Category: Top stories: Local

How bad can it get!

Posted on by Your Financial FactSheet


Jamaica Observer: How bad can it get!

Earlier this week, the international rating agency Moodys weighed in on Jamaica, pronouncing that its fiscal situation was perilous and that funds from an IMF Standby Agreement would not be the answer to Jamaica’s problems, thus adding its voice to a chorus of damming assessments on the state of the Jamaican economy.


Jamaica Observer: “US economy will grow in the final quarter of 09 – Obama”

President Barack Obama predicted Wednesday that the United States economy would grow again in the final quarter of 2009, pulling further out of a long and crippling recession.


Jamaica Observer: “Increased World Bank funding for Jamaica”

Jamaica and the World Bank are currently in close collaboration which could see the bank providing US$100 million in budgetary support to the country early next year.

Downgrade sends GOJ bond prices spiralling downward, again

Posted on by Your Financial FactSheet


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.

S&P downgrades credit card receivables, Air Jamaica, NCB

Posted on by Your Financial FactSheet


Jamaica Gleaner: “S&P downgrades credit card receivables, Air Jamaica, NCB”

INTERNATIONAL RATING agency Standard & Poor’s has followed its November 2 downgrade of Jamaica’s long-term sovereign credit from CCC+ to CCC with parallel markdowns of the island’s credit card merchant voucher receivables, as well as the long-term corporate credit ratings for national carrier Air Jamaica and the National Commercial Bank of Jamaica (NCB).


Jamaica Observer: “The importance of that IMF money”

With the Government coming under increasing pressure with both its fiscal accounts and balance of payments out of line, consumer confidence down and the country facing a winter of discontent, it is paramount that the US$1.2 billion standby arrangement with the IMF be agreed before the year is ended.


Jamaica Observer: “Jamaica deserves cheap money”

It is unfortunate that some of our more vocal analysts seem to regard our most recent downgrade as a government management issue.


Jamaica Observer: “Jamaica’s productivity is the lowest in the Caribbean”

It may take another 40 years before Jamaica’s productivity increases to the level of its Caribbean neighbours.


Jamaica Observer: “Wehby calls for major changes to be made at BOJ”

Don Wehby has called for major changes to be made to the operations of the Central Bank.