Pakistan said Wednesday that the World Bank estimates this summer's record-breaking floods have caused $40 billion in damages in this impoverished South Asian nation. The figure is $10 billion more than an earlier estimate by the Pakistani government.
Cash-strapped Pakistan was already facing a serious financial crisis before the heavy monsoon rains hit in mid-June. The rains triggered unprecedented floods that at one point left a third of the country's territory submerged, forcing hundreds of thousands of people to move to safer places.
