Conservative Estimates Put Minimum Rain Damage at $700-800m

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At least $700-800-million.

That’s the conservative estimate of infrastructure damage following heavy rains and flooding across the island over the past few days.

The projection is being made by Local Government Minister Desmond McKenzie.

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Minister McKenzie says there are contingencies in the country’s budget to deal with situations like this.

However, he did not indicate whether the government may need to access funds under the Standby Arrangement with the IMF, which is designed to help the country respond to economic shocks.

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Meanwhile, Minister McKenzie is describing the devastation in some parts of the country as “enormous” and “frightening”.

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Desmond McKenzie was speaking on Nationwide This Morning.

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