Finance Minister Audley Shaw has been awarded Finance Minister of the Year for the Caribbean 2016, by the Global Markets newspaper.

The minister received the award at the Global Markets annual awards reception held at the Willard Intercontinental Hotel in Washington, DC yesterday (Oct 14).

He was among fifteen other finance ministers and governors of banks who received awards at the event.

In presenting the award, Global Markets Managing Director, John Orchard said Mr. Shaw was awarded for beating expectations and for being focused on growth and stability.

Mr. Orchard says the results of Jamaica’s economic performance are very impressive:  the fiscal performance stands out and the new administration has run a large primary surplus.

He added that though Mr. Shaw had a tough mandate, he had inherited the timeless task of pushing through the restoration of economic reform launched by the previous administration, and necessitated by the country’s debt to gross domestic product (GDP) ratio.

In accepting the award, Mr. Shaw said he was honoured and humbled that the editorial committee of Global Markets newspaper selected him as the 2016 Finance Minister of the year for the Caribbean.