Prime Minister Andrew Holness yesterday argued that there is a need to engage credit rating agencies in discussions on what the United Nations is calling a “looming debt crisis”.
“We need to bring the credit rating agencies into our discussions, as many countries are afraid to apply for debt relief because of the threat of a ratings downgrade,” the prime minister told a virtual meeting of heads of government and United Nations officials hosted virtually by Canada’s Prime Minister Pierre Trudeau.
He suggested that a special framework “applicable only to this extraordinary period” was more than worthy of contemplation, “given the larger medium-term cumulative benefit of more countries achieving earlier recovery with sustainable debt arrangements”.
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