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Business and Economics > Insurance

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock x
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Cover IMF Staff Country Reports
Grenada: Climate Change Policy Assessment
International Monetary Fund. Fiscal Affairs Dept.
Grenada has made significant strides to counter climate change but meeting the daunting remaining challenges will require domestic policy actions and sustained international support. Climate change is an existential threat to Grenada. Increasing frequency and intensity of coastal storms threatens infrastructure and livelihoods, as do increased risk of coastal flooding and drought. Notably, Hurricane Ivan in 2004 caused damages of over 200 percent of GDP. Grenada has recognized this by placing climate resilience at the center of its policy making and forging strategic alliances with key global climate finance providers. However, the challenges facing the country remain daunting and will require large increases in international support, both financial and technical, to assist the Grenadian authorities turn their impressive resilience plans into action.
Keywords:
ISCR; CR; insurance coverage; private sector; capital budget; real GDP; financial support; excise tax; tax system; carbon tax; Climate change; Natural disasters; Insurance; Greenhouse gas emissions; Public investment and public-private partnerships (PPP); Caribbean; Global
Cover IMF Staff Country Reports
Eastern Caribbean Currency Union: Selected Issues Paper
International Monetary Fund. Western Hemisphere Dept.
This Selected Issues paper presents a quantification of the long-term benefits of ex-ante resilient investment and insurance needs against natural disasters (ND) in Eastern Caribbean Currency Union (ECCU). Cost-benefit analysis of resilient investment based on a dynamic stochastic general equilibrium model tailored to small states and calibrated to all ECCU economies is also discussed in the paper. The model’s aggregate production function illustrates the interaction among the participating sectors and their contribution to output, ultimately informing the role of resilient investment. The study also quantifies government insurance coverage needs and costs using an empirical stochastic model that simulates NDs fiscal costs. The insurance needs are framed within the World Bank insurance layering framework. The results in this paper underscore the importance of a shift from ex-post recovery to a focus on ex-ante resilience building. Ex-ante resilient investment and insurance are key to the welfare and financial sustainability of the ECCU, given high intensity and recurrence of NDs.
Keywords:
ISCR; CR; ECCU country; country authorities; private sector; depreciation rate; resilient investment; ECCU economy; deficit bias; labor migration; debt target; insurance cost; Natural disasters; Public investment spending; Insurance; Caribbean