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International Monetary Fund. Western Hemisphere Dept.
Natural disasters and climate change are existential threats to Grenada, with annual losses from these events estimated at 1.7 percent of GDP. Grenada has proactively pursued resilience-building, with its Climate Change Policy and National Adaptation Plan providing detailed roadmaps for policymakers. However, the challenges are increasing, including from slow-moving effects owing to the rising sea level, even as implementation capacity and resource constraints remain significant impediments. The COVID-19 pandemic has amplified those challenges by increasing risks and tightening Grenada’s fiscal space.
International Monetary Fund. Western Hemisphere Dept.

also mainstreamed disaster preparedness within its 2020–35 National Sustainable Development Plan. The first round of consultations on the DRS between the IMF and Grenada stakeholders was conducted through a virtual mission in March 2020. DRS coverage and costs . The direct cost of making rapid and critical progress in building resilience to natural disasters is estimated to amount to around US$1.3 billion over 15 years, averaging on an annual basis of around 5½ percent of GDP. A predominant share of this cost will go towards building structural resilience (Pillar 1