That’s not to say that a few high networth individuals, who were in the US stock market or perhaps some pension funds did not lose some money, though pension fund losses should not be serious, since in all Caribbean jurisdictions there are restrictions on foreign investments by pension funds. In reality, pension funds hold most of their assets in government securities.
Jamaica was perhaps the most seriously affected through the financial channel and this was because of their specific circumstances. It is no secret that Jamaica has a very high level of official external debt (about $ billion or 50 per cent of GDP, while external reserves are about $ billion).