St.James Municipal Corporation commits to waiving 50% of outstanding debt owed by craft vendors in Montego Bay

The St. James Municipal Corporation has committed to waiving 50% of the $9.3 million in outstanding debt owed by craft vendors in Montego bay.

According to Montego Bay Mayor, Richard Vernon, the initiative is aimed at supporting recovery efforts following hurricane Melissa, attracting more visitors and expanding business opportunities as the tourism sector rebounds.

He said the decision followed an appeal from craft vendors. 

The waiver, which covers rent arrears for October and November, amounts to approximately $4.5 million and will benefit 410 craft traders in Montego Bay.

The traders recorded approximately $22 million in business losses last year due to several challenges, including the devastating impact of hurricane Melissa.

Meanwhile, Mayor Vernon urged business owners to adapt to prevailing challenges and reposition themselves to harness the opportunities presented by a revitalised tourism industry.

He was speaking during the municipal corporation’s monthly meeting last Thursday.