Fiscal Resilience to Natural Disasters by OECD and The World Bank

Author:OECD and The World Bank
Language: eng
Format: epub
Tags: environment/governance
Publisher: OECD Publishing
Published: 2019-05-20T00:00:00+00:00

Estimated annual disaster-related contingent liabilities in Colombia

Estimated contingent liability

Million USD

% GDP

% Budget

Annual expected loss

490

0.2

0.7

100-year probable maximum loss

2 976

1.2

4.4

250-year probable maximum loss

4 417

1.8

6.6

500-year probable maximum loss

5 655

2.3

8.4

Source: Mechler et al., 2016.

In the absence of evidence on actual government expenditures for disaster risk management, the size of the different funding sources and instruments, including the National Disaster Risk Management Fund and the Adaptation Fund, can approximate yearly funding.

With regard to disclosing disaster-related contingent liabilities, the Ministry of Finance and Public Credit currently publishes information on its website about the progress being made to diminish contingent liabilities.

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