Finance Minister Dr. Nigel Clarke declared that the new banknotes for Jamaica are scheduled to arrive on the island by the first week of December. This is along with the commenced distribution of the $2000 bill that will feature the images of some of the country’s former Prime Ministers, Michael Manley and Edward Seaga.
On Tuesday, Dr. Clarke noted that the ATMs (automated teller machines) are in the process of being reconstructed to ensure that the distribution of the new notes to the public will be a smooth process. He added that the masses will be made aware of the changes and that it is “expected to last between three to six months.”
The facilitation of the remodeled bills, according to the Finance Minister, is a part of the effort afforded by the Bank of Jamaica (BOJ), to improve the available coinage to magnify security and reduce the risk of the creation of counterfeit notes. Additionally, it is intended to be more cost-efficient by introducing durable bills, as well as creating a clearer variation of colour that will differentiate features between notes of other denominations, and to better serve those with visual disabilities.
As announced by the BOJ earlier in this year, more than a billion dollars is expected to be spent on producing the new bank notes for the country.