Senior Director at the global credit rating agency, Fitch, Charles Seville says Jamaica’s goal to reduce debt to GDP to 60-per cent by 2025, is still achievable.
The agency affirmed Jamaica’s long term ratings at B+ and revised the country’s outlook to positive.
But, Fitch described the country’s debt to GDP target as “optimistic” and “ambitious”.
In response, Finance Minister, Dr Nigel Clarke, said Jamaica had already set a precedent by reducing the figure to below 95-per cent, a feat which would have also been viewed as ‘optimistic’ years ago.
Mr. Seville agrees that the target isn’t an impossibility.
He notes, however, that much of Jamaica’s fiscal discipline was maintained under the International Monetary Fund program.
That programme ended last year.
Mr. Seville says Jamaica should also be mindful of potential risks.
Charles Seville, Senior Director of the global credit rating agency, Fitch, speaking yesterday on Nationwide @ 5 with Cliff Hughes and Kemesha Swaby.