Bahamas, September 5th, 2017 – Nassau – The cost of damages by Hurricane Irma could be as high as Hurricane Matthew, $600m and that said the Finance Minister, would not be good for the country’s economy.
Beyond the emotional heartbreak when property is lost or damaged in a storm, when the country suffers infrastructural and environmental damages in these systems and when there is loss of life or serious injury – hurricanes and their effects also leave behind big bills and can turn economies upside down.
The Bahamas is a prime example of that, as millions have been borrowed in attempts to rebound from brutal hurricane hits, some islands are never the same; Grand Bahama is a case in point.
Deputy Prime Minister Peter Turnquest after a meeting over the weekend related to Hurricane Irma preparations, he told media that the country is still paying for Hurricane Joaquin which hit in September 2015 and Hurricane Matthew which struck in October 2016 and now, barreling toward our islands is a new system which some forecasts say will be at Category 4 strength when it reaches Bahamas’ shores.
The minister said almost any damage will create a great setback, something The Bahamas can ill afford.
By Deandrea Hamilton