April 11, 2019 / 11:14 AM / 15 days ago

World Bank puts Mozambique's economic losses from Cyclone Idai at up to $773 million

People walk through floodwater near Beira, Mozambique, in the aftermath of Cyclone Idai, March 23, 2019. REUTERS/Mike Hutchings

JOHANNESBURG (Reuters) - The World Bank estimates the direct economic losses from Cyclone Idai in Mozambique to range from $656 million-$773 million, covering damage to buildings, infrastructure and agriculture, a note sent out via the United Nations said on Thursday.

In the note, dated April 4, the World Bank said its approach does not capture indirect losses such as reduced productivity or business interruptions, and could only provide a certain degree of accuracy.

Reporting by Emma Rumney; Editing by Angus MacSwan

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