The initial estimates of the economic damage caused by the April 25 earthquake in Nepal are in—and the numbers are staggering.
The overall damage is estimated to be at about $10 billion, according to the Nepal government—nearly half of its gross domestic product (GDP) of $19.2 billion. According to IHS Global Insights, a research firm, the estimated cost for rebuilding homes, roads and bridges alone could run up to $5 billion.
For Nepal—one of the poorest countries in the world—rebuilding its ravaged economy will be particularly difficult after it suffered years of slow growth.
The country’s finance minister, Ram Sharan Mahat, said earlier this week that Nepal urgently needs short-term funding, while the government begins work on chalking out a long-term plan.
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This post will be updated as more information becomes available.
A little over two weeks after a massive earthquake-ravaged Nepal, the struggling Himalayan nation has just been hit by another big 7.3 magnitude quake.
The quake struck at about 12.30 pm local time on May 12, 76 km northeast of the capital city of Kathmandu, near the country’s border with China, according to the United States Geological Survey. Tremors were felt across eastern and northern India.
With more than 8,000 dead and thousands more injured after the 7.8 magnitude earthquake hit on April 25, Nepal is already grappling with its worst natural disaster in decades.
Meanwhile, aftershocks—some as big as 6.3 magnitude—are continuing to hit. Here’s a map from the USGS, updated at 1.50 pm local time:
Journalists in the area tweeted that locals rushed out of their houses as the tremblor hit.
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The link below is to an article that takes a look at the situation in Nepal and how to pray for that country.
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This item has been corrected.
On April 25, Nepal was hit with the biggest earthquake in 80 years—but just how big was it?
Amidst the destruction, there was a spat on the issue between the US and China. The US Geological Survey (USGS), which monitors earthquakes worldwide, reported that the Nepal earthquake measured at a magnitude of 7.8. However, the China Earthquakes Network Center (CENC), which hopes to provide a similar service, measured the same earthquake at a magnitude of 8.1.
A difference of 0.3 in the magnitude of the seismic activity may not seem like much, but the apparently small differences in magnitudes of earthquakes reported by different agencies around the world are, in real-life, huge. Because if we are to believe the Chinese data, the Nepal earthquake may have been 2.8 times bigger than if we believe the US data.
This is because of how earthquakes are measured.
Scientists use a type of logarithmic scale to ensure…
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Rishi Khanal spent about 80 hours in a rubble-filled room with three dead bodies after the seven-story building he was in collapsed around him during Saturday’s massive earthquake in downtown Kathmandu. The 28-year-old was finally pulled out of the rubble on Tuesday, Reuters reports, by a Nepali-French rescue team combing the capital city for survivors.
“It seems he survived by sheer willpower,” said Akhilesh Shreshtha, a doctor who treated him, after it appeared that Khanal had no access to food or water for three days and escaped with nothing but a possible broken leg.
Khanal’s rescue was a heartening but rare story from the devastation in Nepal, where a 7.8-magnitude earthquake over the weekend killed more than 5,000 people. That toll is sure to rise significantly as rescue teams move away from Kathmandu, which they began to do early Wednesday, and reach devastated villages near the quake’s epicenter.
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