Fayval Williams is Jamaica’s new finance minister

Jamaica’s Minister of Education Fayval Williams has been appointed as the new Minister of Finance, taking over from Nigel Clarke, who resigned to assume the position of Deputy Managing Director at the International Monetary Fund (IMF).

Prime Minister Andrew Holness announced the appointment on Wednesday, coinciding with Clarke’s departure from Jamaica to begin his tenure at the IMF. To fill the vacancy at the Ministry of Education, Prime Minister Holness has appointed Senator Dana Morris Dixon as the new Minister of Education and Youth. Additionally, Matthew Samuda will return to the Cabinet as Minister without portfolio for Water.

“These appointments are designed to maintain stability and minimize disruptions in the functioning of the government, but at the same time, pivot toward a growth-oriented economic policy,” Holness said in his announcement. Fayval Williams, who is also a Member of Parliament for St. Andrew Eastern, brings an extensive background in finance to her new role. A Chartered Financial Analyst (CFA), she holds an MBA with a finance concentration from the Wharton Business School at the University of Pennsylvania, and a cum laude BA in Economics from Harvard University.