Pakistan floods: Disaster to cost more than $10bn, minister says

Pakistan’s planning minister says early estimates show the devastating floods that hit the country have caused at least $10bn (£8.5bn) of damage.

His comment comes as another government minister said that one-third of the South Asian nation has been submerged.

Separately on Monday, Pakistan received a $1.1bn bailout from the International Monetary Fund (IMF).

That money is aimed to help the cash-strapped economy avoid defaulting on its debts.

The flash floods, caused by record monsoon rains, have killed at least 1,136 people and affected more than 33 million, over 15% of the country’s population.

The torrential rains have also washed away roads, crops, homes, bridges and other infrastructure.

Iqbal said the country would face serious food shortages in the coming weeks and months and believed that the floods were worse than those that hit Pakistan in 2010, the deadliest in the country’s history which left more than 2,000 people dead.