Venezuela’s earthquake leaves production intact as government pushes debt restructuring and reconstruction

On June 24, two powerful quakes of magnitude 7.2 and 7.5 struck northern Venezuela, killing more than 4,500 people, injuring around 16,740 and leaving roughly 18,000 residents homeless. The government estimates that about 25,000 homes will be needed to replace the destroyed housing stock.

Vice President for the Economy, Calixto Ortega, said the country’s productive apparatus, especially the oil sector, remained resilient. Oil output continues at roughly 1.2 million barrels per day, and officials claim the broader industrial base is operating normally.

Venezuela confirmed it will keep pursuing the orderly restructuring of its external debt—over $170 billion—incorporating the earthquake’s economic impact. Ortega and President‑in‑waiting Delcy Rodríguez said negotiations with the IMF, World Bank and other creditors are ongoing and that debt relief is essential for financing reconstruction.

Humanitarian response includes camps that have already treated more than 300 victims with free medical care, psychological support, and plans for a second camp. The government reports controlled landfills and a crushing plant that can process 200 tonnes of rubble per hour, handling roughly 1.2 million tonnes of debris.

Solidarity efforts have been highlighted by volunteers, local artists, and international aid, while some Venezuelan influencers have faced criticism for exploiting the tragedy for online fame. President Nicolás Maduro, currently detained in the United States, issued a message thanking foreign governments for their assistance.