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8.5% of 2036 and the 8% of 2039 are all rated Caa3 by Moody’s, three
notches or ratings lower than when the JLP left office! The B- rating at
Standard and Poor’s is the same as the Jamaica Labour Party left it. Where
is the progress?
The JLP handed over the following:
(Post global crisis)
The Economy under PNP now:
(No global crisis)
Unemployment at Oct 2011: 12.8%
Unemployment at Oct 2014: 14.2%
GDP per capita December 2011:
US$5,254
GDP per capita December 2014:
US$4,874
4
GDP growth for 2011: 1.7%
GDP growth for 2014: 0.3%
Debt-to-GDP FY2011/12: 131.5%
(GOJ’s calculation)
Debt-to-GDP FY2014/15: 131.6%
(
GOJ’s calculation)
Public Sector debt FY2011/12: $1.788
trillion
(IMF’s calculation)
Public Sector debt FY2014/15: $2.235
trillion
(IMF’s calculation)
Debt-to-GDP FY2011/12: 141.7%
(IMF’s calculation)
Debt-to-GDP FY2014/15: 140.1%
(
IMF’s calculation)
Inflation – calendar year ended Dec
2011: 6%
Inflation – calendar year ended Dec
2014: 6.4%
Gross International Reserves – Dec
2011: US$2.8204 billion
Gross International Reserves – Dec
2014: US$2.4730 billion
Net International Reserves – Dec 2011:
US$1.966 billion
Net International Reserves – Dec 2014:
US$2.0011 billion
Credit Ratings – Dec 2011:
Standard & Poors: B-
Moodys: B3
Credit Ratings – Dec 2014:
Standard & Poors: Caa3
Moodys: B3
Foreign exchange Dec 2011: J$86.6 to
1USD
Foreign exchange Mar 16, 2015:
J$115.39 to 1USD
Real GDP – Calendar year ended Dec
2011: $841.6 billion
Real GDP – Jan to Sept 2011: $550.5
billion
Real GDP – Calendar year ended Dec
2013: $841.6 billion
Real GDP – Jan to Sept 2014: $550.8
billion
4
S&P’s projection