Macro-Fiscal Implications of Climate Change: The Case of Djibouti

November 1, 2018

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Format: Chicago

Alexei P Kireyev. Macro-Fiscal Implications of Climate Change: The Case of Djibouti, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

This paper reviews the significant macro-fiscal challenges posed by climate change in Djibouti and the costs of mitigation and adaptation policies. The paper concludes that Djibouti is susceptible to climate change and related costs are potentially large. Investing now in adaptation and mitigation has large benefits in terms of reducing the related costs in the future. Reforms to generate the fiscal space are therefore needed and investment for mitigation and adaptation to climate change should be built into the long-term fiscal projections. Finally, concerted international efforts and stepping up regional cooperation could help moderate climate-related macro-fiscal risks.

Subject: Climate change, Climate finance, Environment, Fiscal policy, Fiscal space, Natural disasters, Population and demographics, Renewable energy

Keywords: Africa, Climate adaptation investment, Climate change, Climate change challenge, Climate change mitigation, Climate finance, Climate warming, Cost, Djibouti, Fiscal space, GDP, Global, Government, Inclusive growth, Mitigation effort, Natural disasters, Production capacity, Renewable energy, Visions Djibouti, World Bank climate change knowledge portal, WP

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2018/233
Stock No:

WPIEA2018233
ISBN:

9781484380819
ISSN:

1018-5941

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