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Expected Change in Administartaion, Isn't that with Hlness calling election. Regardless, there will be a change in administration because either Holness or Bruce will be at the top and both of them will have their own teams not exactly what Bruce had? Elections cost money, campaigning cost money...If early elections is called, their will be waste in the public sector and focus will be shifted from the tight policies to winning the leections....reason nuh man
A who unuh really a try fool?
Gov’t remains positive despite S&P downgrade
Finance Minister Audley Shaw is remaining positive despite ratings agency Standard and Poors (S&P) placing Jamaica on a watch for a downgrade in the near future.
The watch came as S&P on Monday revised its outlook for Jamaica to negative.
A negative outlook means that the country's credit rating could be downgraded in the next six to 18 months.
But in a statement on Monday night the Finance Minister said the issues that are posing a threat to Jamaica's credit worthiness are being ironed out and will lead to a reversal of the outlook.
In commenting on the rationale for the revision of its outlook, Standard and Poors hinted that it was because it believes that an impending change in administration from expected early elections, will not be good for the economy.
The rating agency also said the lack of a review from the International Monetary Fund (IMF) influenced its decision.
However, Mr. Shaw says discussions are continuing with the IMF as Jamaica seeks to secure the agreed Medium-Term Economic Plan which will ensure both fiscal and debt sustainability.
He also pointed to the public sector pension and tax reforms, ongoing wage negotiations with groups representing government-paid workers and the sale of the Government's shareholding in Clarendon Alumina Production.
The Finance Minister added that Standard & Poor’s has stated that the achievement of these conditions will lead to an improvement of Jamaica’s credit worthiness.
And despite the Finance Minister's positive spin to the Standard and Poor's warning the PNP says the development is not a good sign for Jamaica.
According to Opposition Spokesman on Finance, Dr. Peter Phillips, it among other things highlights the Government's mismanagement of the economy.
“It has been something the Opposition has been saying for sometime now and certainly it requires that the government, first of all, comes clean once again about the situation which the country faces and fill in the gaps in the information that exists about the nature of their discussions with the IMF and the choices which the country faces,” Dr. Phillips said.
A who unuh really a try fool?
Gov’t remains positive despite S&P downgrade
Finance Minister Audley Shaw is remaining positive despite ratings agency Standard and Poors (S&P) placing Jamaica on a watch for a downgrade in the near future.
The watch came as S&P on Monday revised its outlook for Jamaica to negative.
A negative outlook means that the country's credit rating could be downgraded in the next six to 18 months.
But in a statement on Monday night the Finance Minister said the issues that are posing a threat to Jamaica's credit worthiness are being ironed out and will lead to a reversal of the outlook.
In commenting on the rationale for the revision of its outlook, Standard and Poors hinted that it was because it believes that an impending change in administration from expected early elections, will not be good for the economy.
The rating agency also said the lack of a review from the International Monetary Fund (IMF) influenced its decision.
However, Mr. Shaw says discussions are continuing with the IMF as Jamaica seeks to secure the agreed Medium-Term Economic Plan which will ensure both fiscal and debt sustainability.
He also pointed to the public sector pension and tax reforms, ongoing wage negotiations with groups representing government-paid workers and the sale of the Government's shareholding in Clarendon Alumina Production.
The Finance Minister added that Standard & Poor’s has stated that the achievement of these conditions will lead to an improvement of Jamaica’s credit worthiness.
And despite the Finance Minister's positive spin to the Standard and Poor's warning the PNP says the development is not a good sign for Jamaica.
According to Opposition Spokesman on Finance, Dr. Peter Phillips, it among other things highlights the Government's mismanagement of the economy.
“It has been something the Opposition has been saying for sometime now and certainly it requires that the government, first of all, comes clean once again about the situation which the country faces and fill in the gaps in the information that exists about the nature of their discussions with the IMF and the choices which the country faces,” Dr. Phillips said.
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