Venezuela earthquakes could drive economic costs of more than US$10bn: USGS

Shortly after 6pm local time on Wednesday, Venezuela’s capital was hit by a Magnitude 7.2 foreshock and a larger M7.5 mainshock just 39 seconds later, with the US Geological Survey (USGS) giving a 44% chance of more than 10,000 fatalities, and a 45% chance the economic costs exceed US$10 billion.

The quakes, according to several mainstream media reports, have destroyed buildings in the capital city of Caracas, with Venezuela’s Interim President, Delcy Rodríguez’s office stating that 32 people have died in the earthquake and some 700 people are injured.

However, the USGS believes there is a 12% chance of more than 100 fatalities, a 44% chance of more than 10,000 fatalities, and a 30% chance of more than 100,000.

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