27 September 2024

Standard and Poor downgraded Honduras’s outlook to negative from stable but there was better news for Costa Rica that improved to Ba3. S & P made their decision based on “lesser monetary flexibility” blaming international reserve and credit declines and the continued losses of Empresa Nacional de Energía Eléctrica (ENEE). One possible exit would be passing IMF recommendations which will be made after their visit in October. Moody’s announced Costa Rica’s credit rose and maintained a positive outlook. This followed an analysis of its fiscal profile which has seen three consecutive years of debt/GDP ratio decreases.

The full publication is available internationally on a subscription-only basis. For more information on subscriptions visit https://www.caribbean-council.org/subscriptions/