North and South Americans have endured their fair share of hurricanes throughout the last few decades, the results of which range from storms that leave coastlines ravaged with many residents displaced, to the destruction of entire cities. Hurricanes have the power to irrevocably change landscapes and cause countless fatalities. Earlier in September, hurricanes Ingrid and Manuel devastated Mexico’s coasts, causing more harm to the environment and the people living there than has been witnessed in years.
Bloomberg reports that, “The twin hurricanes left at least 139 dead, shut down the highway from Mexico City to Acapulco for a week, and forced 60,000 people from their homes.” Hurricanes Ingrid and Manuel ravaged both of Mexico’s coasts, and their impact was not only immediately dangerous for citizens in the area, but has left the country in a devastating financial state. Moody’s Corp., a global economic research and analytics firm, recently assessed the damages from the deadly storms, evaluating the economic impact the hurricanes had.
According to a report from Moody’s ratings service, reconstruction of cities impacted by the two hurricanes will require between 16 billion and 48 billion pesos, which is equal to between about 1.2 billion and 3 billion U.S. dollars. The report also suggests that due to Mexico’s minimal allocated relief funds, they are forced to apply a credit negative status. In the wake of ruin caused by the hurricanes, Mexico’s affected states are focused on rebuilding roads, bridges, and houses, of which countless were destroyed by wind, flooding, and landslides from the storms. This rebuilding process will take an immense toll on the country’s economy.
Despite the overwhelming number of displaced and injured people, Mexico will prove resilient in its recovery. Hopefully more funds will be allocated for hurricane relief efforts in the future.