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JAMAICA REQUEST FOR PURCHASE UNDER THE RAPIDFINANCING INSTRUMENT—PRESS RELEASE;STAFF January 2026 In the context of theRequest for Purchase Under the Rapid Financing Instrument, the •APress Releaseincluding a statement by the Chair of the Executive Board. •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onJanuary 16, 2026, following discussions that ended onDecember 17,2025, with the officials ofJamaicaon economic developments and policies •AStatement by the Executive DirectorforJamaica. TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports and Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.org International Monetary Fund IMF Executive Board Approves a US$ 415 MillionDisbursement to Jamaica to Address the Impact of Hurricane FOR IMMEDIATE RELEASE •The IMF Executive Board approved Jamaica’s request for emergency financial assistanceof about US$415 million to help meet the urgent balance-of-payments needs stemming •The Jamaican authorities continue to work on the recovery of essential services in thehardest-hit areas and on reconstruction efforts, with focus on supporting the most •Jamaica’s strong track record of economic reforms has created buffers that are proving Washington, DC – January 16, 2026:The Executive Board of the International MonetaryFund (IMF) approved a disbursement in the amount of SDR 306.32 million (about US$415million, 80 percent of quota) for Jamaica under the Rapid Financing Instrument’s (RFI) largenatural disaster window. These resources will help meet the urgent balance of payment needs Jamaica’s established track record of economic reforms has created buffers that are helpingto address the economic fallout and reconstruction needs after Hurricane Melissa.Nevertheless, the widespread damage caused by the hurricane together with the resultingfiscal pressures and sharp decline in tourism receipts have generated a sizable balance-of-payments need in the short term. The Government of Jamaica is committed to supporting the Following the Executive Board’s discussion today, Mr. Bo Li, Deputy Managing Director and “Hurricane Melissa has caused unprecedented destruction across Jamaica and is projected tohave a significant negative impact on growth and create an urgent balance of payments need.Despite Jamaica’s multi-layered disaster risk financing strategy and sound macroeconomicpolicies over more than a decade, the financial resources available for disaster recovery are “The authorities’ policy response is helping to mitigate the economic and social impact ofHurricane Melissa. Fiscal policy appropriately aims to provide relief and recovery in thehurricane-affected areas, with a focus on supporting the most vulnerable and rebuildinginfrastructure. In this context, the temporary suspension of the fiscal rule is appropriate. The “With severe damage to agriculture, the hurricane has caused a significant negative supplyshock, which is creating inflationary pressures. The Bank of Jamaica’s commitment to itsinflation target remains essential to anchor inflation expectations and contain second-round “Building on their demonstrated commitment to credible policy frameworks and economicreforms, the authorities aim to continue prioritizing measures to ensure medium-term Jamaica: Selected Economic Indicators Population (2024): 2.84 millionQuota (current; millions SDRs/% of total): 382.9/0.08%Main products and exports: Alumina, tourism, chemicals,mineral fuels, bauxiteKey export markets: U.S., U.K., Canada Money and credit Balance of payments Exchange rate JAMAICA REQUEST FOR PURCHASE UNDER THE RAPID FINANCING December22, 2025 Summary.Hurricane Melissa struck Jamaica shortly after the country successfullycompleted its Precautionary and Liquidity Line and the Arrangement under theResilience and Sustainability Facility with the Fund. Jamaica’s strong track record ofeconomic reforms hascreated critical buffers that are proving invaluable in addressingthe economic fallout and reconstruction needs. Nevertheless, thewidespread Policy Response.Themosturgentpolicyprioritiesare tocomplete the recoveryofessential services in the hurricane-hit areasand ensure rapid and efficientreconstruction efforts.The Government of Jamaicais committedtosupportingthe mostvulnerable segments of the population in hurricane-hit areas and rebuilding of Staff Assessment.The RFI is the appropriate instrument for Jamaica at this juncturegiven theurgent balance-of-payments needs facing the country. Staffisconfident thatthe authoritieswill pursue appropriate policies based on their strong track record andpolicycommitmentsas well as a robust institutional framework for m