. Infrastructure & Local Livelihoods: PM Holness handed over an $8M concrete pavement and infrastructure project in Bell Rock, improving drainage and safety for more than 100 households. Innovation Funding: The DBJ launched a Research and Development Vouchers Programme under BIGEE, offering non-reimbursable support up to $2.35M (up to 70% of costs) for prototype, lab testing and market validation. Capital Markets: VM Investments listed two unsecured bond tranches on the JSE after raising $4.8B, with proceeds mainly to refinance debt and extend maturities. Business Expansion: PriceSmart opened a new US$28M location in Montego Bay, adding to its Jamaica footprint and planning further investment including a distribution centre. Public Access Dispute: UDC says it will comply with a court order granting unrestricted public access to Little Dunn’s River, while warning it can’t provide full day-to-day management.

Capital Markets & Business Growth: DBJ launched its Research and Development Vouchers Programme under BIGEE, offering non-reimbursable support up to $2.35m per project (up to 70% of costs) for validation, prototypes, lab testing, regulatory and customer checks. Corporate Finance: JMMB reported $4.1b operating profit for FY ended March 31, with 46% of gross revenue now outside Jamaica, while VM Investments listed two unsecured bond tranches after raising $4.8b to refinance and extend maturities. Retail Investment: PriceSmart opened a US$28m new Montego Bay (Ironshore) location, adding to its Jamaica expansion plans. Food Prices & Drought Pressure: Lettuce hit $1,800/lb at Coronation Market as drought squeezes supply and vendors warn Christmas could get pricier. Labour Market: STATIN says formal jobs fell by 21,900 in July, with unemployment edging to 3.4%. Consumer & Competition Policy: Opposition Senator Ramon Small-Ferguson questioned reduced fines in the JCCA Bill, while a separate Senate debate saw criticism of “underhanded” insurance practices. Tourism & Skills: Tourism Minister Edmund Bartlett urged students to move from tourism jobs to entrepreneurship, as Jamaica pushes AI and digital transformation in the sector.

Public Access & Legal Rights: JaBBEM celebrates a court injunction restoring unrestricted public access to Little Dunn’s River in Ocho Rios, blocking the UDC from denying access to adjoining lands, roads and pathways while the case heads to trial. Business Process Outsourcing: Minister Aubyn Hill urges Jamaica’s BPO sector to pivot to higher-value knowledge services as earnings fall from about US$1b to US$750m, pointing to areas like cybersecurity, data analytics, compliance and AI. Student Finance: The Students’ Loan Bureau warns that 38% of employed borrowers made no payments in 2026, urging early contact to avoid interest and late fees. Tourism & Tech: Jamaica’s Tourism Ministry reaffirms plans to integrate AI and digital tools to boost competitiveness, decision-making and crisis management. Energy & Women-Led Growth: CDB launches a US$500,000 clean-energy support initiative for women-led businesses across the region, backed by Canada’s SuRGE programme. Agriculture & Food Security: Minister Floyd Green pushes a regional “division of labour” for premium crops and urges execution to cut the region’s food import bill. Health & Services: JMDA says only emergency services will be provided for 24 hours as doctors press for an Industrial Disputes Tribunal overtime ruling. Climate & Infrastructure: GIS professionals are urged to use mapping data to educate Jamaicans on risks from irregular settlements, flooding and coastal exposure.

Monetary Policy: Bank of Jamaica raised its policy rate by 50 bps to 6%, with economist Keenan Falconer warning more hikes may follow as inflation pressures persist. Trade & Imports: Jamaica’s merchandise trade deficit widened in the first half of 2026 as imports hit US$3.92b (up 4%) while exports fell to US$817.8m (down 7.7%). Banking & Investment Response: Barita Investments says it was prepared for the rate move by diversifying income and strengthening its balance sheet; JMMB is monitoring US rates and Middle East tensions, calling the Guyana market difficult to enter. Corporate Updates: Paramount Trading reported net profit rising to $99.1m despite Hurricane Melissa disruptions; Sygnus Capital said co-founder Dr Ike Johnson will step down as COO on Dec 31. Tourism Competitiveness: Jamaica climbed four places to 78th in the World Economic Forum Travel & Tourism Development Index, as Minister Edmund Bartlett points to resilience and “Beyond Tourism” measures. Water Security: Water Ministry activated emergency procurement for 5,000 black storage tanks over three months to ease drought impacts for schools and farmers. Labour & Health: JCSA backed doctors’ overtime pay dispute, urging the IDT to resolve compensation for work already performed. Business & Culture: PSOJ welcomed Sandals–Royal Caribbean partnership as a growth milestone; Masicka announced the Forever1NE Music Festival in Portmore for Dec 19.

