Jamaica Gleaner: “Another downgrade hits Jamaica”
Claiming Jamaica appears close to defaulting on its debts, ratings agency Moody’s Investors has downgraded the country’s local and foreign currency bonds from B2 to Caa1 with a negative outlook.
Month: November 2009
S & P revises Barbados outlook to negative
Jamaica Observer: “S & P revises Barbados outlook to negative”
NEW YORK, USA – Less than two weeks after downgrading Jamaica’s credit-worthiness, international rating agency Standard & Poor (S&P) announced on Friday that it revised its outlook on regional counterpart Barbados to negative from stable.
Gloomy Jamaica: Fixable?
The Economist: “Gloomy Jamaica: Fixable?”
JUST over two years ago when Bruce Golding’s Labour Party came to power in Jamaica, ending 18 years in opposition, there were modest hopes that it might make progress in tackling the island’s endemic problems of economic stagnation and gang violence.
Downgrade sends GOJ bond prices spiralling downward, again
Jamaica Observer: “Downgrade sends GOJ bond prices spiralling downward, again”
Government of Jamaica (GOJ) global bond prices have dipped over the week since Standards and Poors (S&P) downgraded Jamaica’s debt, but the local financial sector should fare far better than in late 2008, when downward spiralling bond prices and subsequent margin calls sent domestic firms scrambling to find some US$300 million to meet margin calls.
Jamaica Observer: “Reforms needed to boost productivity, says PSOJ head”
Private Sector Organisation of Jamaica (PSOJ) president Joseph M Matalon yesterday outlined a slate of measures surrounding fiscal and regulatory reforms that he believes would lead to greater productivity in Jamaica, which among other things, have been dragged down by the Government’s burgeoning debt.