Political

Cyclone Idai: Mozambique’s economic losses hit $773m

The World Bank estimates the direct economic losses from Cyclone Idai in Mozambique to range from $656 million to $773 million, a note sent out via the UN said.

In the note, dated April 4, the World Bank said its estimates covered damage to buildings, infrastructure and agriculture.

The bank said its approach did not capture indirect losses such as reduced productivity or business interruptions, and could only provide a certain degree of accuracy.

Source: Voice of Nigeria