LatinNews Daily - 25 November 2020

* Nicaragua’s Finance Minister Iván Acosta and Foreign Minister Denis Moncada have presented a new report which puts the cost of damage caused to Nicaragua by the recent hurricanes Eta and Iota at US$742m, or 6% of national GDP. Of this, damage to infrastructure is costed at US$617.4m and economic losses at US$121m, with the remainder necessary to help those affected. Acosta said that around 3m people (out of total pop. 6.6m) were exposed to the hurricanes in 56 municipalities (out of a total 153), the majority of which suffered some form of damage. He said 5,800 homes had been “completely affected”, while 38,000 were left with partial damage. The finance minister said that losses to the education sector in terms of damaged infrastructure totalled US$41.3m while for the health sector, damage to infrastructure was estimated at US$12.6m. Acosta noted that the authorities had yet to put a figure on losses to agriculture but so far losses to the fishing sector were estimated at US$19.6m.

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