Prime Minister Dr. Andrew Holness says the upgrading of Jamaica’s long-term credit rating by standard and poor’s is a significant step for the economy.
It was revealed yesterday that S&P had upgraded Jamaica from ‘BB minus’ to ‘BB’ with a positive outlook.
Dr. Holness in a post on X says this upgrade is recognition of the Government’s sound fiscal management and discipline, while still making the right investments to drive growth, jobs and opportunities for Jamaicans.
He adds that each milestone moves closer to building the strong and prosperous future that Jamaicans deserve
According to the Prime Minister, this upgrade reflects Jamaica’s sustained debt reduction, a decade of effective and predictable fiscal policy and continued strengthening of institutional framework.
He says with this upgrade, Jamaica now stands just two notches below investment grade. The positive outlook signals that further upgrades are possible as Jamaica continues to lower the debt burden and accelerate economic growth.
The Prime Minister points out that a stronger credit rating means Jamaica can borrow at lower costs, attract more investment and redirect savings in debt service toward better roads, reliable water, affordable housing, quality schools and hospitals and greater opportunities for our people.
He states that this is not the final milestone, but one more step forward in Jamaica’s journey of reform and growth.
Dr. Holness notes that with continued discipline, unity and focus the country will achieve investment grade status and secure lasting prosperity.
