jam-flag-2b

Government of Jamaica

jam-flag-2b

Government of Jamaica

S&P AFFIRMS JAMAICA AT ‘B+’, OUTLOOK REMAINS “STABLE”

Ministry of Finance and the Public Service

S&P Affirms Jamaica at ‘B+’, Outlook Remains “Stable”

­­­­­­­­­­­­Kingston, Jamaica: Wednesday, October 5, 2022

Standard and Poor’s Global Ratings, today, October 5, 2022, affirmed the Government of Jamaica’s Long-Term Foreign and Local Currency Issuer Default Rating (IDR) at ‘B+’ with the outlook remaining Stable.

The S&P rating reflects the agency’s notion that Jamaica’s economy will continue to recover, with expected Gross Domestic Product (GDP) growth of 4.0 % in 2022. It is also expected that the Government will remain committed to sustainable public finances, including the achievement of the current year’s budgeted fiscal targets. 

The outlook is grounded in the expectation that Jamaica will remain committed to macroeconomic and fiscal discipline with a continued downward trajectory of the debt burden.

S&P noted that the country continues to face downside risks from slowing global growth, lower than expected domestic growth, a potential recession in the US, and the impact of global inflation.

In commenting on the rating action Dr. the Honourable Nigel Clarke, Minister of Finance and the Public Service said, “This affirmation by S&P, which comes at a time of great uncertainty in the world economy, is yet another sign that Jamaica’s strategy of reducing vulnerability and strengthening resilience is paying off.”

–30–

October 5, 2022

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: cheryl.smith@mof.gov.jm

Contact: Cheryl Smith

The Hon. Nigel Clarke, D.Phil., MP

Minister of Finance and the Public Service
30 National Heroes Circle, Kingston 4
Tel: (876) 932-4656 / 4660 / 4655
Eml: opedjamaica@gmail.com

Leave a Reply

Stay up to date.

Sign up our newsletter for latest articles and news.

Stay up to date.

Sign up our newsletter for latest articles and news.

GOJ AND THE WORLD BANK SIGN LOAN AGREEMENT FOR SOCIAL PROTECTION PROJECT

The Government of Jamaica (GOJ) and the World Bank signed a loan agreement for USD 20 million to support the Jamaica Social Protection for Increased Resilience and Opportunities (SPIRO) Project which is programmed to conclude on January 31, 2030. The GOJ and World Bank representatives participated in a visibility ceremony for the loan agreement held at the Ministry of Finance and the Public Service on Tuesday, June 11, 2024.

Read More »

Lorem ipsum dolor sit amet, consectetur adipiscing elit.