Moody’s recently reviewed Jamaica’s credit ratings, highlighting the government’s commitment to economic reforms that have reduced the high debt burden. While the debt is declining, challenges remain, including a high share of foreign-currency-denominated debt, exposing the country to exchange rate risks. Moody’s projects a primary surplus of about 6% of GDP for FY24/25 with government debt expected to decrease to 70.5% of GDP by FY24/25.