Fitch warns Jamaica to sign with IMF or face downgrade

Posted on August 20, 2009 by Your Financial FactSheet

Jamaica Gleaner: “Fitch warns Jamaica to sign with IMF or face downgrade”

Jamaica must secure a borrowing arrangement with the International Monetary Fund (IMF) or face a downgrade, Fitch Ratings agency warned yesterday. A deal with the IMF, which Jamaica is negotiating a US$1.2 billion (J$10.5 billion) standby facility, is essential to avoid a debt default Fitch said.

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