Today News Updates,Flash News Update,India News Update,Hot News Update, World news update,Bollywood News updates,Sports news updates,Nasa News Updates

Welcome To Today News Updates

News Updates delivers Flash News Updates; Breaking Hot News Updates; Bollywood News Updates; Cricket News Updates; India News Updates; Sports News Updates; Health News Updates; Technology News Updates; Nasa News Updates, Entertainment News Updates

Wednesday, February 17, 2010

Haiti Earth Quake Damage in Billions

Haiti Earth Quake Damage
Haiti's recent earthquake is the most destructive natural disaster that a single country has experienced, by some measures, and may have caused as much as $13.2 billion in damage, according to a study by the Inter-American Development Bank.

The quake killed an estimated 200,000 to 250,000 people, claiming more lives as a percentage of a country's population than any recorded disaster, said the study by three economists affiliated with the regional development bank.

"While the ballpark estimates of the number of people killed or missing are similar to the 2004 tsunami in Indonesia, the population of Haiti is only a small fraction of the one of the Asian country, making this particular event more damaging than that infamous tsunami," it said.

"It is the most destructive event a country has ever experienced when measured in terms of the number of people killed as a share of the country's population and affected the capital city of the country: the center of commerce, government and communication," the study said.

It tried to estimate the damage by comparing it to damage from past natural disasters. Using the official Haitian government death toll of 230,000 dead led to a damage estimate of $7.7 billion, with a range of $4.4 billion to $13.2 billion. The authors said the damages could be in the upper range of the estimate.

Ten years after the disaster, Haiti's economic output is likely to be roughly 30% lower than it otherwise would have been, the study added. "This is the case even given significant increases in aid flows that tend to occur after a major disaster," the study said. While aid can help, "this does underline the challenge ahead for Haiti and for the international community attempting to support the country."

On Tuesday, a group of apparel-industry executives, with Haitian and U.S. trade officials, announced a program intended to encourage retailers to produce 1% of their U.S. imports in Haiti. The group, meeting at an industry conference in Las Vegas, included Hanesbrands Inc. and Gap Inc., which are among major brands that use Haitian factories to produce their clothing.

The program, called Plus 1 for Haiti, is an extension of the Haitian Hemispheric Opportunity Partnership Encouragement Act. That program, known as HOPE II, allows duty-free sales in the U.S. of Haitian-made apparel. Plus 1, which would similarly allow duty-free access, is designed to create jobs for Haitian factories.

Gail Strickler, assistant U.S. Trade Representative, said the program was developed as retailers asked, "What can we do to help Haiti?" She likened the "Made in Haiti" label to the fair-trade designation for coffee.

Before Haiti begins rebuilding, there are major problems to solve, especially regarding the estimated 300,000 families—more than a million people—whose homes were destroyed by the quake and who are now living in the streets. Haiti's new homeless join an estimated 600,000 families that were already living without permanent housing, according to the Haitian government.

"Shelter is a huge issue. Nothing really compares, I think, in terms of a monumental challenge for right now and for the coming weeks before the rainy season and months before the hurricane season," said Lewis Lucke, the U.S. special coordinator for relief and reconstruction in Haiti.

On most days, Haitians living on the streets look to the skies with anxiety, hoping storm clouds don't build. Earlier this week, a thunderstorm caused widespread panic among families sleeping outside.

Stumble Delicious Reddit Twitter Digg it Facebook Technorati Buzz it Diigo Mixx


Post a Comment

We encourage people to contact us with any comments regarding news or any other queries about this site. We will respond you respectively and promptly.

We are going to moderate comments only to avoid unwanted and spam messages.

Thanks for your interest ! ! ! ! ! ! !

News Category


Copyright 2010 @ News Updates Blog. All Rights Reserved