Natural Disasters: Mitigating Impact, Managing Risks

Nicole Laframboise and Boileau Loko

No 2012/245, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; IMF financing; disaster risk financing strategy; fund emergency financing; IMF's financing instrument; contingent financing; financing catalyst; fund financing; IMF program; natural disasters; economic growth; self-insurance; buffers; private sector; Balance of payments need; Disaster aid; Emergency assistance; Insurance; Global (search for similar items in EconPapers)
Pages: 32
Date: 2012-10-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=40044 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2012/245

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().