Bali Hit by 6.6M Earthquake
An earthquake with a magnitude of 6.6 on the Richter scale rocked Kuta, Bali, in the early hours of Thursday, March 19. The tremor was felt almost across the entire Bali and Lombok with the largest intensity scale reaching IV MMI.
The quake was located under the sea in the Indonesian Ocean, 273 kilometers southwest of South Kuta. It was classified as a shallow quake, but luckily enough, with no tsunami potential.
No detailed information had been published about the right cause. However, Meteorology Climatology and Geophysics Agency (BMKG) warned of possible multiple aftershocks.
Natural disasters push 26m into poverty each year
The World Bank published its findings at the COP22 climate change conference in Marrakech. It said that floods, earthquakes, tsunamis, and other extreme natural disasters push 26 million people into poverty yearly and cost the global economy more than half a trillion dollars in lost consumption.
Countries are enduring a growing number of unexpected shocks as a result of climate change, with poor people often paying the heaviest price. Policies that made countries more resilient to mentioned extreme natural disasters and improved early warning systems could bring benefits of $100bn a year.
The bank’s research showed that previous studies had underestimated the impact of natural disasters because they had measured the cost by assessing damage to physical assets.
“A flood or an earthquake can be disastrous for poor people, but have a negligible impact on a country’s wealth or production if it affects people who own almost nothing and have meager incomes.”