Mon | Oct 22, 2018

Fitch more positive about Jamaica

Published:Saturday | February 21, 2015 | 12:00 AM

Fitch Ratings Agency has revised the outlook for Jamaica from stable to positive and reaffirmed the long term foreign currency and local issuer default ratings at ‘B-‘ and the short-term foreign currency rating at ‘B’, with a country ceiling of ‘B’.
Fitch’s revision is based on a reduction in external financing risks as evidenced by an increase in reserves, increase in services, remittances and capital inflows and a decline in the current account deficit which has contributed to lower external financial needs.
A release from the Ministry of Finance says the ratings were also supported by Jamaica’s structural strengths, such as relatively high per capita income and social indicators, policy consensus and relatively strong institutional capacity.