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Jamaica Observer: “Moody’s maintains stable outlook on Gov’t bonds”
Ratings agency Moody’s has maintained its stable outlook on Jamaica’s B2 government bond rating.
Jamaica Observer: “Budget programmes need to be slashed by $16.8 billion, PM says”
Prime Minister Bruce Golding said the country needs to slash its $84 billion budget for programmes by 20 per cent, or $16.8 billion.
Jamaica Gleaner: “BOJ cuts rates again – Benchmark now at 18%”
The Bank of Jamaica has sliced another percentage point off its five open market instruments, in anticipation that the downward trend for inflation will continue and that the foreign exchange markets will remain stabilise.
Jamaica Observer: “Creating a reward system for economic progress”
Over the past few weeks, Jamaica has been grappling with the issues of a credit rating downgrade, a fragile fiscal situation, and a reported 3.9 per cent decline in the economy.
Jamaica Gleaner: “Jamaica’s fiscal woes at heart of downgrade”
Much of the discussions on the S&P rating downgrade from B- to CCC+ suggest it was premature, given that in recent months Jamaica’s credit profile has improved steadily.
Jamaica Gleaner: “Latibeaudiere knocks S&P rating”
In language echoing that of other senior government officials, central bank governor Derick Latibeaudiere branded Standard & Poor’s downgrade of Jamaica as premature and unwarranted,…
Jamaica’s central bank has maintained its forecast for a decline in output of between three and four per cent this fiscal year, but said that inflation could be up to two percentage points lower than previously projected.
Jamaica Observer: “Government faces difficult choices in addressing fiscal problems – Latibeaudiere”
The Government is committed to addressing the country’s fiscal problems. However, this will require difficult choices.
Jamaica Gleaner: “Early IMF booster – Jamaica to get US$320m from Fund in September”
EVEN AS discussions continue for Jamaica to resume a borrowing relationship with the International Monetary Fund (IMF), the way has been cleared for the country to get approximately US$320 million (J$28.5 billion) from the fund by early next month.
Jamaica Gleaner: “Remittances plunge – Flow dips to three-year low”
Remittance inflows to Jamaica have already dropped close to 16 per cent since January, and a multilateral agency is predicting that money transfer markets will continue to slide and that the drop would be widespread across Latin America and the Caribbean region.
The Government is again warning Jamaicans to brace for painful changes as it prepares to institute measures to guide the island out of its present economic pickle.
Jamaica Gleaner: “Drastic spending cuts in July underscore fiscal dilemma”
Prime Minister Bruce Golding’s disclosure on Tuesday that the adminis-tration had, in the first four months of the fiscal year, spent $18 billion less than it projected suggests “savings” in July alone at nearly five times the level of the previous three months combined.
Jamaica Observer: “Rating agencies’ credibility doubted again”
As Jamaicans awoke in high patriotic spirits on Independence Day, the news of Standard & Poor’s (S&P) downgrade seemed like a slap in the face.