Economic woes have compounded the suffering of Venezuelans in La Guaira, a coastal city north of Caracas that was severely damaged by twin earthquakes two weeks ago. The 7.2 and 7.5 magnitude quakes on June 24 have left the city in ruins, with over 4,000 lives lost and nearly 17,000 injured. The United Nations Office for Disaster Risk Reduction estimates material damage losses at almost $37 billion.
Economic Impact and Uncertainty
The economic impact of the disaster is profound. Jobs, goods, and services have vanished, leaving residents in a state of uncertainty. Faisuris Alvarez, who runs a beachside fish stand, is among those grappling with an uncertain future. "What am I going to do? Where am I going to work? What am I going to achieve? Where am I going to get money?" she wonders aloud.
Economist Asdrubal Oliveros notes that the disaster has indirect effects on trade, transportation, supply chains, employment, and consumption. "Reconstruction can become a driver of economic activity, but only if there are sufficient resources, institutions capable of carrying it out, and rules that generate confidence for investment," he said.
Community and Business Struggles
Luis Baena, whose warehouse was destroyed and looted after the quakes, laments the loss of his family business "Bilight," which once employed over 60 households. "The efforts of so many families and so many people who depend on this place are at stake right now," Baena said.
Despite the devastation, some businesses in Maiquetia, La Guaira's economic hub, are beginning to reopen. Hairdresser Anabel Delgado and shopkeeper Enio Fernandez are among those hoping for a gradual return to normalcy. "This is something that takes time, getting back to normal," Fernandez said.
Hope for the Future
As rescue efforts wind down and residents leave the city due to dire economic prospects and trauma, the streets appear more deserted. However, Baena remains optimistic. "Together we will make this a livable place," he said.
Significance for Bangladesh
The situation in La Guaira serves as a stark reminder of the vulnerabilities faced by coastal cities and the importance of robust disaster preparedness and recovery plans. For Bangladesh, a country prone to natural disasters, the lessons from La Guaira underscore the need for effective economic and social support systems to aid recovery and rebuild communities.
