CroatiaThe World Bank has estimated that two earthquakes which struck Venezuela on June 24 caused direct physical damage worth $19.6 billion. This figure could be doubled if considering reconstruction costs, according to an early assessment released by the World Bank. The earthquakes, measuring 7.2 and 7.5 on the Richter scale, killed approximately 5,000 people, according to government data, while damaging residential buildings, infrastructure, and non-residential structures across northern parts of the country, including the capital city of Caracas. The government estimates nearly 17,000 people were injured and almost 18,000 displaced. The World Bank noted that these earthquakes were the most deadly since 1812, occurring amid already unstable socioeconomic conditions, with a poverty rate exceeding 76 percent. The assessment was conducted using remote seismic modeling, local seismic data, satellite imagery, and damage reports from the government, humanitarian agencies, and field organizations. The estimate does not include costs related to structural improvements or building modernization, which could be two to two-and-a-half times higher than the cost of recovery.
Bias read (Center): The article presents factual information based on the World Bank's report and includes quotes from the World Bank representative. It provides context about the economic situation in Venezuela but does not exhibit clear bias toward any particular political stance. The language remains neutral, and no
