Source: CaribWorldNews.com
Credit rating agency, Standard and Poors has revised its economic outlook on Jamaica from stable to negative.
In making its revision, S&P analysts said that external pressures are likely to dampen growth, strain already high borrowing needs and weaken Jamaica’s external liquidity profile.
The rating agency also expressed concern about the country’s large debt and current account payments, which have increased demand for US dollar liquidity.
These factors, analysts said, could trigger further weakness in the Jamaican dollar.
