Jamaica PM says hurricane Melissa caused damage equivalent to nearly one-third of GDP

At least 75 people were confirmed dead across the Caribbean, including 43 in Haiti and 32 in JamaicaJamaican prime minister Andrew Holness has said last week’s Hurricane Melissa, the strongest-ever storm to hit the country’s shores, caused damage to homes and key infrastructure equivalent to roughly 28% to 32% of last year’s gross domestic product.Holness told the Caribbean nation’s lower house the $6bn to $7bn estimate was conservative, based on damages assessed so far, and short-term economic output could decline by 8% to 13%. Continue reading...