Initial forecasts suggest damage could cost as much as 7 percent of the South American nation's GDP.

As pledges of aid pour in from around the world, acting President Delcy Rodríguez has declared a state of emergency.

The USGS warns the death toll could range between 10,000 and 100,000

The agency issued a red alert on its Pager system, estimating a high likelihood of significant fatalities and infrastructural losses.

US Geological Survey estimates 44 per cent chance fatalities could exceed 10,000