Commonplace & Poor’s (S&P) World Rankings has upgraded Jamaica’s long-term overseas and native forex sovereign credit score scores from ‘BB-’ to ‘BB’, whereas sustaining a Constructive outlook, the company introduced on September 25, 2025.
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The improve displays S&P’s evaluation of Jamaica’s strengthening institutional and coverage frameworks, underpinned by broad political and financial consensus on macroeconomic insurance policies aimed toward lowering public debt. The company highlighted Jamaica’s adherence to its legislated debt-to-GDP goal of 60 % or much less by March 2028, noting a robust observe report of sustained main surpluses which have steadily lowered the nation’s debt burden.
In line with S&P, Jamaica is the one nation amongst 141 rated sovereigns to realize a main surplus above 3 % of GDP for 10 consecutive years, regardless of main shocks such because the COVID-19 pandemic and climate-related occasions. The Constructive outlook displays the expectation that continued surpluses might enable the federal government to satisfy its debt goal sooner than deliberate, additional lowering the debt load.
Finance Minister Fayval Williams welcomed the improve, calling it “a really constructive improvement for Jamaica” that strikes the nation nearer to reaching an investment-grade ranking. “This ranking motion acknowledges the federal government’s unwavering dedication to fiscal self-discipline, whereas additionally specializing in making investments that can result in larger GDP development and thus present a sustainable and improved high quality of life for Jamaicans,” Williams stated.
S&P’s determination reinforces investor confidence in Jamaica’s financial administration and indicators continued progress towards long-term monetary stability.
