One -Year After Chile’s Devastating 8.

8 Magnitude Earthquake

On February 27, 2010 a 8.8 magnitude earthquake shook Chile leaving it in ruins:  524 dead,
800,0000 homeless, 370,000 houses ruined, 4,500 schools destroyed and $30 billion in
damages. The earthquake is considered the fifth largest in history and increased the country’s
poverty rate by 3 percent.

One year later the rebuilding continues, with official government statements saying 50% of the
rebuild is done whereby 940 miles of roads were repaired and 200 bridges rebuilt.  There are
many complaints especially from the poorer sectors of the country that the rebuilding is taking
too long.  Regardless of the time frame, the Chilean economy has emerged unscathed with its
wood pulp and wine making industries back on their feet.  Its key industry cooper production is
expected to grow 6% this year.

Nonetheless, Chile remains very weary of another earthquake, this past year alone the country
had 20 quakes with a magnitude of 6 or higher and 4,000 temblors.  Just in this past week the
country felt 5 earthquakes along its coast line.  And then of course their is the inspirational and
incredible story of the 33 Chilean miners that riveted the world and served as a symbol of what
Chile can do in a time of crisis.