HTH -- Haiti Earthquake

March 7, 2011. Some 10,000 homes condemned in New Zealand quake; death toll reaches 166

SOURCE: Altegrity Risk International

Prime Minister John Key said on March 7th that some 10,000 in Christchurch could not be rebuilt after the February 22nd magnitude 6.5 earthquake, local media said. Key announced a national memorial day on March 18th with planned events for Christchurch's Hagley Park. The treasury department, meanwhile, said that earthquake recovery work would cost some NZ$15 billion (US$11 billion). The death toll rose to 166, although it is expected to rise to around 200 as rescue work continued throughout the city, including the Christchurch Cathedral. Officials earlier pulled some 90 bodies from the Canterbury TV building. A private building company began emergency repairs to homes in the Christchurch area as part of contributions to earthquake relief. New Zealand's GDP growth is slated to suffer a 1.5 percentage point setback in the 2011 calendar year due to the earthquake. Power is expected to be restored to 99% of dwellings in Christchurch by the end of the day on March 7th.