Hurricane Melissa to Rapidly Intensify
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Haiti is expected to see catastrophic flash floods and landslides early next week causing “extensive infrastructural damage and potentially prolonged isolation of communities.” The southwestern peninsula of Haiti, from the border of the Dominican Republic to Port-au-Prince, was placed under a hurricane watch and a tropical-storm warning.
According to the hurricane center, Hurricane Melissa has a significant possibility of making landfall on Jamaica as a major hurricane and could maintain major hurricane strength when it reaches eastern Cuba. Forecasters say Melissa poses little to no risk for Florida and the U.S. at this time.
Jamaica's central location in the Caribbean, the island has never recorded a direct landfall from a Category 4 or 5 hurricane, according to records from the National Hurricane Center (NHC) dating back to 1850.
Jamaica's $150 million IBRD CAR Jamaica 2024 parametric World Bank catastrophe bond has been marked down on secondary pricing sheets and this morning the
Tropical Storm Melissa, responsible for multiple fatalities in the Dominican Republic and Haiti, is nearing hurricane strength, sparking concerns over severe flooding, powerful storm surges, and extensive wind damage in Jamaica and surrounding regions.