Small States' Resilience to Natural Disasters and Climate Change

Small States' Resilience to Natural Disasters and Climate Change - Role for the IMF

November 7, 2016

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Small States' Resilience to Natural Disasters and Climate Change - Role for the IMF, (USA: International Monetary Fund, 0) accessed September 18, 2024

Summary

Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP—more than four times that for larger countries. This reflects a higher frequency of disasters, adjusted for land area, as well as greater vulnerability to severe disasters. About 9 percent of disasters in small states involve damage of more than 30 percent of GDP, compared to less than 1 percent for larger states. Greater exposure to disasters has important macroeconomic effects on small states, resulting in lower investment, lower GDP per capita, higher poverty, and a more volatile revenue base. Read more

Subject: Climatic changes, Debt sustainability, Developing countries, Emergency assistance, External shocks, Financial sector, Fiscal policy, Fund role, Monetary policy, Small states

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