Fitch Warns Ja to Sign with Imf or Face Downgrade
Weekly Gleaner, The; North American ed. › October 15, 2009
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Summary
The agency also cautioned that Jamaica's "extremely weak fiscal profile amid a rising inter est burden and recession was placing the government under financial stress" and that the risk of default was "significant".
"An IMF programme is critical for providing support to Jamaica's balance of payments, assuaging investor sentiment, allowing the central bank to navigate the unfavourable external environment and potentially opening up the door to additional multilateral funds," said [Fitch] analyst Shelly Shetty. Jamaica expects to finalise negotiations with the IMF by mid-September."A significant delay or a nonapproval of an IMF agreement would seriously undermine Jamaica's creditworthiness," said the Fitch analyst.See the full content of this document
Extract
Fitch Warns Ja to Sign with Imf or Face Downgrade
JAMAICA MUST secure a borrowing arrangement with the International Monetary Fund (IMF) or face a downgrade, Fitch Rat...
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