S&P still bearish on Jamaica

Rating agency Standard & Poor's has maintained a negative outlook and B- long-term foreign-currency rating for Jamaica in its latest report issued a fortnight ago.

The ratings were constrained by the country's stalled International Monetary Fund (IMF) standby agreement, its narrow economic structure, large informal sector, and persistent fiscal and external deficits, which have led to heavy debt-servicing burdens.

S&P said the IMF remains uncertain "how Jamaica's relationship with the fund will develop" under the administration of the recently elected Prime Minister Portia Simpson Miller.

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