Caribbean News
Jamaica’s Upgraded Credit Training Will Yield Favourable Financing Terms – Dr. Clarke
#Kingston, September 19, 2023 – Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says that upgrading of Jamaica’s credit rating by Standard and Poor’s will facilitate access to financing on better terms.
Standard and Poor’s (S&P) Global Ratings, on September 13, upgraded the Government of Jamaica’s Long-Term Foreign and Local Currency Issuer Default Rating (IDR) from B+ to BB-, with a ‘Stable’ outlook. 
It is the best global grading Jamaica has received from S&P since the entity started rating the country’s sovereign debt in 1999.
“Jamaica has the opportunity to access financing at costs lower than we have before, on a relative basis. Because the higher your credit rating, it means the more credit-worthy you are and the more credit-worthy you are, is the less that investors demand to lend you money,” Dr. Clarke stated.
“So, if you pay less for money that you need to finance yourself, it means more becomes available for other expenditure [such as] health, security and infrastructure. So, credit worthiness is linked to fiscal space. The higher your level of credit-worthiness, the more fiscal space that you can have, which, over a long period of time, amounts to a lot of resources,” he added.
The Minister was speaking during the opening ceremony for the Jamaica Institution of Engineers’ observance of Engineers’ Week, at The Summit in New Kingston on Monday (September 18).
Dr. Clarke also pointed out that there is a direct linkage between credit ratings and the country’s ability to finance the society’s needs.
He said Jamaica previously had a ranking of CCC, which is known as a junk credit rating status.
“There was a time where interest payments were 16 per cent of gross domestic product (GDP). Today, interest payments are like five per cent of GDP, and that is what has allowed us to rebalance the Jamaican economy, to put us on a strong footing and spend more on infrastructure than ever before,” Dr. Clarke indicated.
The Finance Minister also noted that the higher the credit rating, the more favourable the investment climate is deemed to be.
“It means that investments are less risky. Our credit rating is linked to the riskiness or the perceived riskiness of an economy. The higher the credit rating is the more open the economy will be to foreign investment. More foreign investment means more economic activity, more economic activity means more jobs for Jamaicans. So a higher credit rating provides an environment that supports the creation of more jobs for the Jamaican people,” Dr. Clarke stated.
Additionally, he said a higher credit rating affects the terms of trade that Jamaica has with the rest of the world.
Dr. Clarke pointed out that local businesses have to post bonds overseas in order to import items, while noting that Jamaica imports US$6 billion worth of items.
“For all of those imports, the businesses have to get credit… and for some of them, they have to post credit insurance, they have to put bonds up. All of those become more affordable, the higher the credit rating of the country. So, this is wonderful news for Jamaica,” he stated.
Meanwhile, Dr. Clarke said Jamaica’s current credit rating is “just three notches below investment grade”.
“[Globally] there are trillions and trillions of institutional funds, [such as] pension funds. But you know what, because they are dealing with people’s lifetime savings, the rules forbid them to put a dollar of those kinds of money into countries that are below investment grade. When we get to investment grade credit rating, however, it is a different story,” the Minister informed.
“The kind of flows that will come to our shores represents the kind of investments that we have never imagined possible before. That is why it must be a national effort to, not only maintain the credit rating that we have earned as a country but to improve it… so that Jamaica becomes open to trillions of dollars of investable funds, to create opportunities for our people,” he added.
Dr. Clarke maintained that a higher credit rating will facilitate easier access to finance for projects.
Contact: Latonya Linton
Release: JIS
Caribbean News
Sandals Corporate University Wins Double Gold in AI Innovation and Hands-On Hospitality Training
Montego Bay, St. James: Sandals Corporate University (SCU), the learning and development hub for Sandals and Beaches Resorts team members, continues to set the gold standard for excellence in AI implementation and training strategy as they celebrate their recent double win in the 2025 Brandon Hall GroupTM HCM Excellence Awards®.
Collaborating with Canadian-based corporate training company, Flint Learning Solutions, the SCU was awarded two gold medals for
projects submitted to the categories: Best Use of AI in Business Impact for elevating guest experiences with AI training and Best Learning in the Flow of Work for improving hospitality with on-the-job activities.
The awarding organisation, The Brandon Hall Group™, has, for over 30 years empowered and certified business excellence globally and through the HCM Excellence Awards®, which recognises organisations that have implemented best practices for initiatives in learning and development, talent acquisition and management, leadership development, human resources, sales performance, diversity, equity and inclusion and the future of work.
Highlighting the achievement, SCU’s Senior Corporate Director, Dr. Luz Longsworth stated, “the Hospitality industry requires a flexible and fast paced approach to on-the-job training and the SCU is excited about the possibilities for expanding the use of AI in its training model to enhance our team members’ learning experience and to ultimately continue providing our Sandals and Beaches Resorts guests with consistently excellent service.”
Lenise White, Sandals Resorts’ measurement and evaluation specialist also shared her enthusiasm about the win.
“The double gold win from the Brandon Hall Group™ is a tremendous recognition of the impact the SCU has made in transforming hospitality learning and service delivery. It signifies that our efforts to integrate AI into training are not only innovative but also delivering real business impact.”
