Disasters resulting from natural hazardsrepresent an important challenge for Colombia’s fiscalsustainability and stability. Colombia is one of thecountries with the highest recurrence rate of disasterscaused by natural hazards in Latin America. As the country’spopulation and economy continue to grow, so will theeconomic losses resulting from such events, an average of600 disaster events are reported each year. Colombia’s rateof economic growth is increasing the base of assets exposedto disaster risks, which may lead to significant increasesin losses, particularly if investments in new assets are notaccompanied by plans for mitigating disaster risk. Thisdocument presents the priority policy objectives that havebeen established to assess, reduce, and manage fiscal riskdue to natural disasters. It also describes the MHCP’sefforts to progress its policy objectives in the long term.These policy objectives represent the MHCP’s ex-ante policyframework regarding management of financial and fiscaldisaster risk.
PDF
download
878987797
028-85220240
