Jamaica

Jamaica Gets Fitch’s Upgrades

One of America’s biggest rating agencies, Fitch Ratings Inc. has affirmed the Government’s Long-Term Foreign-Currency Issuer and Local-Currency Issuer Default Rating at ‘B+’ and revised the outlook from stable to positive.

Fitch indicated that the revised outlook reflected Jamaica’s efforts in maintaining the debt-to-GDP on a downward trajectory and large primary surpluses. 

In explaining the affirmation of the “B+” ratings, Fitch pointed out that the high debt-to-GDP and low growth levels were constraining factors.

However, it said prospects for growth have improved and it is expected to move steadily to 1.5 percent by 2021.

Marcia Wright, Readers Bureau, Fellow

Edited by Jesus Chan

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