Macro · Caribbean
—The headline. Jamaica’s economy shrank by 5.9% in the first quarter of 2026, the lingering toll of Hurricane Melissa.
—The total bill. Damage, losses and added costs reached about 12.2 billion dollars, equal to roughly 56.7% of the island’s 2024 output.
—Hardest hit. Mining fell 26.6% and agriculture 20.3%, while tourism lodging and food services dropped 20.4%.
—The cushion. A 150 million dollar catastrophe bond paid out within weeks, part of about 650 million dollars in pre-arranged disaster funds.
