ST. GEORGE’S, Grenada, Thurs. Sept. 30: Grenada’s overall damages from Hurricane Ivan is EC$2.2 billion (US$371,057,506.69) or twice the current value of Spice Island’s GDP. That’s according to officials of the secretariat of the Organization of Eastern Caribbean States, which recently undertook an assessment of the social and economic losses of Hurricane Ivan on the economy of Grenada. The ten-person team, led by Director General, Dr. Len Ishmael, found that 90 of homes were destroyed. Significant damages were also sustained to the tourism sector, to a tune of EC$288 million, stated the report, while damages to education was EC$196 million; telecommunications, EC$126 million and agriculture, $97 million. Eco-tourism sites and attractions and cultural heritage sites suffered extensive damage, OECS officials said while job losses in the sector are expected to be over 60 percent. Cocoa and nutmeg – two main traditional crops with long period of gestation - will not be expected to contribute to agricultural performance for many years, stated the report. Meanwhile, OECS researchers said no growth can be expected in the economy until 2006 as revitalization – particularly in tourism, gets underway. “What this translates into, is a scenario in which the social consequences of Hurricane Ivan will be among the most traumatic for quite sometime to come,” stated the report, which has reportedly been sent to all of the major development partners operating in Europe, the USA and the Caribbean region. The report is also slated to be presented at a special meeting of the donor community, convened by the World Bank on October 4, in an effort to secure the finances needed to rebuild the Grenadian economy and society. SOURCE: HARDBEATNEWS.COM