Derick Latibeaudiere Explained

Honorific-Prefix:The Honourable
Derick Latibeaudiere
Office:Governor of the Bank of Jamaica
Primeminister:P. J. Patterson
Portia Simpson-Miller
Bruce Golding
Term Start:1 April 1996
Term End:30 October 2009
Predecessor:Jacques Bussières
Successor:Brian Wynter
Birth Name:Derick Milton Latibeaudiere
Birth Place:Colony of Jamaica
Birth Date:9 June 1951
Alma Mater:

Derick Milton Latibeaudiere (; born 9 June 1951) is the former governor of Jamaica's central bank, the Bank of Jamaica (BOJ) from 1996 to 2009. He took office as governor of the bank on 1 April 1996 and was the first member of the Bank' s staff to have been appointed to this position. Latibeaudiere also served as Chairman of the Board of Governors of the Bank of Jamaica and is Jamaica's Alternate Governor to the International Monetary Fund (IMF). He resigned as governor on 30 October 2009.[1]

Personal Loan Scandal

In August 2008 information surfaced that Governor Latibeaudiere borrowed 51 million Jamaican dollars from the central bank to construct a house and furnish and landscape the grounds. The scandal began when it was brought to light that there was no evidence that the loan had been properly collateralised.[2]

Involvement outside the Bank of Jamaica

Latibeaudiere also serves as Chairman of the Board of Directors of the Sugar Company of Jamaica (SCJ)[3] and its subsidiary companies. He is a member of the Board of the Jamaica Deposit Insurance Corporation (JDIC) and was appointed Special Advisor on Racing to Jamaica's Minister of Finance and Planning. Latibeaudiere also served as director of the country's national airline, Air Jamaica.

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Notes and References

  1. News: Cabinet to discuss Latibeaudiere's resignation . 2 November 2009 . RadioJamaica.com. 2009-11-07.
  2. Web site: Jamaica Gleaner News - After nine months ... Still no proof of collateral from Bank of Jamaica - News - Sunday | May 31, 2009 . 10 June 2009 . https://web.archive.org/web/20090612102024/http://www.jamaica-gleaner.com/gleaner/20090531/news/news4.html . 12 June 2009 . dead .
  3. News: Sugar company makes operating profit But still carries spectre of $7.2b deficit . 28 August 2005 . Jamaica Observer . 2009-11-08 . dead. https://web.archive.org/web/20060113135140/http://www.jamaicaobserver.com/news/html/20050827T230000-0500_87067_OBS_SUGAR_COMPANY_MAKES_OPERATING_PROFIT_.asp . 13 January 2006 .