The $10 Billion Twin Earthquakes: Venezuela Braces for a Historic Economic Blow

TOPSHOT - Rescuers search for victims in a collapsed building following an earthquake in Caracas on June 24, 2026. Two earthquakes of magnitude 7.2 and 7.5 struck the same area of Venezuela on the evening of June 24, causing buildings to collapse, according to the United States Geological Survey (USGS) and AFP journalists. The quakes drove residents of the capital, Caracas, into the streets. (Credit: Photo by Manaure Quintero / AFP via Getty Images)

Venezuela's twin earthquakes may leave behind one of the costliest natural disasters in the country's history, with U.S. earthquake experts warning that the economic impact could reach as much as 7% of the nation's gross domestic product (GDP) as authorities race to assess the full extent of the devastation.

A new assessment from the U.S. Geological Survey's Prompt Assessment of Global Earthquakes for Response (PAGER) issued its highest Red Alert not only for potential fatalities but also for economic losses, indicating widespread destruction and a disaster likely to require both national and international assistance.