KINGSTON, Jamaica, The recent upgrade of Jamaica’s credit rating by Moody’s Investors Service, from B3 with a stable outlook to B3 with a positive outlook, has pleased Generation 2000 (G2K), the young professional affiliate of the Jamaica Labour Party (JLP) — The upgrade was recently made public by the international ratings agency.
“The Moody’s report speaks specifically to several areas in which the Government has put considerable work, such as shifting from direct taxation to indirect taxation, reducing spending on wages and interest and the major payments made against Jamaica’s national debt,” G2K said in a press statement. “
Moody’s improved outlook on Jamaica’s economy is a clear signal that the tough decisions that were made by the Government have strengthened international confidence in Jamaica,” said President Stephen Edwards.
“The good news from the credit agency emerged just days after Jamaica’s Finance Minister Dr Nigel Clarke reported a 20 per cent increase in average annual foreign direct investment (FDI) for the period 2016/17 to 2017/18 when compared to the period 2012/13 to 2015/16.