Maritime Policy to Practice: Jamaica’s Maritime Authority says with over 80% of the island’s trade moving by sea, turning international shipping rules into real-world action is key to protecting supply chains amid climate and geopolitical shocks. Tourism Competitiveness: Jamaica climbed four places to 78th in the World Economic Forum’s 2026 Travel & Tourism Development Index, its biggest gain in the Americas, crediting resilience, infrastructure, people and innovation. Diaspora Investment Push: At a New York town hall, Jamaica’s ministers pitched opportunities from water infrastructure (about J$16b this year) to land, real estate, agriculture, healthcare, film and creative services. Local Business Growth: The Social Yard food and entertainment space in Constant Spring–Manor Park is set to create jobs and give MSMEs a new customer hub. Health Workforce Boost: Jamaica welcomed its first cohort of 43 specialist nurses from Ghana under the Jamaica–Ghana health cooperation plan to recruit 400 healthcare workers. Water & Housing Pressure: Officials warned tougher water curbs are coming as drought worsens, while housing applications face land problems. Industrial Action Warning: The JMDA says doctors may proceed with industrial action unless the Industrial Disputes Tribunal delivers an overtime ruling by Oct. 2. Tourism Recovery Strain: Nearly a year after Hurricane Melissa, hotels and businesses still face an insurance cash crunch, with many claims unresolved and payouts delayed. City Regulation: KSAMC declared four Kingston/St Andrew outdoor advertising “sterile” zones where no billboards will be approved from Oct. 1.

Banking & Inflation: Bank of Jamaica raised the policy rate by 50 bps to 6% as inflation pressures persist, while the central bank expects growth to strengthen into 2027/28 as constraints ease. Water & Climate Resilience: Drought is worsening, with NWC reporting 107 of 405 reserve systems in drought territory and production down; Minister Samuda warned tighter restrictions could come soon, including day-on/day-off supply in some communities. Housing & Land: New Social Housing Programme approvals lag applications, with land tenure issues, incomplete submissions and unsuitable lots holding back progress. Digital Economy & Cybersecurity: Jamaica is pushing to close the digital skills gap via school computer rollouts, while Science Minister Wheatley flagged 5.4m cyber-attack attempts in Q1 and called for stronger national cyber defences. Agriculture & Labour Mobility: Agriculture Minister Floyd Green urged a regional framework to move farmworkers across the Caribbean, using Dominica’s model as a reference. Tourism & Trade: PriceSmart opened a US$28m club in St James, and Jamaica is targeting GCC travellers with longer stays and multi-destination itineraries. Health System Pressure: JCTU backed doctors’ overtime dispute, warning of disruption if the IDT ruling is delayed.

WorldSkills & Skills Pipeline: Brandon Brown’s WorldSkills gold in optoelectronics is a reminder that Jamaica’s talent can win globally when education and training stay connected to opportunity. Monetary Policy: The Bank of Jamaica raised the policy rate to 6% to contain persistent inflation from higher commodity and agricultural prices, with El Niño risks still in play. Water & Cost Pressures: NWC says 107 of 150 monitored water systems are affected by drought, with Kingston/St Andrew/St Thomas hit hardest—raising the stakes for food and household costs. Energy Security: PSOJ urges faster renewable energy and grid modernisation, plus a timely conclusion to JPS licence talks, to protect competitiveness. Agriculture & Market Linkages: TEF’s ALEX platform has generated nearly $2b in sales since 2018 by linking small farmers to tourism procurement needs. Business Support & Procurement: MSMEs seeking verified supplier status under the Set-Asides framework must submit financial records; JBDC targets 900 MSMEs annually via its SBDC network. Labour Watch: JCTU calls for an urgent overtime ruling in the JMDA dispute, warning prolonged delays hurt workers in essential services. Maritime & Trade: Minister Daryl Vaz reaffirmed Jamaica’s push for maritime excellence as global shipping disruptions threaten energy and supply chains. Regional Food Security: Agriculture Minister Rodwell Ferguson backs a “One country, one product” model to specialise and trade across CARICOM.

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.