Saturday, October 29, 2016

Haiti counting $2bn toll from Hurricane Matthew

Haitian authorities have said the destruction caused by Hurricane Matthew's devastating passage over the island nation earlier this month caused nearly $2 billion in damages.


Studies by the World Bank and the Inter-American Development Bank put the estimated cost of damage and economic losses at 124 billion Haitian gourdes (€1.72 billion), officials with the Ministry of Economy and Finance told a news conference.

The storm, which killed 546 people according to official figures, battered an already fragile economy - one of the poorest in the world - with losses representing roughly one-fifth of the country's Gross Domestic Product, the officials said.

The southern region of Haiti, considered the country's breadbasket, was particularly hard hit by winds of 250km/h and torrential rains.

The agricultural sector alone suffered losses estimated at nearly $600 million. And more than 175,000 people lost their homes, with those losses also estimated at close to $600 million, economists say.
 [rte.ie]
29/10/16
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