Business
Jamaica’s economic outlook stable maintains B- according to Fitch
(The Gleaner) – International ratings agency Fitch has maintained Jamaica’s B- grade on its likelihood to honor local and foreign debts.
However, Fitch is raising grave concern about Jamaica’s high debt ratio and what it calls structural weakness, crime and the high cost of energy.
Fitch released its latest rating on Jamaica last night.
The finance ministry issued a three-paragraph release, highlighting that Fitch has affirmed Jamaica’s rating at B- with a stable outlook.
The finance ministry said the ratings are supported by improving macro-economic stability and Jamaica’s high level of institutional strength.
However, the full report on the Fitch website is not as rosy as the ministry’s press release.
The Fitch report reinforces a worrying reality for the Jamaican economy, highlighting the need for urgent improvement.
