Americas: Unnatural disaster

Author: | Published: 27 Mar 2017

The Latin American and Caribbean (LAC) region is at the centre of a perfect storm. Despite three of the top ten most expensive natural disasters since the 1980s occurring there according to German insurer MunichRe, many countries there have little to no disaster risk financing mechanisms to support recovery and rebuilding efforts after a catastrophic event.

The repair effort will often put a huge financial strain on developing governments' balance sheets, and one they can't afford. While Hurricane Katrina in 2005 is believed to have caused damage of between $100 and $200 billion, the...