Economy/AP
Jamaica's prime minister says central bank president was fired over excessive salary demands
Associated Press
11/03/09 8:00 PM EST
KINGSTON, JAMAICA — Jamaican Prime Minister Bruce Golding says the president of the island's central bank was fired over what the government leader calls extravagant salary demands.
Derick Latibeaudiere announced his resignation last week after 13 years as head of the Bank of Jamaica, but gave no details on his departure.
Golding said Tuesday that Latibeaudiere had an annual salary package of nearly $430,000, of which more than half went to housing. He said the government could not meet Latibeaudiere's demand for an increase given the stagnant economy.
Calls to Latibeaudiere's cell phone went unanswered Tuesday night.
Former deputy bank director Brian Wynter has been named to replace Latibeaudiere.
