Moody's ratings agency has upgraded Jamaica's long-term issuer and senior unsecured ratings to B-2 from B-3 with an outlook of stable.
Moody's stated that the rating upgrade reflects Jamaica's steady track record of improved fiscal policy management.
The ratings agency says the move to inflation targeting also played a major role in its decision.
Moody's says that move enabled the Bank of Jamaica to ease monetary policy which in turn stimulated demand for credit.
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