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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.

2019 Climate Change Policy Assessment that was prepared jointly by the staffs of the IMF and the World Bank. Contents I. INTRODUCTION II. PILLARS OF A DISASTER RESILIENCE STRATEGY III. PROGRESS IN BUILDING RESILIENCE TO CLIMATE CHANGE A. Pillar I: Structural Resilience B. Pillar II: Financial Resilience C. Pillar III: Post Disaster and Social Resilience D. Implications of COVID-19 for DRS IV. MACROECONOMIC AND DEBT SUSTAINABILITY IMPLICATIONS OF BUILDING RESILIENCE TO NATURAL DISASTERS A. DRS direct costs B. Macroeconomic benefits of

International Monetary Fund. Western Hemisphere Dept.

natural disasters. All this requires robust whole-of-society contingency plans that would put the right professionals in charge of the overall responses and planning to “connect the dots.” IV. Macroeconomic and Debt Sustainability Implications of Building Resilience to Natural Disasters A. DRS direct costs 49. The direct cost of making critical progress in upgrading Grenada’s natural disaster resilience is estimated in the range of US$1.3 billion over 15 years, reaching 5½ percent of GDP annually in 2024–35 . The total cost estimates represent only