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Natural Disasters: Mitigating Impact, Managing Risks
Author:
Ms. Nicole Laframboise
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Mr. Boileau Loko null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2012: Issue 245
Language:
English
Publication Date:
09 Oct 2012
DOI:
https://doi.org/10.5089/9781475512717.001
ISBN:
9781475512717
ISSN:
1018-5941
Pages:
32
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
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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.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund