A three-year-old child has been pulled alive from the rubble of a collapsed building in Venezuela, six days after a devastating earthquake struck the country’s northern region. The rescue offers a rare glimmer of hope amid mounting casualties, now estimated to exceed 2,000. British search-and-rescue teams remain on standby, awaiting official requests for assistance from Caracas.
The child, whose name has not been released, was found trapped beneath concrete slabs in the town of Cumaná, near the epicentre. Rescuers worked for hours to extricate the child, who was dehydrated but conscious. This is a remarkable story, but let’s not kid ourselves about the scale of the disaster.
The Venezuelan economy is already in tatters, with hyperinflation rendering the bolívar nearly worthless. The government, led by Nicolás Maduro, has been notoriously inept at managing crises, preferring to blame the United States for its woes. International aid has been slow to arrive, partly due to US sanctions and partly due to Maduro’s distrust of foreign involvement.
The British teams, part of the International Search and Rescue (ISAR) network, have been on standby since Tuesday. They are equipped with cutting-edge technology, including search cameras and acoustic listening devices, but they cannot deploy without a formal invitation. The UK Foreign Office has stated that it stands ready to help, but the ball is in Maduro’s court.
One cannot help but wonder if the delay is political. Maduro has previously accused foreign teams of being spies. Meanwhile, the aftershocks continue, and the death toll is likely to rise.
The financial cost of this disaster will be immense. Venezuela is already defaulting on its debt, and GDP has contracted by over 60% since 2013. Reconstruction will require billions, money the country doesn’t have.
International lenders are unlikely to step in without significant reforms. The rescue of this child is a human triumph, but it cannot mask the broader tragedy of a nation crumbling under its own mismanagement. The bottom line?
Hope is scarce, but it is not absent. The markets will watch for any signs of political opening, but do not hold your breath.
