Natural Disasters: Mitigating Impact, Managing Risks

October 9, 2012

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Format: Chicago

Nicole Laframboise, and Boileau Loko. Natural Disasters: Mitigating Impact, Managing Risks, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews the literature on the macroeconomic impact of natural disasters and presents the IMF’s role in assisting countries coping with natural catastrophes. Focusing on seven country cases, the paper describes the emergency financing, policy support, and technical assistance provided by the Fund to help governments put together a policy response or build a macro framework to lay the foundation for recovery and/or unlock other external financing. The literature and experience suggests there are ways to strengthen policy frameworks to increase resilience to natural disaster shocks, including identifying the risks and probability of natural disasters and integrating them more explicitly into macro frame-works, increasing flexibility within fiscal frameworks, and improving coordination amongst international partners ex post and ex ante.

Subject: Balance of payments, Balance of payments need, Disaster aid, Emergency assistance, Environment, Financial institutions, Foreign aid, Insurance, Natural disasters

Keywords: Balance of payments need, Buffers, Contingent financing, Disaster aid, Disaster risk financing strategy, Economic growth, Emergency assistance, Financing catalyst, Fund emergency financing, Fund financing, Global, IMF financing, IMF program, IMF's financing instrument, Insurance, Natural disasters, Private sector, Self-insurance, WP

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2012/245
Stock No:

WPIEA2012245
ISBN:

9781475512717
ISSN:

1018-5941

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