CariCRIS has assigned an investment-grade credit ratings to the Government of Jamaica, with a stable outlook, citing the country’s fiscal commitments, debt-reduction strategy and continued financial sector stability despite the economic impact of Hurricane Melissa.
The Caribbean Information and Credit Rating Services Limited (CariCRIS) assigned Jamaica a CariA rating for foreign currency obligations and CariA+ for local currency obligations on its regional rating scale. On the Jamaica national scale, the Government received a jmAAA rating.
The stable outlook reflects expectations that Jamaica’s economy will recover over the next two years following the impact of Hurricane Melissa, while its debt-to-GDP ratio is projected to resume a downward trajectory towards the Government’s target of below 60 per cent by financial year 2029/30.
