Government of Jamaica
USD-denominated senior unsecured global bonds of the Government of Jamaica. Jamaica has executed one of the most credible EM debt-reduction journeys of the past decade — debt-to-GDP fell from ~145% in 2013 toward sub-80% on sustained primary surpluses. The JAMAN curve is the benchmark Caribbean USD sovereign reference.
Core hold for any Caribbean USD income mandate. The 8.50% coupon out to 2036 captures Jamaica's continued credit-improvement story while compensating for residual sub-IG risk. This is our highest-conviction sovereign name on the recommended list — we expect the spread to UST to grind tighter as ratings progress toward investment grade over the next 2–3 years.
This research note is prepared by GK Capital Management for informational purposes only and does not constitute an offer or solicitation to buy or sell any security. Indicative metrics shown are subject to change without notice. Credit ratings are sourced from public rating agency reports as of the publication date and may have moved since. Past performance is not indicative of future results. Investors should consult their advisor before transacting in any fixed income security.