58 Missing After Category 5 Hurricane Otis Hits Acapulco, Mexico Unveils $3.4 Billion Recovery Plan Amid Criticisms

Hurricane Otis leaves 58 missing, including 18 foreign nationals, as rescue efforts continue; it has also left nearly 600,000 people homeless, and caused damages estimated at $15 billion, including the destruction of 377 hotels, raising questions about the sufficiency of the government's $3.4 billion recovery plan.

Hurricane Otis, the strongest on record to hit Mexico's Pacific Coast with winds up to 165 mph, has left 58 people missing, contributing to billions in damage, including the destruction of 377 hotels, leaving nearly 600,000 people homeless.
Among the missing are 18 foreign nationals, including 11 Americans, with the majority being local fishermen and boat crews who were at sea when the hurricane hit.
Mexican President Andrés Manuel López Obrador has announced a $3.4 billion reconstruction plan, which includes supplying 250,000 packages of household appliances and food to local families and financial aid ranging from $2,000 to $3000 per damaged home.
Hurricane Otis exposed flaws in urban planning in Acapulco, with poor urban planning in coastal areas intensifying the disaster; only 7% of properties were insured, leaving the state to bear the brunt of the disaster costs.
The Mexican government has offered to assume half of the interest rates on bank loans to help rebuild the heavily damaged or destroyed hotels but will not provide government loans; recovery is expected to be slow due to the extent of damage and the lack of cash flow for these businesses.