Australia readies as renewed bush fire threat looms, economic costs soar

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Australia readies as renewed bush fire threat looms, economic costs soar
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Australian Prime Minister Scott Morrison to meet with insurance and bank executives to discuss the wildfire crisis

This picture taken on January 6, 2020 shows smouldering trees following bushfires in Nowra in Australia's New South Wales state.

On Tuesday, two men were reported missing in New South Wales. Police did not reveal the identities of the men but said one is a 70-year-old man. "There's going to be a very significant economic impact, but ... we want to get money out into these communities as fast as possible," Treasurer Josh Frydenberg told the Australian Broadcasting Corp ahead of planned meetings between Morrison and financial bosses.

Prime Minister Morrison said he spoke with US President Donald Trump on Tuesday, while British Prime Minister Boris Johnson has also offered support. Australia's military were deployed on Tuesday to help bury an estimated 4,000 dead sheep and cattle, a process authorities want to complete quickly to prevent rotting carcasses from spreading disease.

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