Jamaica Chamber Calls Bank Governor`s Resignation Unfortunate

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CaribWorldNews, KINGSTON, Jamaica, Mon. Nov. 2, 2009: The Jamaica Chamber of Commerce is speaking out over what the organization calls the `sudden resignation` of Jamaica’s central bank governor, Derrick Lattibeaudiere. 

Latibeaudiere, who was leading negotiations with the IMF to obtain a $1.2 billion stand-by loan, resigned, Finance Minister Audley Shaw said Friday. No reason was given for the resignation of the 58-year-old who had served as governor of the central bank of the Caribbean island state since 1996.

Shaw, meanwhile, said in a brief statement that Bryan Wynter, a former deputy governor, would take over as head of the Bank of Jamaica on December 1.

`It is unfortunate that no reason for the resignation was given, as we believe that an explanation would have helped to reduce potentially distracting speculation at this critical juncture in the country’s negotiations for a new IMF deal,` said the JCC in a statement.

Shaw said Financial Secretary Wesley Hughes would immediately take charge of the negotiations with the IMF. The JJC urged that the country remains squarely focused on the necessity for the quick re-organization of and support for the team, which is leading the Country’s negotiations with the IMF. 

 

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