Jamaican Prime Minister Andrew Holness on Tuesday said that last week's Hurricane Melissa, the strongest-ever storm to hit its shores, caused damage to homes and key infrastructure roughly equivalent to 28% to 32% of last year's gross domestic product.
Holness told lawmakers the estimate was conservative, based on damages assessed so far, and that short-term economic output could decline by 8% to 13%.
He said costs would push up Jamaica's debt-to-GDP ratio and that his government would activate emergency provisions to temporarily suspend the country's fiscal rules.
Holness, whose government set out credit and insurance provisions for a storm similar to last year's Hurricane Beryl, said he was seeking financial support from regional allies, development agencies and the private sector.
"Experts describe Melissa to be on the very edge of what is physically possible in the Atlantic Ocean, a storm powered by record sea temperatures," he said.
"Its force was so immense that seismographs hundreds of miles away registered its passage," he added.
"Hurricane Melissa wasn't only a tragedy: It was a warning."
Scientists say storms are intensifying faster as a result of greenhouse gas emissions warming ocean surfaces, piling up fuel for seasonal storms. Caribbean leaders have long called for reparations from wealthy heavy-polluting nations in the form of aid or debt relief.
Holness pledged to rebuild infrastructure to withstand the worsening impacts of climate change, including moving parts of the electric grid underground.
"Every repaired bridge, re-roofed home and rebuilt road must be designed for the storms of tomorrow, not the storms of yesterday," he said.
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Russia is holding a significantly scaled-back Victory Day parade in Moscow on 9 May 2026, reflecting heightened security concerns and the ongoing war in Ukraine, now in its fourth year.
Centre-right leader Péter Magyar was sworn in as Hungary’s prime minister on Saturday, propelled into office on promises of change after years of economic stagnation and strained ties with key allies under his predecessor Viktor Orbán.
Efforts to end the U.S.-Iran war appeared to stall as the two sides exchanged fire in and around the Strait of Hormuz. A reported CIA assessment suggested Tehran could withstand a U.S. naval blockade for months despite mounting sanctions and renewed Gulf attacks.
Health authorities are monitoring a widening hantavirus alert after new suspected cases emerged in Spain and on a remote South Atlantic island, days after an outbreak on a cruise ship left three people dead and several others infected.
The U.S. and Iran exchanged fire in and around the Strait of Hormuz, though both sides signalled they did not want escalation. The clashes come as Washington awaits Tehran’s response to a proposed deal to end the war while leaving key disputes, such as Iran’s nuclear programme, unresolved for now.
Efforts to end the U.S.-Iran war appeared to stall as the two sides exchanged fire in and around the Strait of Hormuz. A reported CIA assessment suggested Tehran could withstand a U.S. naval blockade for months despite mounting sanctions and renewed Gulf attacks.
Singapore has isolated and is testing two of its residents who travelled aboard a cruise ship linked to a deadly hantavirus outbreak, the Communicable Diseases Agency (CDA) said on Thursday.
Russia is holding a significantly scaled-back Victory Day parade in Moscow on 9 May 2026, reflecting heightened security concerns and the ongoing war in Ukraine, now in its fourth year.
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Asian stocks surged to record highs on 7 May as investors priced in growing hopes of a potential Middle East peace deal, while oil prices eased and the U.S. dollar weakened amid shifting global risk sentiment.
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U.S. President Donald Trump has said he will raise tariffs on cars and trucks imported from the European Union to 25% next week, up from the 15% level agreed last year, accusing the bloc of failing to comply with its trade commitments.
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