Jamaica's economy proved more resilient than post-hurricane projections suggested, but faces elevated and widening risks that demand urgent response, the Independent Fiscal Commission (IFC), the country’s finance watchdog, has warned.

Despite the “monumental economic shock” from Hurricane Melissa, which struck in October and caused an estimated $2 trillion in damage and losses equivalent to 56.7 per cent of 2024 GDP, Jamaica’s macroeconomic pillars “remain sound”, it said in a statement. The storm also triggered the suspension of the fiscal rules.

The IFC made the comments in a statement Wednesday, following yesterday’s tabling of its Statement on Fiscal Performance for fiscal year 2025-2026, which ended on March 31, in the House of Representatives.