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Chile quake damage estimated at $30 bn

Chilean President Sebastian Pinera has said property worth USD 30 billion damaged in the 8.8-magnitude quake in the country last month, Xinhua reported.

Updated: Mar 13, 2010, 09:03 AM IST

Santiago: Chilean President Sebastian Pinera has said property worth USD 30 billion damaged in the 8.8-magnitude quake in the country last month, Xinhua reported.
"The property losses caused by the earthquake and (the ensuing) tsunami are estimated at USD 30 billion," Pinera said at a press conference on Friday.

The Februarty 27 earthquake damaged houses, hospitals, schools and other infrastructure.

Pinera said a readjustment has been made in the country`s annual budget after these events.

"We will use some international credits because Chile has a very low external debt," he noted.

He announced the creation of a fund for the country`s reconstruction.

Pinera was sworn into office on Thursday.

IANS