Economics
Typhoon Rebuild in Philippines Hits $8.2 Billion: Southeast Asia
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U.S. Secretary of State John Kerry pledged $25 million in additional aid to the Philippines as the mounting cost of reconstruction in typhoon-damaged areas threatens the Southeast Asian nation’s budget-deficit goal.
“This is devastation unlike any I’ve seen,” Kerry said yesterday on a visit to Tacloban, the city hardest hit by Super Typhoon Haiyan in the Visayas group of islands. The Philippine economic planning agency yesterday said it estimates the cost of reconstruction at 361 billion pesos ($8.2 billion).