FINSAC Commission Archives Now Available

Finance Minister Dr. Nigel Clarke says the FINSAC Commission Archives contains submissions detailing the experiences of debtors who were impacted in the 1990s.

The ceremony to launch the long-awaited archives was held Thursday morning at the Jamaica Pegasus hotel.

Chevon Campbell reports.

The FINSAC Commission was established on January 12, 2009.

It undertook a comprehensive examination of the factors which contributed to the near collapse of the country’s financial system in the 1990s.

However, the commission did not deliver a report.

The finance ministry says the launch of the archives will provide an opportunity for stakeholders, researchers and members of the public to access valuable insights from various perspectives that will add to public understanding of that period.

Dr. Clarke says the material includes the stories of those who borrowed from banks in the 1990s and were hit by ballooning interest rates.

The finance minister says the financial period led to an accumulation of debt that took some 30 years to be wound down.

Dr. Clarke says creating access to the FINSAC files is a move to ensure Jamaicans can be educated about a period that the country should never experience again.

The files are being published with redactions and minor changes to protect personal privacy.

This in an effort to comply with the Data Protection Act and the Access to Information Act.

The archives is hosted on the finance ministry’s website. Interested people may access it at mof.gov.jm/finsaccommissionarchives.