The Venezuelan government prohibited the export of construction materials through Official Gazette No. 43,409. The measure will be in effect until December 31, 2026, according to Decree No. 5,376.

According to the official gazette, the export of various construction materials intended to address the effects of the June 24 earthquakes is suspended, assigning them Legal Regime 1, corresponding to “Prohibited Export,” through a partial modification of the current Customs Tariff.

This government measure is aimed at preserving the materials needed for reconstruction in the areas affected by the June earthquakes, particularly in La Guaira state and the capital, Caracas, but also in other states of the country with severe structural damage.

M.Pino

Source: ultimasnoticias

(Reference image source: Thomas Kinto on Unsplash)

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The World Bank issued a preliminary assessment last week of the cost of damage in Venezuela caused by the June 24 earthquakes, estimating it at $19.6 billion.

The organization focuses on the destruction of residential buildings, and the estimated amount represents approximately 18 % of the country’s GDP.

The damage is concentrated in the coastal state of La Guaira and Caracas, the Venezuelan capital, especially the city center. Nationwide, it is estimated that more than 890 educational institutions suffered serious damage and 38 health centers were affected by the earthquakes.

Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean, stated that Venezuela needs more investment, referring to the recovery efforts following the two earthquakes. She added that the organization will continue its assessments to assist the country, including potential financing.

Regarding the reconstruction period, Cordeiro estimates it would take five years if the country manages to mobilize $9.8 billion in additional financing to bolster the fiscal response and $9.6 billion in private investment.

M.Pino

Source: bloomberglinea

(Reference image source: Jason Mitrione on Unsplash)

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La entrada World Bank estimates $19.6 billion in damage from earthquakes in Venezuela apareció primero en Bitfinance.

Following the earthquakes that struck Venezuela on June 24, aviation authorities “confirmed the temporary suspension of commercial flights by airlines, as well as operations at Simón Bolívar International Airport in Maiquetía.”

The Venezuelan Association of Airlines (ALAV) confirmed the suspension of commercial flights, in addition to increased traffic controls in the airport area for security reasons.

Iberia, American Airlines, and Avianca announced the temporary suspension of commercial flights to and from the country.

“Through NOTAM A0266/26 from the Simón Bolívar International Airport in Maiquetía, it was learned about the closure” of various runways with dates ranging from July 2 to 25.

M.Pino

Source: bancaynegocios

(Reference image source: John McArthur on Unsplash)

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La entrada Venezuela restricts airspace for security measures apareció primero en Bitfinance.