Colombia : Policy Strategy for Public Financial Management of Natural Disaster Risk
Disasters resulting from natural hazards represent an important challenge for Colombia’s fiscal sustainability and stability. Colombia is one of the countries with the highest recurrence rate of disasters caused by natural hazards in Latin America....
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24794195/colombia-policy-strategy-public-financial-management-natural-disaster-risk http://hdl.handle.net/10986/22414 |
| Summary: | Disasters resulting from natural hazards
represent an important challenge for Colombia’s fiscal
sustainability and stability. Colombia is one of the
countries with the highest recurrence rate of disasters
caused by natural hazards in Latin America. As the country’s
population and economy continue to grow, so will the
economic losses resulting from such events, an average of
600 disaster events are reported each year. Colombia’s rate
of economic growth is increasing the base of assets exposed
to disaster risks, which may lead to significant increases
in losses, particularly if investments in new assets are not
accompanied by plans for mitigating disaster risk. This
document presents the priority policy objectives that have
been established to assess, reduce, and manage fiscal risk
due to natural disasters. It also describes the MHCP’s
efforts to progress its policy objectives in the long term.
These policy objectives represent the MHCP’s ex-ante policy
framework regarding management of financial and fiscal
disaster risk. |
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