Panama Institute of Geosciences plans budget doubling following magnitude 7.5 earthquake
What happened
The Institute of Geosciences recorded 746 aftershocks from a magnitude 7.5 earthquake that struck Panama on October 9. Néstor Luque, director of the Institute, stated that aftershocks from an event of this magnitude can last between one and two months. The Institute plans to double its investment budget from $150,000 to $300,000, expand its seismic monitoring network, and build new equipment booths.
From newsroompanama.com
Why it matters
Following the major seismic event, the Institute plans significant capital investment to expand its monitoring capabilities and move toward an early warning system. This increased funding and infrastructure expansion within the University of Panama's constituent unit reflects a response to the national risk profile.
From newsroompanama.com
Who's involved
- instituteOrganizational body that recorded aftershocks and plans budget expansion
- University of PanamaUniversity that houses the Institute of Geosciences
- Nestor LuqueDirector of the Institute of Geosciences
- PanamaSovereign state where the earthquake occurred and the Institute operates
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- instituteSpeculative
The Institute might see increased revenue from the doubling of its investment budget and expansion of its seismic monitoring network.
- University of PanamaSpeculative
The University of Panama could see increased costs related to the infrastructure expansion within a constituent unit.
- PanamaSpeculative
Panama might require public investment due to the major seismic event increasing the national risk profile.
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The entities involved
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institute
organizational body created for a certain purpose
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University of Panama
university in Panama
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