Financial stakeholders are reacting positively to Finance Minister Dr. Nigel Clarke’s announcement that the government plans to start a programme to independently rate corporate issuances.
Minister Clarke made the announcement yesterday as he addressed the third Caribbean Finance and Investment Forum at the Jamaica Pegasus Hotel in New Kingston.
Chief Executive Officer of JMMB Bank, Jerome Smalling, says the move will create transparency in the sector. He says it will also drive economic growth by increasing the focus on small and medium-sized enterprises.
Mr. Smalling says the move will also see firms benefiting from better interest rates from banks.
In the meantime, Financial Analyst, Colin Steele, says there are risks associated with the move. But, he says the benefits far outweigh those risks.