LIST OF ESTABLISHED OFFICES IN THE PUBLIC SERVICE

Accountant Generals Department

Corporate & Public Sector Services

Salaries

No of Offices Office Classification Grade Remarks

1 Salaries Supervisor FMG PA 1 Post [# 1997] of Accounting Technician 3 (FMG/AT 3) retitled and reclassified with effect from April 1, 2009.

4 Treasury+Accounting+Technician">Treasury Accounting Technician 3 FMG AT 3 Four posts [#s 1998-2000 & 3888] of Accounting Technician 2 (FMG/AT 2) retitled and upgraded with effect from April 1, 2009.

1 Treasury+Accounting+Technician">Treasury Accounting Technician 2 FMG AT 2 Post [# 1921] of Accounting Clerk 2 (FMG/AC 2) retitled and reclassified with effect from April 1, 2009.

1 Treasury+Accounting+Technician">Treasury Accounting Technician 2 FMG AT 2 Post [# 2001] of Salary Clerk (FMG/AC 2) retitled and reclassified with effect from April 1, 2009.

6 Treasury+Accounting+Technician">Treasury Accounting Technician 2 FMG AT 2 Four (4) posts [#s 1924-5, 1927- 8] of Accounting Clerk 1 (FMG/AC 1) retitled and reclassified with effect from April 1, 2009.

16

16 Total - Salaries

Finance & Accounts

No of Offices Office Classification Grade Remarks

1 Director, Finance FMG PA 3 Post [# 1912] of Treasury Accountant (FMG/PA 2) upgraded and retitled with effect from April 1, 2009.

1 Senior Secretary OPS SS 3 Post [# 1930] of Secretary 2 (OPS/SS 2) retitled and upgraded with effect from April 1, 2009.

2

Expenditure & Control

No of Offices Office Classification Grade Remarks

1 Treasury Accountant 1 FMG PA 1 New post [# 62817] with effect from April 1, 2009.

2 Treasury+Accounting+Technician">Treasury Accounting Technician 2 FMG AT 2 One (1) new post [# 62816] with effect from April 1, 2009.

THE CIVIL SERVICE ESTABLISHMENT (GENERAL) ORDER, 2010. Page 87

LIST OF ESTABLISHED OFFICES IN THE PUBLIC SERVICE

Accountant Generals Department

Corporate & Public Sector Services

Finance & Accounts

Expenditure & Control

No of Offices Office Classification Grade Remarks

1 Treasury Accounting Technician 1 FMG AT 1 Post [# 1920] of Accounting Clerk 2 (FMG/AC 2) retitled and reclassified with effect from April 1, 2009.

1 Treasury Accounting Technician 1 FMG AT 1 Post [# 1926] of Accounting Clerk 1 (FMG/AC 1) retitled and reclassified with effect from April 1, 2009.

5

Bank Reconciliation

No of Offices Office Classification Grade Remarks

1 Treasury Accountant 1 FMG PA 1 New post [# 62818] with effect from April 1, 2009.

1 Treasury Accounting Technician 2 FMG AT 2

1 Treasury Accounting Technician 1 FMG AT 1

1 Treasury Accounting Technician 1 FMG AT 1 Post [# 1923] of Accounting Clerk (FMG/AC 2) retitled and reclassified with effect from April 1, 2009.

4

Final Accounts

No of Offices Office Classification Grade Remarks

1 Treasury Accountant 2 FMG PA 2 New post [# 62819] with effect from April 1, 2009.

1 Treasury Accounting Technician 3 FMG AT 3

1 Treasury Accounting Technician 2 FMG AT 2

1 Treasury Accounting Technician 1 FMG AT 1

1 Treasury Accounting Technician 1 FMG AT 1 Post [# 1922] of Accounting Clerk 2 (FMG/AC 2) retitled and reclassified with effect from April 1, 2009.

5

16 Total - Finance & Accounts THE CIVIL SERVICE ESTABLISHMENT (GENERAL) ORDER, 2010. Page 88

LIST OF ESTABLISHED OFFICES IN THE PUBLIC SERVICE

Accountant Generals Department

Corporate & Public Sector Services

Pensions Branch

No of Offices Office Classification Grade Remarks

1 Director, FMG+PA">General Services FMG PA 3

1 Disbursement Officer FMG AT 1 Post [# 2026] of Cashier (FMG/CS 1) retitled and reclassified with effect from April 1, 2009.

1 Disbursement Officer FMG AT 1 New post [# 62821] with effect from April 1, 2009.

1 Senior Secretary OPS SS 3 Post [# 2027] of Secretary 2 (OPS/SS 2) retitled and upgraded with effect from April 1, 2009.

1 Secretary 2 OPS SS 2 Post [# 2028] of Secretary 1 (OPS/SS 1) retitled and upgraded with effect from April 1, 2009.

1 Administrator 3 GMG AM 3 New post [# 62820] with effect from April 1, 2009.

2 Records Clerk PIDG RIM 1 Two (2) new posts [#s 62822 & 62839] with effect from April 1, 2009.

8

First Payment

No of Offices Office Classification Grade Remarks

1 Pensions Supervisor FMG PA 2 Post [# 2004] of Accounting Technician 3 (FMG/AT 3) retitled and reclassified with effect from April 1, 2009.

