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Jamaica's Credit Rating Upgraded Amid Fiscal Progress

9/28/2025

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Summary

Story summary

Standard & Poor’s (S&P) raised Jamaica’s rating from BB- to BB, signaling improved fiscal discipline.
Finance Minister Fayval Williams called the upgrade a step toward an investment-grade rating.
S&P notes consensus on debt-reduction policies and expects debt below 50% of GDP this year.
Despite progress, it cites high security costs, corruption, and low productivity; 2% growth expected for 2025.

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Story summary

Standard & Poor’s (S&P) raised Jamaica’s rating from BB- to BB, signaling improved fiscal discipline.
Finance Minister Fayval Williams called the upgrade a step toward an investment-grade rating.
S&P notes consensus on debt-reduction policies and expects debt below 50% of GDP this year.
Despite progress, it cites high security costs, corruption, and low productivity; 2% growth expected for 2025.