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Jamaica’s Upgraded Credit Training Will Yield Favourable Financing Terms – Dr. Clarke

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#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

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Liberty Caribbean Supports Regional Forum on AI, Cyber Resilience and Digital Inclusion  

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Port of Spain, TRINIDAD & TOBAGO (February 24, 2026) — Liberty Caribbean, the operators of Flow, Liberty Business and BTC, recently served as Gold-Level Partner of the two-day Trinidad and Tobago Internet Governance Forum (TTIGF), themed “The Innovation Paradox – Balancing Progress with Responsibility and Resilience”.

The Digital Divide is of particular interest to Liberty Caribbean and is being addressed through its Charitable Foundation across the region. Low broadband penetration in the Caribbean contributes to diminished opportunities for individuals, communities, and local economies, but with the support of funding partners, this gap can be addressed through a comprehensive programme – JUMP – that focuses on providing access, devices, and digital skills.

“Liberty Caribbean was proud to serve as Gold-Level Partner of the TTIGF because the conversations taking place here shape key digital policies for multiple stakeholders,” said Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad.

“As technology accelerates at an unprecedented pace, we must ensure that innovation strengthens our societies rather than fragments them. The theme, ‘The Innovation Paradox – Balancing Progress with Responsibility and Resilience,’ speaks directly to the work we do every day: building networks that are not only fast and reliable, but secure, inclusive and future-ready.”

Across the Caribbean, the digital divide remains one of the most pressing barriers to equitable growth. Low broadband penetration limits access to education, entrepreneurship and essential services, and that is why we are deeply committed to closing this gap.

Through the Liberty Caribbean Charitable Foundation and initiatives like the JUMP Programme, the company is expanding access to technology, affordable connectivity and digital skills training so that individuals and communities are empowered to participate fully in the digital economy.

Martin-Sulgan further stated “at Liberty Caribbean, we believe progress and responsibility must move in lock step. By investing in resilient networks, inclusive programmes and trusted partnerships, we are helping to build a Caribbean that is innovative, secure and prepared for the opportunities ahead.”

Topics covered during the Forum, with over 140 participants, included “Securing Critical Infrastructure”, Integrating AI into Digital Transformation”, “The Digital Divide”, The Human Cost of Innovation – Mental Health and Well-being in the Digital Age’, and AI, Cyber Resilience and Regional Innovation”.

Focused on the underlying mandate of the Conference theme thought leaders, innovators, policymakers, technologists, researchers, and community stakeholders were invited to explore how countries can evolve boldly without compromising values or long-term stability.

Photo Caption: 

TTIGF – l-r Darren Campo, Regulatory & Compliance Officer; Yolande Agard-Simmons, Senior Manager Communications; and Kevon Swift, Senior Manager Government and Regulatory Affairs of Flow Trinidad in attendance at the Post Event Mixer at Caribbean Telecommunications Union’s Head Office in St Clair, Port of Spain

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Mottley Sworn in After Historic Clean Sweep in Barbados Election

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Barbados, February 12, 2026 – Prime Minister Mia Amor Mottley was this afternoon officially sworn in for a third consecutive term, hours after delivering one of the most emphatic election victories in Caribbean political history — another complete capture of all 30 seats in Barbados’ House of Assembly.

The ceremony, conducted by President His Excellency Lt. Col. The Most Honourable Jeffrey Bostic, marked the formal start of a new administration following the February 11, 2026 general election, which returned the Barbados Labour Party (BLP) to power with a renewed and overwhelming mandate.

In a statement after taking the oath, Mottley said she accepted the responsibility “with humility and resolve,” thanking the people of Barbados for placing their trust in her leadership once again and urging national unity as her government begins its new term. Attorney Wilfred Abrahams was also sworn in as Attorney General.

The result is historic not only for its scale but for its consistency. This is the third straight general election in which the BLP has won every constituency, reinforcing Mottley’s dominance in national politics and extending an unmatched era of one-party control in the modern democratic period.

Voting day unfolded under the watch of a CARICOM Election Observation Mission, led by Antigua and Barbuda’s Supervisor of Elections Ian Hughes and supported by senior electoral officials from Belize and Jamaica. The team engaged key institutions ahead of the poll and monitored the process across the island.

Regional leaders were swift in their congratulations.

Guyana’s President Irfaan Ali described the outcome as “emphatic and historic,” saying the clean sweep reflected how deeply Mottley’s leadership has connected with Barbadians and expressing optimism about strengthening ties between the two countries.

Jamaica’s Prime Minister Andrew Holness also hailed the victory, noting that her re-election provides an opportunity to deepen cooperation within CARICOM and advance shared regional priorities.

The scale of the win again leaves Barbados without a parliamentary opposition, a reality that has become a defining feature of the political landscape since 2018. Supporters argue the repeated mandate reflects public confidence in Mottley’s stewardship of economic reform, climate diplomacy, the transition to a republic, and Barbados’ expanding global influence.

Now, newly sworn in and backed by another unanimous parliamentary majority, Mottley begins a third term with both extraordinary political capital and equally high expectations at home and across the region.

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Liberty Caribbean Committed to ‘Elevating Region’ at CANTO  

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Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad & Tobago

Liberty Caribbean is Diamond Sponsor of CANTO Connect 2026 and 42nd AGM

 

Port of Spain, TRININDAD & TOBAGO (February 1, 2026) — Liberty Caribbean, the operators of Flow. Liberty Business and BTC, has reaffirmed its commitment to turning regional connectivity into measurable economic and social outcomes as Diamond Sponsor of CANTO Connect 2026 and its 42nd Annual General Meeting.

CANTO is the leading regional body that brings together telecommunications operators, ICT providers, regulators, governments, and industry partners to support the development of the Caribbean’s digital and communications landscape.

Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad & Tobago delivered the sponsor’s address on behalf of Liberty Caribbean.

“The work of laying fibre and lighting towers is done; connectivity is now our foundation,” she said.

“The real task before us is to translate that foundation into innovation, productivity and prosperity for our people. Intelligent connectivity, such as networks designed for 5G, AI and IoT, will be the platform for smarter public services, more resilient systems and scaled opportunities for Caribbean entrepreneurs.”

Martin-Sulgan emphasised that infrastructure alone will not deliver sustainable progress.

“Digital progress must become digital prosperity. That means creating career pathways for young people, helping local businesses scale and ensuring citizens across our communities can fully participate in the digital economy. A connected Caribbean should also be a confident, creative and globally competitive Caribbean,” she said.

Liberty Caribbean is represented by a senior delegation at CANTO Connect to support the conference objectives of aligning policy, investment and execution across the region under this year’s theme ‘Elevate the Caribbean – From Connectivity to Global Competitiveness’.

Liberty Caribbean’s delegation includes Inge Smidts, Chief Executive Officer; Desron Bynoe, VP and General Manager, Flow Barbados; Susanna O’Sullivan, VP and General Manager, North Caribbean; Marilyn Sealy, Senior Director, Head of Communications; Dominic Boon, VP, People; Daniel Neiva, Chief Commercial Officer, B2B; Bradley Ramcharan, Director, B2B, Trinidad & Tobago; Yolande Headley, Country Manager, Dutch East Caribbean; and Jade Reymond, Country Manager, Flow Anguilla.

Martin-Sulgan thanked CANTO’s local secretariat for convening the forum and urged delegates to convert conversation into action.

“If we align policy, capital and capability, the Caribbean can move from connectivity to competitiveness. Liberty Caribbean will continue to invest in resilient networks, nurture homegrown talent and partner to deliver measurable social and economic value across our markets,” she said.

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