Caribbean News

Turks and Caicos economic outlook upgraded by S&P, Premier comments

Grand Turk, Turks and Caicos – July 6, 2017 – Now ‘positive’ is the Turks and Caicos Islands’ economy, an upgrade from ‘stable’ by Standard & Poor’s as informed by  TCIG on Thursday, which announced that the BBB+ rating for the TCI is maintained.

It is the fourth consecutive year that the TCI has held onto this enviable rating from S&P and Finance Minister, Premier Sharlene Robinson gave a comment which subtly gives a pat on the back to the previous administration and Finance team.

“For the last three consecutive assessments of the TCI’s sovereign rating, tremendous work has been undertaken and completed in relation to the retirement of the TCI $170m bond…”

The Premier added that while this BBB+ rating is not a new achievement for the Turks and Caicos, her Government is committed to living up to the growth forecast by S&P.

“My Government will ensure that the required positive and sustainable injections into the TCI economy continues.  In particular the required public and private sector reforms and the necessary funding is allocated to improve TCI’s infrastructure.”

It was said, in that media release, that the S&P report has forecast strong performance over the next three years for the TCI.

Next time we tell about the warnings of the S&P for the Turks and Caicos Islands.







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