On April 29, 2024, heavy rains began to pour over Brazil’s southernmost state, Rio Grande do Sul, rapidly submerging major parts of the state in devastating floods.
As of Monday, May 13, 2024, as many as 500,000 Brazilians have been displaced from their homes as a consequence of the climate disaster, with at least 143 persons dead and 125 missing.
CNN estimates that upward of 1.9 million Brazilians have been affected by the floods.
The floods have also had massive economic impacts, adding to the stress and calamity of the situation.
According to Bloomberg, Enki Research estimates the economic impact to be at least $2.5 billion in the state.
Core infrastructure has been shattered, and the state’s agricultural products and exports have been significantly impacted.
Food and storage facilities have been destroyed in the floods, and shipping routes have been severely obstructed. According to Safety4Sea, the prominent Rio Grande port, a central hub for soybean export, has been significantly slowed.
Agriculture is responsible for 6.8% of Brazil’s GDP.
On Thursday, May 9, Brazil’s Finance Minister Fernando Haddad announced the rollout of a $9.9 billion plan to help the victims of the flood.
“This money will not be taken from other regions of the country,” Haddad said according to BNN Bloomberg. “It is the federal government that is contributing these resources to Rio Grande do Sul without harming the programs that serve other regions of Brazil.”
