Grenada hit by deadly hurricane, economic loss reaches one

Prime Minister of Grenada,Is foreign exchange trading illegal Is it gambling? Deacon Mitchell, stated on Tuesday that preliminary estimates indicate that the economic losses caused by the deadly Hurricane Beryl, which struck the Caribbean earlier this month, could amount to one-third of the country's economic output. This natural disaster has delivered a significant blow to Grenada, affecting all aspects of the nation.

According to World Bank data, the gross domestic product (GDP) of this small Caribbean island nation was approximately 1.3 billion US dollars last year. For a country of this scale, losing one-third of its economic output is a tremendous hit. In fact, when Hurricane Ivan hit Grenada in 2004, the economic losses were equivalent to twice its GDP, a historical event that still remains fresh in the memory.

Prime Minister Mitchell emphasized that this estimate is still preliminary and requires further verification. However, there is no doubt that Hurricane Beryl has not only destroyed numerous homes and farms but also caused severe damage to the country's infrastructure. The power grid was destroyed, leading to widespread power outages; the mangrove ecosystem was disrupted, affecting coastal protection; the water infrastructure was damaged, resulting in unstable water supply; and the fisheries sector was heavily hit, threatening the livelihoods of the fishermen.

Beyond material losses, Hurricane Beryl has also had a huge psychological impact on the people of Grenada. Many families have lost their homes and livelihoods and are in urgent need of assistance from the government and the international community. Prime Minister Mitchell has called on the international community to lend a hand and help Grenada overcome this difficulty. He noted that the recovery and reconstruction efforts will require a substantial amount of funds and time, and the Grenadian government is already proactively preparing measures to mitigate the long-term impacts of the hurricane.

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