Intense rainfall in northeast Argentina and neighbouring areas in Mercosur members has caused devastating floods, amplifying the economic burdens of Argentina's recession. Over 5,000 people have evacuated the region, and millions of hectares of crops have been sent underwater.
Floods have killed nine people and driven tens of thousands of people from their homes while swelling rivers to record levels in southern Brazil and neighboring Paraguay and Argentina, authorities said Tuesday.
Terrible Thursday for the city of Buenos Aires: toxic gas scare in the morning with almost panic situations and flooding mid afternoon by the same rains that helped clear the cloud hovering over residents with sore throats and irritated eyes.
By Lord Julian Hunt and Professor Johnny Chan.(*) - The devastation wrought by super-storm Sandy (253 deaths in the Americas and over 50 billion dollars in economic damage and disruption), is prompting renewed thinking about climate change and national security.
South America’s crop prospects deteriorated because of excessive rainfall in Argentina and dry conditions in central Brazil, according to Oil World. Argentina’s estimated 55/56 million tons soybean crop could drop anywhere from 3 6o 6 million tons because of delays in sowing caused by torrential rains and flooding.
The US stock market slowly returned to life on Wednesday after two days in the dark, in the wake of the massive storm Sandy that caused the market's first weather-related two-day closure since the late 19th century.
Intense heavy showers and winds hit Buenos Aires City and the province of Buenos Aires leaving two dead and several injured at Greater Buenos Aires, while thousands were evacuated due to the floods and power outages in many neighbourhoods.
Chilean Minister of Economy Pablo Longueira announced on Sunday that Punta Arenas in the extreme south of the country which recently suffered a barrage of flash floods will be declared “catastrophe zone”.
Sunday rains and flash floods in Punta Arenas, extreme south of Chile have left an estimated 800 people homeless forcing the city to close schools while the local chapter of the National Emergency office, Onemi, raised the alarm level from orange (moderate) to red (maximum).
Floods in Australia have dragged business conditions particularly in Queensland to depths not seen since the global financial crisis, according to a local analysis that offered a more pessimistic view than the government’s assessments.