Finance Minister: Fitch Credit Rating Sustains Placement that Jamaica’s Economy is Fixed to Thrive
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Finance Minister, Dr. Nigel Clarke, says Jamaica’s latest rating by international credit rating firm, Fitch, supports his stance that the economy is expected to thrive amid external shocks.
In a statement yesterday, Fitch says it’s affirmed Jamaica’s B-plus grade and set its outlook at stable.
Fitch says Jamaica’s Long-Term Foreign-Currency Issuer Default Rating is supported by a favorable business climate and consistent fiscal policy efforts to lower the debt burden.
The finance minister also says now is the best time to be an entrepreneur in Jamaica.
He was speaking last evening on (TalkUpDiTingsDem), a day after his opening budget presentation on Tuesday.
Stevian Sappleton reports.
The finance minister says it’s not lost on him that motorists are paying more at the pumps. He says Russia’s invasion of Ukraine has contributed largely to soaring fuel prices.
Dr. Clarke says Fitch’s latest move indicates Jamaica’s economic outlook won’t be deteriorated by the Ukraine crisis.
The finance minister says the government is moving to inject millions in equity financing for entrepreneurs.
He says the first initiative is through an Inter-American Development Bank, IDB, program, where the government will invest $750 million.
