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Issue 28
August , 2010
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Pakistan flood homeless toll put at over 4 million

Source: Reuters, Date: August , 2010

More than four million Pakistanis have been made homeless by nearly three weeks of floods, the United Nations said, making the critical task of securing greater amounts of aid more urgent.

The U.N. had earlier said that two million people had lost their homes in the worst floods in Pakistan's history.

Aid agencies have been pushing for more funding as they try to tackle major problems such as food supplies, lack of clean water and shelter and outbreaks of disease.

The economic costs of the floods are expected to run into the billions of dollars, stepping up pressure on Pakistan's government just after it had made progress in stabilising the country through security offensives against Taliban insurgents.

Aninda Mitra, a Moody's Investors Service analyst for Pakistan, doubts the disaster will have short-term implications on sovereign ratings.

"I think even the most conservative donor will clearly understand the human implications of this disaster," he said.

"But in the long term, to what extent the economy can bounce back and recover is going to be quite crucial and that is something we are interested in getting an assessment on."

The Asian Development Bank said it will extend a $2 billion assistance package for emergency rehabilitation and reconstruction work.

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