Papua New Guinea leader Marape says extraordinary weather causing disasters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 29 2024
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Should l Buy ?
Source: reuters
- Papua New Guinea Landslide Disaster: Prime Minister Marape attributes the disaster to extraordinary rainfall and changing weather patterns, estimating over 2,000 deaths and affecting up to 70,000 people.
- Cost of Natural Disasters: The country has incurred over 500 million kina in losses due to various natural disasters this year before the recent landslide in Enga province.
- Rescue Efforts and Concerns: Rescue operations are underway with assistance from Australia and New Zealand, but concerns about disease outbreaks and further landslides persist.
- Challenges Faced: Slow access to the site due to difficult terrain and tribal unrest, with residents using shovels and bare hands for rescue efforts.
- International Support and Response: Barrick Gold mine operations unaffected, UN warns of potential delays in rescue efforts due to collapsed bridge, and the risk of infectious diseases is highlighted.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
