Archive · 23 Jul 2026
Venezuela quakes cause $19.6 billion in damage
Two big earthquakes happened in Venezuela on June 24.
They were very strong, with magnitudes of 7.2 and 7.5.
These earthquakes caused a lot of damage and killed about 5,000 people.
Many buildings and roads were destroyed, and nearly 17,000 people were hurt.
Almost 18,000 people are now homeless.
The World Bank says the damage is worth $19.6 billion, but fixing everything could cost up to $50 billion.
The earthquakes made things even harder for people in Venezuela, as many were already poor and struggling.
The World Bank and other organizations are working with the Venezuelan government to figure out how to rebuild and help the country recover.
Two earthquakes with magnitudes of 7.2 and 7.5 struck Venezuela on June 24, causing extensive damage and loss of life.
The earthquakes resulted in approximately 5,000 deaths, 17,000 injuries, and 18,000 people left homeless.
The direct physical damage from the earthquakes is estimated at $19.6 billion, with rebuilding costs potentially reaching up to $50 billion.
The damage was distributed as 47% in residential buildings, 27% in infrastructure, and 26% in non-residential buildings.
The World Bank is collaborating with the Venezuelan government and other international organizations to assess and support the country's recovery and reconstruction efforts.
- Who
- The people of Venezuela, the Venezuelan government, the World Bank, the Inter-American Development Bank, and the Development Bank of Latin America (CAF)
- What
- Two earthquakes with magnitudes of 7.2 and 7.5 caused significant damage and loss of life in Venezuela.
- When
- The earthquakes occurred on June 24.
- Where
- The earthquakes affected northern areas of Venezuela, including the capital Caracas.
- Why
- The earthquakes caused extensive damage to residential buildings, infrastructure, and non-residential buildings, exacerbating the country's already precarious socioeconomic conditions.
Government and International Organizations
Critics of Government Response
Rebuilding Costs
Government and International Organizations
The World Bank estimates that rebuilding costs could be twice the initial damage estimate, totaling up to $50 billion, including structural improvements and debris clearance.
Critics of Government Response
Critics argue that the government's current economic policies and lack of transparency may hinder effective use of reconstruction funds.
Economic Impact
Government and International Organizations
The World Bank suggests that additional borrowing for reconstruction could stimulate economic growth and improve fiscal position over time.
Critics of Government Response
Critics contend that increased borrowing will further strain Venezuela's already high debt levels without guaranteeing economic recovery.
- Date of Earthquakes
- June 24
- Magnitude of Earthquakes
- 7.2 and 7.5
- Estimated Damage
- $19.6 billion
- Estimated Rebuilding Cost
- Up to $50 billion
- Number of Deaths
- 5,000
- Number of Injured
- 17,000
- Number of Homeless
- 18,000
- Poverty Rate
- Over 76%
- Number of People Fleeing Since 2015
- 7.9 million