|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Australia Announces Economic Package for Drought-Hit Farmers

SYDNEY – Australia will establish a AU$1-billion ($686 million) fund for farmers affected by one of the worst droughts to hit the country in a century, the government said Thursday.

Prime Minister Scott Morrison said in a statement that the money would be distributed through soft loans, which would be interest-free for two years.

“This is money into the pockets of all those farmers and graziers (livestock farmers) who know they have a future, but are currently struggling to keep their operations running as the crippling effects of this drought continue to bite,” Morrison said.

The drought that was declared in August 2018 has especially affected the southeastern state of New South Wales, where agricultural fields have dried up, water reserves have dropped to minuscule levels and livestock and wild animals have died due to thirst.

According to official data, drought has caused economic losses worth AU$5 billion and the loss of 23,000 jobs owing to falling export incomes in Australia, a country vulnerable to extreme temperatures due to climate change.

The federal government also announced the release of 100 gigaliters of water in the Murray River, the largest in Australia that flows 2,500 km (1550 miles).

Murray forms the largest river basin in Australia along with the Darling River, irrigating more than a million square kilometers of land in eastern parts of the country.

The basin has been the center of a national debate about the management of its water and because of the death of more than a million fish due to lack of oxygen.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2019 © All rights reserved