S&P raises Jamaica’s debt rating

International ratings agency, Standard and Poor’s has raised Jamaica’s debt rating to B-minus from selective default.

S&P says the new rating follows a successful full debt restructuring programme.

The agency said Jamaica’s fiscal performance may improve this year, as the government tries to implement a series of fiscal reforms set by the International Monetary Fund.

But economic recovery is still expected to be slow with Gross Domestic Product growing by 0.5 percent this year.