2 Treasury Accounting Technician 3 FMG AT 3 Two (2) posts [#s 2006-2007] of Accounting Technician 2 (FMG/AT 2) retitled and upgraded with effect from April 1, 2009.

1 Treasury Accounting Technician 2 FMG AT 2 Post [# 2025] of Accounting Clerk (FMG/AC 2) retitled and upgraded with effect from April 1, 2009.

1 Treasury Accounting Technician 3 FMG AT 3 Post [# 2011] of Accounting Technician 1 (FMG/AT 1) retitled and upgraded with effect from April 1, 2009.

4 Treasury Accounting Technician 2 FMG AT 2 Four (4) posts [#s 2020-1, 2010 & 2012] of Accounting Technician 1 (FMG/AT 1) upgraded and retitled with effect from April 1, 2009.

THE CIVIL SERVICE ESTABLISHMENT (GENERAL) ORDER, 2010. Page 92

Medium-Term Debt Management Strategy FY2020/21-FY2023/24 11 | P a g e

existing floating-rate debt and fixed-rate debt that falls due within 12 months and needs to be

rolled over.

Figure 4 highlights a downward trend in benchmark interest rates for the debt portfolio during

calendar year 2019. The BOJ reduced its policy rate four times, from 1.75 percent to its current

level of 0.50 percent per annum. This monetary easing was geared towards stimulating the

expansion of private sector credit in order to spur a higher level of economic activity. In an effort

to mitigate the potentially negative effects on the US economy from increased geopolitical

tensions, rising trade uncertainty and slowing global growth, the Fed reduced its policy rate three

times, cumulatively by 75 basis points (bps) during calendar year (CY) 2019. The policy actions

of both monetary authorities resulted in downward trends in the 3-month Treasury bill (T-bill)

rate and the 3-month US dollar Libor (see Figure 4). The 3-month T-bill rate was 1.32 percent in

December 2019, 95 bps lower than January 2019. This compared to an 87 bps reduction in the

3-month US Libor to 1.91 percent at end-December 2019.

Figure 4: Reference Rates for the Debt Portfolio

Source: Bank of Jamaica and the Federal Reserve Bank of St. Louis

There was general improvement in the portfolio’s exposure to interest rate risk, reflected in

increases in the average-time-to-re-fixing (ATR) and debt re-fixing within one year. The ATR

measures the weighted average time until all principal payments in the debt portfolio become

subject to a new interest rate. Over the review period, the ATR for Central Government debt

portfolio increased by 1.3 years from 8.5 years at end-March 2019 to 9.8 years at

end-December 2019. This was as a result of a 0.4 year and 1.8 years increase in the domestic and

external debt portfolios, respectively.

0.00

0.50

1.00

1.50

2.00

2.50

3.00

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19

BOJ policy rate Eff Fed Rate 3-month T-bill 3-month US-Libor

LIST OF ESTABLISHED OFFICES IN THE PUBLIC SERVICE

Accountant Generals Department

Corporate & Public Sector Services

Pensions Branch

First Payment

9

Public Officers

No of Offices Office Classification Grade Remarks

1 FMG+PA">Accountant Pensions Payment FMG PA 1

1 Pensions Supervisor FMG PA 1 Post [# 2003] of Accounting Technician 3 (FMG/AT 3) retitled and reclassified with effect from April 1, 2009.

4 Treasury Accounting Technician 2 FMG AT 3 Four (4) posts [#s 2013-5 & 2019] of Accounting Technician 2 (FMG/AT 2) retitled and upgraded with effect from April 1, 2009.

2 Treasury Accounting Technician 2 FMG AT 3 Two (2) new posts [#s 62823-24] with effect from April 1, 2009.

8

Teachers

No of Offices Office Classification Grade Remarks

1 Pensions Supervisor FMG PA 1 Post [# 2005] of Accounting Technician 3 (FMG/AT 3) retitled and reclassified with effect from April 1, 2009.

1 Treasury Accounting Technician 2 FMG AT 2 Post [# 2008] of Accounting Technician 1 (FMG/AT 1) retitled and upgraded with effect from April 1, 2009.

1 Treasury Accounting Technician 2 FMG AT 2 Post [# 2009] of Accounting Technician 1 (FMG/AT 1) retitled and upgraded with effect from April 1, 2009.

3

Police & Military

No of Offices Office Classification Grade Remarks

1 Pensions Supervisor FMG PA 1 New post (# 62825) with effect from April 1, 2009.

1 Treasury Accounting Technician 3 FMG AT 3 Post [# 2016] of Accounting Technician 1 (FMG/AT 1) retitled and upgraded with effect from April 1, 2009.

THE CIVIL SERVICE ESTABLISHMENT (GENERAL) ORDER, 2010. Page 93