Economic losses mount as Venezuela earthquake death toll grows
Summary
Powerful earthquakes hit Venezuela near its capital, causing at least 188 deaths and heavy damage. The U.S. Geological Survey estimates the economic losses could be up to 7 percent of Venezuela’s economy. International aid and a reconstruction fund from the International Monetary Fund (IMF) are planned to help rebuild.Key Facts
- Two strong earthquakes, measuring 7.2 and 7.5, struck about 160 km west of Caracas on Wednesday.
- At least 188 people have died due to the earthquakes.
- Estimated economic damage could be between 1 and 7 percent of Venezuela’s $111 billion GDP.
- Venezuela’s interim President Delcy Rodriguez announced a $200 million IMF fund for rebuilding infrastructure, hospitals, and housing.
- The U.S. is sending rescue teams and aid while assessing the damage.
- The main airport near Caracas remains closed, complicating rescue operations.
- The United Nations and Switzerland have also sent humanitarian aid and rescue equipment.
- More than 20 million Venezuelans already lived in poverty before the earthquake, with limited access to food, medicine, water, and power, making relief efforts challenging.
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