Natural disasters strike rich coun-tries as well as needy ones, but the trail of devastation they leave behind is usually far greater in poor places. Worse, insurance payouts cover a much larger chunk of the costs of recovery in rich countries than in poor ones, where few individuals or companies take out disaster cover. Most of the burden of financing reconstruction falls on foreign governments and multilateral agencies. It will be no different in Haiti after the earthquake that struck this month.
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