Jamaica loses 41% of 2024 GDP due to Hurricane Melissa

Jamaica: Around 41% of Jamaica’s 2024 GDP have been lost due to the damage caused by Category 5 Hurricane Melissa. A total of US$8.8 billion damage has been estimated by the World Bank for the country in different sections across residential, non-residential, infrastructure and agriculture.

As per the preliminary findings, around 41% of damage has been assessed from the residential buildings, 33% has been allocated to infrastructure, while 21% of the damage is being accessed from the non-residential buildings. In addition to that, 5% damage has occurred in the agriculture sector which included livestock and other related infrastructure.

The Global Rapid Damage Estimation (GRADE) added that the physical damage to agriculture is comparatively lower. However, the sector is expected to face significant economic losses in different sectors and other institutions.

Following the impact of Hurricane Melissa, Jamaica is advancing into the reconstruction phase, as per the prime minister. Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean noted that the country’s resilience, strong leadership and collective determination will help the country to rebuild lives and restore opportunity.

The comprehensive disaster risk financing system of Jamaica has assessed the country, aiming to respond to a range of impacts that are caused by financial instruments. As per the authorities, the disaster of this magnitude will require scaled-up and well-coordinated efforts and partnerships.

The World Bank and the IDB extended their support to the government of Jamaica with several factors including contingent financing and technical assistance. It has also included the mechanisms such as GRADE and other long-term support which will be helpful in coordinating resilient recovery and reconstruction.

Hurricane Melissa battered Jamaica in October and killed over 30 people in the country along with damaging houses and other infrastructure. World Bank Vice President Cordeiro added that they are ready to offer support to the country in collaboration with other international development partners to help deliver a resilient and inclusive recovery.