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Finance Minister Dr Nigel Clarke
By Javaughn Keyes
Fitch Ratings Agency has upgraded Jamaica's credit rating from B+ plus to BB-.
The outlook for the country also remains "Positive".
Fitch says the rating upgrade results from the Government's continued commitment to a stable economic policy framework, underpinned by the Bank of Jamaica's inflation-targeting monetary policy.
Finance Minister Dr. Nigel Clarke, in reaction, has characterised this as another historic upgrade, being "the highest rating that the Government of Jamaica has secured from Fitch since it started rating Jamaica's debt 18 years ago."
This, he said, was "yet another testament to the effectiveness of the Governmment's economic policy-making framework, in improving Jamaica's economic independence and fostering an economic climate that it conducive to growth and jobs."
These improvements must now be leveraged "to benefit all Jamaicans," he said.
Fitch's upgrade comes after both Standard & Poor's Global Ratings and Moody's improved their outlooks for Jamaica.
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