New finance minister to be named as Clarke heads to IMF

A new finance minister of Jamaica is to be appointed as Dr Nigel Clarke is to take up the post of  Deputy Managing Director of the International Monetary Fund (IMF) in October.

Managing Director of the IMF, Kristalina Georgieva, proposed his appointment to the Executive Board of the IMF today.

The appointment would take effect on October 31, 2024, with Clarke succeeding Antoinette Sayeh, who steps down on September 12.

Prime Minister Andrew Holness says he has already identified a new finance minister but did not state the name of the incoming finance minister in a release sent to the media on Monday morning.

"The Government has identified successors to Nigel Clarke in both his ministerial and parliamentary responsibilities and there will be a smooth transition in both capacities. Further updates will be provided in due course and the public can expect policy continuity and a continuation of the economic achievements," he stated.

In congratulating Clarke, Holness said "This is a historic and important development in which I take immense pride."

Meanwhile, the Jamaica Labour Party (JLP) has announced that Councillor for the Chancery Hall Division, Duane Smith, will replace Dr Nigel Clarke as its standard bearer in the St Andrew North Western constituency.

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