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Rebuilding Haiti Gets More Expensive

Posted on Feb 16, 2010
AP / Rodrigo Abd

The presidential palace in Port-au-Prince lies in ruins, a victim of the massive Jan. 12 earthquake.

The damage caused by the earthquake in Haiti may be much worse than previously thought. While initial estimates put the cost of rebuilding at around $5 billion, a new study suggests the quake may have caused damage of close to $14 billion. —JCL

The New York Times:

The devastating earthquake that hit Haiti on Jan. 12 may have caused between $7.2 billion and $13.9 billion in damage, according to a study released Tuesday by a group of economists that surveyed the damage caused by 2,000 natural disasters over the last four decades.

The study showed that the cost of rebuilding could be far higher than initial estimates, which had hovered around $5 billion.

“These estimates are useful to put this event into perspective and to inform the international community of the enormity of the challenge that lies ahead in the task of reconstructing Haiti,” wrote the economists, Eduardo A. Cavallo, Andrew Powell and Oscar Becerra.

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By Blackspeare, February 17, 2010 at 3:07 pm Link to this comment

Sounds like an opportunity for Halliburton!  If they were able to cheat the Iraqis what chance do the Haitians have??!!

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By grumpynyker, February 17, 2010 at 9:11 am Link to this comment
(Unregistered commenter)

Just allow Aristide and his family back into Haiti (no
conditions) and the Lavalas Party to participate in
elections.  After their victory, give them the monies
the US,France, and Canada had been withholding for
decades; let the Haitians rebuild their own country
darn it!!!!!!!!!!

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By ofersince72, February 17, 2010 at 7:06 am Link to this comment

Really , more expensive….

Is it up to a month worth of Iraq and afgan yet???

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By dsmith, February 17, 2010 at 5:38 am Link to this comment
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Wow…14 billion. That’s the exact amount Obama is sending to Afghanistan to expand their agricultural output. Yeah, the plan is to teach Afghans to plant crops other than poppy. I want to see the government oversight report when they critique how that worked out. That’s not unlike spending 14 billion in a country known for it widespread corruption. Lots of leaders are going to become very rich in both of these hell holes.

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