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Eckhard Garbers DIPL-KFM, ACIS, TEP

Treasury Minister welcomes confirmation of credit rating

Posted by Eckhard Garbers DIPL-KFM, ACIS, TEP on 24th September 2015

Isle of Man Treasury Minister Eddie Teare MHK has welcomed the announcement of the Isle of Man’s unchanged Aa1 credit rating by Moody’s Investors Service.

Moody’s commented: 'The Isle of Man’s Aa1 sovereign rating and stable outlook reflect the island’s resilient economy and the government’s robust finances. The former is supported by the economy’s growth, which is stronger and less volatile growth than that of other offshore centres, as well as its significant diversification away from banking towards high growth sectors such as ICT, despite being a small economy.'

The Minister said: ‘The Isle of Man is an international financial centre which can be relied upon by its investors to provide a stable, pro-business environment in which they can flourish and by other countries as a responsible and reliable partner.  Whilst the report’s conclusions demonstrate the Isle of Man’s continued and sustained economic success, we must remain vigilant in maintaining sustainable public finances.'

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