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Hurricane damage in Jamaica US$362M

Prime Minister of Jamaica, PJ Patterson announced Monday that preliminary estimates of damage caused by hurricane Ivan were approximately US$362 million or 4.8 percent of Gross Dosmetic Production (GDP). In a release, Jamaica High Commissioner to TT, Lorne Mc Donnough, said this estimate, which is TT$2.24 billion, should still be considered preliminary.

Patterson stressed that a comprehensive assesment would not be available for another two to three weeks, after all estimates of infrastructural damage in rural areas were received and evaluated. Notwithstanding the extent of the damage, Mc Donnough said the government of Jamaica, expected the economy to grow in 2004 by two percent. He also indicated that hurricane Ivan would not derail foreign investment flows into Jamaica, which last year stood at US$720.4 million.

Trinidad and Tobago News

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