Ecuador to hike taxes, sell assets to fund quake rebuilding

[Bacchus4.0]

http://www.reuters.com/article/us-ecuador-quake-coast-idUSKCN0XH0S2


Ecuador will temporarily increase some taxes, sell assets, and may issue new bonds on the international market to fund a multi-billion dollar reconstruction after a devastating 7.8 magnitude quake, a somber President Rafael Correa said on Wednesday.

The death toll from Ecuador's weekend earthquake neared 600 and rescue missions ebbed as the traumatized Andean nation braced itself for long and costly rebuilding.

"It's hard to imagine the magnitude of the tragedy. Every time we visit a place, there are more problems," Correa said, fresh from touring the disaster zone.
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That quake, the worst in decades, killed 570 people, injured 7,000 others, damaged close to 2,000 buildings, and forced over 24,000 survivors to seek refuge in shelters, according to government tallies.
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Keep an eye on this one. The government isn't telling an accurate story. Many more deaths than reported is likely.

[AuntPatsy]

1. So horrific, long lasting....