The partnership between SCU and Flint has, since its application, redefined on the job learning, demonstrating how innovative technology and training can ease real-world business challenges in the hospitality industry. The programme establishes a new standard for hospitality talent development and has given way to the integration of personalised, AI-powered learning, geared towards enhancing team member capabilities and elevating the guest experience without disrupting daily operations.
“We’re incredibly proud of our partnership with Sandals Corporate University and the exceptional results we’ve achieved together. SCU’s
leadership in embracing innovative approaches to talent development has been instrumental in creating a programme that empowered employees to create the exceptional, memorable experiences that define the Sandals brand and keep guests returning year after year,” shared Flint’s Chief Executive Officer, James Glover.
The 2025 award entries were evaluated by a panel of veteran, independent senior industry experts, Brandon Hall Group analysts and executives based on their alignment to business needs and environment, programme design, functionality and delivery, innovation and creativity among other criteria.
“This year’s Excellence Award winners exemplify the transformative power of strategic human capital management. Through their innovative approaches to talent development and employee engagement, these organizations have not only achieved remarkable business outcomes but have also redefined what it means to create truly people-centric workplaces,” remarked Brandon Hall Group Chief Operating Officer and HCM Excellence Awards® Programme Leader, Rachel Cooke.
The win follows another exceptional achievement in AI-powered training after the SCU copped the bronze award for Best Corporate University in Generative Artificial Intelligence (GenAI) Implementations from the Global CCU, earlier this year.
Photo Captions:
Header: A group of proud team members from Sandals South Coast team pose for a quick photo op after receiving their training completion certificates.
1st insert: Sandals Ochi Beach Resort General Manager, Carol Bourke (left) presents Learning and Development Manager, Joy Bernard with her certificate of recognition for the role that she played in administering the training initiative.
2nd insert: Ghislain Boutoulle, hotel manager at Beaches Turks and Caicos (right) beams as he congratulates bar department team member, Andrew Clarke on his successful course completion.
MONTEGO BAY, September 11 (JIS): Jamaica’s capacity to identify and support children with autism has been bolstered by a
groundbreaking three-year training initiative that continued into its second phase at the St. Ann’s Bay Regional Hospital in St. Ann, on Wednesday, September 10.
Dubbed the Autism and Developmental Needs Skills Training for Caregivers and Families, the programme will create a core of 10 master trainers who will in turn train others across the island to build a sustainable network of experts.
The programme is being carried out under the World Health Organization’s (WHO) Caregiver Skills Training (CST) framework.
It is being made possible through a partnership among the Sandals Foundation, Autism Speaks, The Bob and Rita Marley Foundation, and The Colour of Autism Foundation.
Speaking to journalists, Executive Director of the Sandals Foundation, Heidi Clarke, said the training is designed to make autism support more accessible across Jamaica by equipping those already working with children and families to provide practical tools and strategies.
“These 10 master trainers are going to be able to go back out into the communities and train other people to kind of spread the effect, getting it into every corner in Jamaica, so that we’re able to help identify [autistic] children and help their parents, teachers and caregivers to be able to understand how to deal with them,” she explained.
The Sandals Foundation and Sandals Resorts International have committed a total of US$162,000 in cash and kind support towards the entire three-year endeavour.
This investment covers online training, technical support, stipends for trainees, printed materials, transportation, and accommodation for the capacity-building sessions.
“Mico University College is directly in contact with all of the various [master trainers] in the respective organisations. They’re the ones who identified the people who are going to be trained,” Mrs. Clarke noted.
“So, it’s everybody from Early Stimulation to the Montego Bay Autism Centre, among other institutions, that are spreading autism awareness and support across the country,” she added.
One of the trainees, Sandrea Long-White, Project Manager at Community Based Rehabilitation Jamaica, noted that the training is particularly valuable for rural communities where her organisation works directly with families in their homes.
In fact, it is important to equip parents living in rural Jamaica with the skills to manage the daily challenges of raising a child with autism, to ease the overwhelming and uncertain pressures, she noted.
“So, one of the key takeaways from the training, thus far, is that whatever the child can do, we focus on that and build on that strength that
the child has. That’s something that we need to teach our parents to recognise, the little achievements that our disabled children can do to build their skill to help them in their development,” Mrs. Long-White underscored.
In the meantime, Head of Special Education at The Mico University College, Michele Meredith, pointed out that the three-year programme will be certified.
Ms. Meredith said it will combine the WHO’s packaged content with components from The Mico’s own special education courses to give graduates a recognisable certification in the field.
Moreover, after the initial three-year cycle, funded by the Sandals Foundation, The Mico University College will take over the programme as a formal extramural offering, she noted.
The second phase of the programme will run from September 8 to 12. In addition to the trainers, six families will also participate in the sessions.
Since 2016, some 35 Caregiver Skills Training (CST) sites have been implemented worldwide, certifying more than 250 master trainers, with language translations under way to include 10 additional languages.
Contact: Okoye Henry
Release: JIS
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