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  • Moody's warns Jamaica's finances weak

    Moody's warns Jamaica's finances weak
    published: Sunday | August 20, 2006
    <DIV class=KonaBody>


    - File
    Dr. Omar Davies, Minister of <SPAN class=kLink style="FONT-WEIGHT: 400; COLOR: blue! important; FONT-FAMILY: Arial, Helvetica, sans-serif; POSITION: relative">Finance</SPAN>, faces new pressures with a warning from Moody's that Jamaica's debt ratios are worse than comparative countries.


    Keith Collister, Business Writer

    Moody's, a leading international ratings agency, has reconfirmed Jamaica's B1 rating, which in its classification is four notches below investment grade of Baa3, but warned that the country's finances were weak.

    Moody's specifically drew attention to the fact that Jamaica was among countries with the weakest finances, in terms of debt to GDP, debt to revenues (mainly <SPAN class=kLink style="FONT-WEIGHT: 400; COLOR: blue! important; FONT-FAMILY: Arial, Helvetica, sans-serif; POSITION: relative">taxes</SPAN>) and interest to revenues ratios.

    In fact, the agency said that if its rating assessments were based on quantitative criteria alone, "Jamaica's <SPAN class=kLink style="FONT-WEIGHT: 400; COLOR: blue! important; FONT-FAMILY: Arial, Helvetica, sans-serif; POSITION: relative">government </SPAN><SPAN class=kLink style="FONT-WEIGHT: 400; COLOR: blue! important; FONT-FAMILY: Arial, Helvetica, sans-serif; POSITION: relative">bond</SPAN> ratings would likely be assigned to a lower rating category."

    Jamaica's debt ratios are not consistent with its B1 rating cohort, or even the entire B1 to C rating category, Moody's acknowledges, but justified its current rating for Jamaica, saying its analysis included strong qualitative elements of steadfast commitment to fiscal discipline, proven ability to respond to shocks, and a strong willingness to pay debts.

    Jamaica's key <A class=kLink oncontextmenu="return false;" id=KonaLink3 &#111;nmouseover=adlinkMouseOver(event,this,3); style="POSITION: relative; TEXT-DECORATION: underline! important" &#111;nclick=adlinkMouseClick(event,this,3); &#111;nmouseout=adlinkMouseOut(event,this,3); href="http://www.jamaica-gleaner.com/gleaner/20060820/business/business4.html#" target=_top><FONT style="FONT-WEIGHT: 400; COLOR: blue! important;
    • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

  • #2
    RE: Moody's warns Jamaica's finances weak

    Yuh notice how Karl post every other articles except this one.
    "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)

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    • #3
      RE: Moody's warns Jamaica's finances weak

      Lazie (8/20/2006)Yuh notice how Karl post every other articles except this one.
      I knew you would!
      "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

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      • #4
        RE: Moody's warns Jamaica's finances weak

        so what you have to say?

        Moody is negitive? Are a Lazie them set it up?

        B- that is a bad ratings.
        • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

        Comment


        • #5
          RE: Moody's warns Jamaica's finances weak

          sorry meant b1
          • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

          Comment


          • #6
            RE: Moody's warns Jamaica's finances weak

            I saw "Pirates of the Caribbean, Dead's Man Chest" over the weekend, and mi a wonder who is the bigger pirate?

            or



            Winning means you're willing to go longer, work harder, and give more than anyone else - Vince Lombardi

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