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More favourable credit ratings for Friday, 01 February 2008 
Jamaica has received another favourable report from an international credit-rating agency.
New York-based international , Bear-Stearns, has maintained its market performance recommendation on Jamaica's global.
The announcement follows a recent meeting with key stakeholders in Jamaica including government officials, functionaries, independent economic analysts, and private-sector representatives.
Bear-Stearns stated that the current prognosis balances its view that Jamaica faces greater fiscal and balance-of-payments challenges than sovereign nations in the same category.
The firm cites higher average oil prices and a slowdown or recession in the U.S. economy as the main external risks to the Jamaican economy.
On the domestic scene, the major challenges include inflation that is running at 16.8 per cent over the past 12 months, a rising current account deficit, slow growth, and a fiscal deficit that remains high.
Consequently, Bear-Stearns noted that Jamaica has become slightly more bearish on the credit side due to the significant head-winds it sees facing Jamaica this year.
Like Moody's rating agency earlier this week, Bear-Stearns is placing confidence in the Government's "firm commitment to fighting the debt overhang with a combination of austerity and economic growth rather than.
In this regard, retention of the agency's confidence rides on the
Jamaica has received another favourable report from an international credit-rating agency.New York-based international , Bear-Stearns, has maintained its market performance recommendation on Jamaica's global.
The announcement follows a recent meeting with key stakeholders in Jamaica including government officials, functionaries, independent economic analysts, and private-sector representatives.
Bear-Stearns stated that the current prognosis balances its view that Jamaica faces greater fiscal and balance-of-payments challenges than sovereign nations in the same category.
The firm cites higher average oil prices and a slowdown or recession in the U.S. economy as the main external risks to the Jamaican economy.
On the domestic scene, the major challenges include inflation that is running at 16.8 per cent over the past 12 months, a rising current account deficit, slow growth, and a fiscal deficit that remains high.
Consequently, Bear-Stearns noted that Jamaica has become slightly more bearish on the credit side due to the significant head-winds it sees facing Jamaica this year.
Like Moody's rating agency earlier this week, Bear-Stearns is placing confidence in the Government's "firm commitment to fighting the debt overhang with a combination of austerity and economic growth rather than.
In this regard, retention of the agency's confidence rides on the