Jamaica's government intends to off load its 45% stake in Clarendon Alumina Production Limited (CAP) for approximately $400 million by the end of the year, Finance Minister Audley Shaw said. He added that the cabinet is evaluating 2 bids but declined to divulge into details. "We need to get rid of it," he said. "The decision is imminent."

Audley Shaw, Minister of Finance, said that the Government is currently evaluating firm offers for the divestment of Clarendon Alumina Production Limited (CAP). "I should indicate that the early divestment of CAP would result in a positive improvement on the public body’s balances, should that be accomplished within this fiscal year,” Shaw said. "Out of an abundance of caution therefore, the inclusion of CAP in this supplementary budget meant that an additional $5.3 billion had to be found to accommodate the deficit from CAP. Consequently, the adjustment required from other public bodies total $5.1 billion, resulting in an overall balance deficit of $10.4 billion, which is consistent with the targets set out in the International Monetary Fund Standby Agreement,” Shaw added.