In the aftermath of Hurricane Melissa, Jamaica’s financial infrastructure is gradually coming back online, though significant challenges remain. Edmundo Jenez, CEO of JETS Limited, provided a detailed update on the status of the Multilink and Automated Clearing House (ACH) networks, which are critical for domestic financial transactions. While the core systems were restored by Wednesday morning, widespread power outages and acts of vandalism are severely hampering the recovery process. Jenez explained that the financial networks were shut down preemptively to avoid damage from the hurricane. Although the primary switches in Kingston are operational, only 45% of Automated Banking Machines (ABMs) and less than 14% of Point-of-Sale (POS) terminals are currently functional. Transaction volumes have plummeted, with Thursday’s expected $2 billion in transactions reduced to just $600-$700 million. Jenez emphasized that without restored power and telecommunications, the pace of recovery will remain sluggish. He also expressed frustration over vandalism incidents, including damaged ABM screens and attempted thefts, which further complicate efforts to restore normalcy. Despite these setbacks, JETS remains committed to supporting Jamaica’s economic recovery.
