News

Jamaica: S&P Rating Upgrade A Positive Development For Economy – PSOJ

The Private Sector Organisation of Jamaica (PSOJ) has welcomed the recent upgrade of Jamaica’s sovereign credit rating from ‘B’ to ‘B+’ by Standard and Poor’s Ratings Agency (S&P).

PSOJ President Keith Duncan stated that the upgrade is a positive development for Jamaica.

“The B+ rating by S&P demonstrates that the economy is moving in the right direction in achieving macroeconomic stability and bodes well for the growth momentum particularly in the context of Jamaica being effectively outside of an IMF programme. Successive administrations must be commended for remaining focused on implementing policies that bolster fiscal resilience and support the growth agenda,” Duncan said.

S&P also affirmed Jamaica’s ‘B’ short-term foreign and local currency sovereign credit ratings.

Additionally, it says the stable outlook reflects the agency’s expectation that Jamaica will continue to bolster its fiscal resilience through continued public-sector reform, a declining debt burden, and will generate modest real Gross Domestic Product growth.

Advertisements

Categories: News

Tagged as: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s