Guatemala: Economic Losses Worth $1.5 Billion

The financial cost of the heavy rains seen this year equates to 4.1% of the country's GDP.

Monday, September 27, 2010

The statistic comes from a report by the Economic Commission for Latin America and the Caribbean, ECLAC (CEPAL in Spanish), which analyzed data on damage caused to 20 September.

"Tropical storm Agatha combined with May's violent eruption of the Pacaya volcano alone caused losses valued at around $1 billion," reports Prensalibre.com.

Since then the heavy rains have saturated soils leading to further issues including severe short term infrastructure problems.

More on this topic

Losses of $ 78 Million in Guatemalan Agriculture

January 2011

Climate problems in 2010 left $ 78.3 million in losses.

Data from the Ministry of Agriculture, Livestock and Food reported damage to 80.262 hectares of crops and 567 hectares of forest.

"Out of the total losses, $ 65 million were crops, $ 7.8 million in destruction of irrigation infrastructure, $ 3.2 million in the livestock sector, $ 760,000 in forestry and $ 1.5 million in hydro-biological," reports Prensalibre.com.

$28 Million Losses in Salvadoran Plantations

October 2009

Lack of rain has reduced yield at corn, bean and sorghum plantations.

The most affected seed is corn, with $21.5 million losses, reported the Agriculture Ministry (Mag).

"The ministry's report summarizes other preliminary studies presented in the past weeks. From an economic loss perspective, bean is second after corn, with losses over $3 million.

Agatha Aid: $3.5 Million for Honduran Farmers

June 2010

Banadesa, the Agricultural Development Bank, announced that it has $3.5 million in loans available for farmers who lost crops due to Agatha tropical storm.

Johny Handal, president of the bank, explained their plans to disburse the resources on July.

He told newspaper La Tribuna: “we have enough funds to attend most of the farmers requesting loans for sowing basic grains, and even for banana”.

Costa Rican Agriculture Faces Up to $39 Million in Losses

November 2010

The Ministry of Agriculture estimates losses of $ 39 million in the wake of storms Nicole and Thomas.

The report by the Regional Operations Authority noted that losses from storm Nicole, last September, amounted to $ 13 million. Preliminary reports put the damage caused by Tomas tropical storm at $26 million.

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Caribbean Central American Action

Caribbean-Central American Action (CCAA) is a private, independent organization that promotes private sector-led economic development in the Caribbean Basin and throughout the Hemisphere.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador, Costa Rica and Caribbean Community
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