World Bank estimates $19.6 billion in damage after Venezuela earthquakes

The calculation, which was published on Thursday, shows the urgent need for economic interventions to prevent the already economically devastated country from falling into further misery.

The World Bank is also downplaying the extent of the damage - in a previous UN report, the damage was estimated at $37 billion, while the World Bank estimates it at $19.6 billion - equivalent to around 190 billion kronor. The calculation only applies to damage to buildings and infrastructure.

So far, 5,398 deaths have been confirmed after the two quakes on June 24. More than 16,700 people were injured.