KINGSTON, Jamaica — Economist Dr R Brian Langrin has been appointed governor of the Bank of Jamaica (BOJ), effective Wednesday, August 19, succeeding Richard Byles, whose term ends Tuesday.

The Ministry of Finance and the Public Service announced the appointment Monday, saying it was made by the Governor-General in Council following a search process involving local and international candidates.

A search committee established in April led the selection process.

Langrin has more than two decades of experience in central banking, financial stability and multilateral development institutions. He previously held senior positions in financial stability and economic research at the BOJ and served as a financial stability adviser at the Caribbean Regional Technical Assistance Centre, an International Monetary Fund-administered body that assists regional governments and central banks.

He holds a doctorate in economics from Pennsylvania State University and has published research on financial stability and monetary policy.

Finance Minister Fayval Williams said Langrin’s experience in Jamaica, the wider Caribbean and international development would be important as the country navigates an uncertain global economic environment.

Williams also reaffirmed the Government’s commitment to the central bank’s independence and to maintaining the monetary and financial policies underpinning Jamaica’s economic stability.

Langrin said he would focus on strengthening monetary and financial stability, improving the country’s resilience and continuing the modernisation of the financial system.

“I am committed to preserving the bank’s hard-won credibility and independence, to keeping inflation low and stable, and to advancing the modernisation of our financial system for the benefit of every Jamaican,” he said.

Langrin succeeds Byles, who has led the central bank since August 2019. His seven-year tenure covered the economic disruption caused by the COVID-19 pandemic, the subsequent global inflation surge, hurricanes Beryl and Melissa and the 2026 oil shock arising from conflict in the Middle East.

During Byles’ tenure, the BOJ gained full statutory independence under the Bank of Jamaica (Amendment) Act, 2020, strengthened its inflation-targeting framework and introduced JAM-DEX, Jamaica’s central bank digital currency.

The finance ministry credited Byles with helping to preserve financial-system stability during a period of repeated domestic and international shocks.

“He guided the nation’s monetary policy with a steady hand through extraordinary times and leaves the bank stronger and more independent than he found it,” Williams said. “He leaves a legacy of stability on which Dr Langrin will build.”