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International Monetary Fund

, and the export of other services has expanded. After growing by an average 3 percent a year in 1998-99, output stagnated in 2000, and fell by an estimated 5¼ percent in 2001. This reflected a severe drought in 2001, as well as lower tourism activity owing to the global economic slowdown and the terrorist attacks of September 2001. The unemployment rate increased to about 19 percent in 2001, from 16½ percent in 2000. In 2002, no growth is expected as tourism was weak and tropical storm damage prevented a stronger recovery in banana production. Inflation has

International Monetary Fund
This 2002 Article IV Consultation highlights that after growing by an average 3 percent a year in 1998–99, output for St. Lucia stagnated in 2000, and fell by an estimated 5¼ percent in 2001. This reflected a severe drought in 2001, as well as lower tourism activity owing to the global economic slowdown and terrorist attacks of September 2001. In 2002, no growth is expected as tourism was weak, and tropical storm damage prevented a stronger recovery in banana production.
International Monetary Fund

of September 2001. The unemployment rate increased to about 19 percent in 2001, from 16½ percent in 2000. In 2002, tourism was weak and tropical storm damage prevented a stronger recovery in banana production. 2 Inflation has remained in the low single digits, and the price level remained broadly unchanged in August 2002 relative to August 2001. Table 1. St. Lucia: Selected Economic and Financial Indicators Prel. Projections 1998 1999 2000 2001 2002 2003 (Annual percentage changes, unless otherwise

Mr. Sebastian Acevedo Mejia
This paper studies the economic costs of hurricanes in the Caribbean by constructing a novel dataset that combines a detailed record of tropical cyclones’ characteristics with reported damages. I estimate the relation between hurricane wind speeds and damages in the Caribbean; finding that the elasticity of damages to GDP ratio with respect to maximum wind speeds is three in the case of landfalls. The data show that hurricane damages are considerably underreported, particularly in the 1950s and 1960s, with average damages potentially being three times as large as the reported average of 1.6 percent of GDP per year. I document and show that hurricanes that do not make landfall also have considerable negative impacts on the Caribbean economies. Finally, I estimate that the average annual hurricane damages in the Caribbean will increase between 22 and 77 percent by the year 2100, in a global warming scenario of high CO2 concentrations and high global temperatures.
Sebastian Acevedo and Mr. Trevor Serge Coleridge Alleyne

This paper studies the economic costs of hurricanes in the Caribbean by constructing a novel dataset that combines a detailed record of tropical cyclones’ characteristics with reported damages. I estimate the relation between hurricane wind speeds and damages in the Caribbean; finding that the elasticity of damages to GDP ratio with respect to maximum wind speeds is three in the case of landfalls. The data show that hurricane damages are considerably underreported, particularly in the 1950s and 1960s, with average damages potentially being three times as large as the reported average of 1.6 percent of GDP per year. I document and show that hurricanes that do not make landfall also have considerable negative impacts on the Caribbean economies. Finally, I estimate that the average annual hurricane damages in the Caribbean will increase between 22 and 77 percent by the year 2100, in a global warming scenario of high CO2 concentrations and high global temperatures.

International Monetary Fund

This 2002 Article IV Consultation highlights that after growing by an average 3 percent a year in 1998–99, output for St. Lucia stagnated in 2000, and fell by an estimated 5¼ percent in 2001. This reflected a severe drought in 2001, as well as lower tourism activity owing to the global economic slowdown and terrorist attacks of September 2001. In 2002, no growth is expected as tourism was weak, and tropical storm damage prevented a stronger recovery in banana production.

International Monetary Fund

The Executive Board of the International Monetary Fund (IMF) approved today SDR 4.7 million (about US$6.9 million) in financing under emergency assistance for natural disasters to support the nation’s recovery from the economic after-affects of serious storm damage and flooding in 2008. Belize sustained considerable damage from flooding, which is estimated to have caused overall direct and economic losses of about US$66 million, or 4.8 percent of Belize’s gross domestic product. The balance of payments impact is estimated at about US$46 million. IMF

International Monetary Fund. Fiscal Affairs Dept.

reflect the different geography, geology, climate and topographical characteristics of Slovakia. Table A3. Slovakia: Maintenance Requirements for Different Types of Infrastructure Infrastructure type Maintenance budget (a) Key assumptions Replacement or major rehabilitation (b) Roads and storm water 5–10 percent Mostly emergency repairs, storm damage and periodic maintenance. (Resurfacing every 7 – 10 years 20 – 30 years Public buildings 4 – 6 percent Mostly for emergency repairs, storm damage, and periodic maintenance