 |
|
|
 News Around the Republic of Mexico | November 2005 
Fox Says Hurricane Damage Could Top $2.8 Billion
 Associated Press
| | Mexico's President Vicente Fox talks to reporters, Friday, Nov. 4, 2005, before the Fourth Summit of the Americas, in Mar del Plata, Argentina. Heads of state of 34 Western Hemisphere countries will gather to attend the summit Friday and Saturday. (AP Photo/Roberto Candia) |
Mexico City – Damage from hurricanes that ripped through the southern part of Mexico last month could top 30 billion pesos ($2.8 billion), President Vicente Fox said.
In a speech on infrastructure this week, Fox said that following recovery efforts for Hurricanes Stan and Wilma, the federal disaster relief fund was left with about 4 billion pesos (US$370 million; euro307 million).
While the government has replenished the fund to around 9 billion pesos (US$840 million; euro700 million), Fox said the overall cost of the rebuilding effort will be much more.
"I believe that in the end, if we combine the fund with insurance, and state and municipal participation, plus what people contribute to their own recovery efforts, it's an impact that easily could exceed 30 billion pesos," Fox said.
Fox has asked Congress to designate $1 billion (euro830 million) of the additional $8 billion (euro7 billion) that the lower house added to next year's budget toward replenishing the disaster relief fund.
So far, the federal government has disbursed US$400 million (euro330 million) in hurricane relief, of which $330 million (euro275 million) went to states affected by Stan. |
| |
|
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us