- Analytics
- News and Tools
- Market News
- New Zealand PM Hipkins announces emergency funding to aid cyclone recovery efforts
New Zealand PM Hipkins announces emergency funding to aid cyclone recovery efforts
New Zealand Prime Minister (PM) Chris Hipkins on Monday called cyclone Gabrielle New Zealand's biggest natural disaster this century at a news conference announcing an emergency NZ$300 million ($187.08 million) cyclone relief package.
PM Hipkins said: "The required investment to reconnect our communities and future-proof our nation's infrastructure is going to be significant and it will require hard decisions.”
Earlier on, the country’s Finance Minister Grant Robertson said the total cost to the government could be similar to the NZ$13.5 billion (USD8.42 billion) it spent rebuilding Christchurch after the devastating 2011 earthquake, per Reuters.
Market reaction
At the time of writing, the NZD/USD pair is trading flat at 0.6242, having recovered from lows of 0.6227.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
