Jamaica’s debt to fall faster than projected, says Fitch

Fitch Ratings expects Jamaica’s debt-to-GDP ratio to decline faster than official forecasts, a new report released this month shows.

The rating agency also made note of the country’s successful general election held on September 3 in a separate but related update.

“Fitch Ratings forecasts Jamaica’s economy to expand by 2.1 per cent in 2025 after a contraction in 2024. We expect the debt/GDP ratio to reach 58 per cent in FY26, below the government’s target of 60 per cent,” the report stated.

Comparatively, Jamaica’s debt-to-GDP ratio now stands at 62.4 per cent, down from 67.3 per cent, following an update to the country’s international statistical methodology that nudged up the nominal value of GDP, according to a notice on the Ministry of Finance Debt Management Unit’s website.

The total stock of public debt was $2.19 trillion as at August 2025.