Jamaica Tourism Rebuild Plan Has No Budget, Bond Money Goes Elsewhere
The Jamaica tourism rebuild was unveiled with no budget attached. Jamaica separately priced a US$1 billion bond that funds a buyback and the budget. The post Jamaica Tourism Rebuild Plan Has No Budget, Bond Money Goes Elsewhere appeared first on The Rio Times .
Jamaica’s tourism minister unveiled a plan on September 16, 2026, to rebuild the country after Hurricane Melissa, but the plan lacks a budget. Meanwhile, a separate US$1 billion bond sale was conducted six days prior, with the proceeds directed towards debt buyback and the 2026-27 budget. The bond, issued by the Government of Jamaica, carries a 6.25% coupon and matures in 2037.
The bond, priced on September 10, 2026, sold out quickly, with a spread tightened from 6.50% to 6.25%, saving investors 25 basis points. Strong demand contributed to the favorable pricing. The bond proceeds will not fund tourism reconstruction; instead, they will retire older, higher-interest bonds and fund general budget spending in the 2026-27 fiscal year.
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