The Private Sector Organization of Jamaica (PSOJ) has highlighted strong fiscal management, a stable policy framework and improved revenue generation as contributing factors resulting in Fitch Ratings’ affirmation of Jamaica’s credit rating at ‘BB-‘ with a positive outlook.

On February 21, the global ratings agency made the affirmation.

Jamaica’s rating was upgraded from ‘B’ to ‘BB-‘ on March 5, 2024, citing improved fiscal discipline, a declining debt-to-GDP ratio and the strength of key institutions.

The PSOJ says the affirmation reinforces that Jamaica’s economic policies remain on the right track.

The PSOJ notes that it recognizes the importance of stable and predictable economic policies, especially with the upcoming general elections.

It says the broad consensus on Jamaica’s fiscal framework across political parties reduces uncertainty, fostering greater investor confidence and stability in financial markets.