Spanish
San Juan.- The International Monetary Fund (IMF) announced this Monday that it approved on Friday a disbursement of 415 million U.S. dollars for Jamaica, in order to alleviate the effects of Hurricane Melissa that impacted the country in October 2025 as category 5 and caused the death of at least 45 people and devastating damage to homes and infrastructure.
The IMF indicated that these funds come from the natural disaster window of its Rapid Financing Instrument and will help meet the urgent balance of payments needs arising from the devastation of Melissa.You may be interested in: Abinader sends humanitarian aid to the government of Jamaica
The IMF's executive board stated that widespread damage, along with the resulting fiscal pressures and the sharp decline in tourism revenue, have generated "a considerable need" for short-term balance of payments. The organization noted that the Jamaican government has pledged to support the most vulnerable segments of the population in the areas affected by the hurricane and to rebuild the damaged infrastructure. "The authorities remain committed to fiscal responsibility and debt reduction once the crisis caused by the hurricane has subsided. The authorities are also continuing to prioritize the achievement of their inflation target and ensuring financial stability," emphasized the IMF. For his part, IMF Deputy Managing Director Bo Li stated that Hurricane Melissa left "unprecedented destruction throughout Jamaica and is expected to have a significant negative impact on growth and generate an urgent need for balance of payments." "Despite Jamaica's multi-faceted disaster risk financing strategy and sound macroeconomic policies implemented for over a decade, the financial resources available for post-disaster recovery are insufficient," Li pointed out. The IMF official noted that fiscal policy is appropriately aimed at providing aid and recovery in areas affected by the hurricane, focusing on supporting the most vulnerable and rebuilding infrastructure. Finally, Li emphasized that it is appropriate to limit interventions in the foreign exchange market for the prevention of disorderly market conditions. The category five hurricane hit the island on October 28th of last year, causing the death of at least 45 people and damage estimated at more than 9 billion US dollars.
