ghazi52
THINK TANK: CONSULTANT
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The island has been slowly emerging from the 2022 economic meltdown, when it ran out of foreign exchange reserves to pay for essential imports such as food, fuel and medicines.
However, it was hit hard in November by a cyclone that killed at least 643 people and affected more than 10 percent of the island’s 22 million population.
The storm caused an estimated $4.1 billion in direct physical damage to buildings and agriculture, according to the World Bank.
The country has been stabilising its fragile economy with the help of a $2.9 billion IMF bailout agreed in early 2023, but high energy prices have seriously challenged recovery efforts.
However, it was hit hard in November by a cyclone that killed at least 643 people and affected more than 10 percent of the island’s 22 million population.
The storm caused an estimated $4.1 billion in direct physical damage to buildings and agriculture, according to the World Bank.
The country has been stabilising its fragile economy with the help of a $2.9 billion IMF bailout agreed in early 2023, but high energy prices have seriously challenged recovery efforts.
