Feb 17, 2018 Last Updated 3:42 PM, Feb 16, 2018

The Minister of Finance & the Public Service

The Honourable Minister Audley Shaw CD, MP, Minister of Finance and the Public Service. He is a graduate of Northern Illinois University (NIU) with a Bachelor of Arts and Master of...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Rudyard Spencer, CD, MP is Minister of State (Public Service), with the Ministry of Finance and Public Service. Minister Spencer studied Industrial Relations at Medg...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister of State in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and holds an M...

Fitch Ratings Affirms Jamaica ‘B’ ratings and revised Outlook to Positive

Fitch Ratings Agency on January 31st 2018    affirmed Jamaica’s long-term foreign and local currency Issuer Default Ratings at ‘B’ and revised the outlook from “Stable” to “Positive”.  

The rating action was predicated on the improvements in the macroeconomic and fiscal indicators.  The ratings were also supported by the country’s structural strengths, such as relatively high income per capita and social indicators, policy consensus and relatively strong institutional capacity.

  The press release highlighted that:

  • macroeconomic stability continues to improve;
  • the public debt/GDP ratio continues on a downward trajectory;  
  • the Government is on course to record another primary fiscal surplus of around 7.0 % of GDP  for FY17/18  , which is equivalent to an overall balanced budget;
  • the Jamaica dollar has appreciated relative to the US dollar;
  • The Bank of Jamaica  benchmark overnight rates have been lowered;
  • external finances are  on a sustainable path; and
  • external liquidity has improved. The Government welcomed the rating action by Fitch, which underscored the country efforts in maintaining a stable macroeconomic environment that will facilitate sustained growth required for development.

 

For further information contact:
Debt Management Branch
Ministry of Finance and the Public Service
30 National Heroes Circle
Kingston 4
Tel: (876) 932-5419
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Contact: Cheryl Smith

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