The Government Board of the Worldwide Financial Fund (IMF) has authorised a disbursement of US$415 million for Jamaica, underneath the Fast Financing Instrument’s (RFI) giant pure catastrophe window.
This was disclosed by the IMF in a launch on Friday January 16.
The IMF says the US$415 million or Particular Drawing Proper, SDR of 306 million will assist meet the pressing steadiness of cost wants stemming from the devastation brought on by hurricane Melissa, complementing the sources at present accessible underneath Jamaica’s catastrophe threat financing framework.
In December 2025, the Jamaican authorities welcomed the announcement of a serious restoration and reconstruction bundle of as much as US$6.7 billion from worldwide improvement companions, following the widespread devastation brought on by the class 5 hurricane.
The federal government additionally disclosed that the nation requested assist underneath the pure catastrophe window of the RFI, which may present as much as US$415 million.
In its newest launch detailing the approval of the requested funds, the IMF mentioned Jamaica’s established observe document of financial reforms has created buffers which might be serving to to deal with the financial fallout and reconstruction wants after hurricane Melissa.
Nonetheless, the widespread injury brought on by the hurricane along with the ensuing fiscal pressures and sharp decline in tourism receipts have generated a large balance-of-payments want within the quick time period.
The discharge mentioned the federal government of Jamaica is dedicated to supporting probably the most susceptible segments of the inhabitants in hurricane-hit areas and rebuilding of broken infrastructure.
The IMF famous that whereas recognizing that the hurricane shock justifies a brief easing of the fiscal stance, the authorities stay dedicated to fiscal duty and debt discount as soon as the hurricane shock has receded.
It mentioned the authorities additionally proceed to prioritize attaining the inflation goal and guaranteeing monetary stability.
Following the IMF govt board’s dialogue on Friday, Deputy Managing Director and Chair, Mr. Bo Li, mentioned emergency help underneath the fast financing facility would assist to assist aid efforts, significantly for probably the most susceptible, and speed up the restoration.
He underscored that robust collaboration with worldwide companions stays necessary.
Mr. Li added that with extreme injury to agriculture, the hurricane has brought about a big unfavourable provide shock, which is creating inflationary pressures.
He mentioned the Financial institution of Jamaica’s dedication to its inflation goal stays important to anchor inflation expectations and include second-round results.
Mr. Li mentioned limiting overseas change interventions to the prevention of disorderly market situations is suitable.
The deputy managing director added that steady supervisory vigilance to make sure monetary stability is warranted.
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