| Description |
1 online resource (26 pages) : illustrations |
| Series |
IMF working paper ; WP/08/44 |
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IMF working paper ; WP/08/44.
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| Contents |
I. Introduction; II. Debt Dynamics and Catastrophic Risk: The Case of Belize; Figures; 1. Bilateral and Multilateral Aid Flows to Belize 1970-2003; III. Instruments for Catastrophic Insurance; IV. Disaster Insurance and Debt Sustainability; Tables; 1. Forecast and Standard Deviations; 2. Probability Distribution and Cost of Hurricanes by Category; 3. Cost of Hurricane Insurance; 2. Debt Sustainability Analysis (DSA): Fan 1; 4. Optimal Insurance; A. Indirect Gains from Disaster Insurance; 5. Wind Storms and Emerging Market Spreads; 3. Debt Sustainability Analysis (DSA): Fan 2 |
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4. Debt Sustainability Analysis (DSA): Fan 3V. The Dark Side of Insurance; VI. Conclusions; References |
| Summary |
Natural disasters are an important source of vulpnerability in the Caribbean region. Despite being one of the more disaster-prone areas of the world, it has one of the lowest levels of insurance coverage. This paper examines the vulnerability of Belize's public finance to the occurrence of hurricanes and the potential impact of insurance instruments in reducing that vulnerability. The paper finds that catastrophic risk insurance significantly improves Belize's debt sustainability. In addition, the methodology employed makes it possible to estimate the appropriate level of insurance, which for the case of Belize is a maximum coverage of US$120 million per year |
| Bibliography |
Includes bibliographical references (pages 24-26) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Hurricanes -- Economic aspects -- Belize -- Econometric models
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Risk (Insurance) -- Belize -- Econometric models
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Debts, Public -- Belize -- Econometric models
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Debts, Public -- Econometric models
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Risk (Insurance) -- Econometric models
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Belize
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| Form |
Electronic book
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| Author |
Cavallo, Eduardo A., author.
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Valenzuela, Patricio, author.
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International Monetary Fund. Research Department.
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| ISBN |
128351303X |
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9781283513036 |
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