IMF Estimates Impacts of Disruptive Weather on Growth

The International Monetary Fund (IMF) said typical climate-related natural disasters cut growth by an average 0.4 percentage points in affected countries in the year they occur.

Estimates of impacts were included in an IMF surveillance note ahead of a weekend meeting of G20 finance ministers and central bank governors in Riyadh.

According to the note, released in Washington Wednesday, international cooperation is urgently needed to support climate mitigation and adaptation.

"Disruptive weather events have become more frequent in many parts of the world and will likely continue to impose significant economic costs, it continued.

Between 2015 and 2018, the IMF added, the number of climate-related natural disasters in emerging and low-income economies was sharply higher than in 1990 to 2004.

The human toll of climate change confronts us every day, said IMF managing director Kristalina Georgieva.

These types of events are becoming more frequent, particularly in the poorest countries and those least able to cope with the impact, she said.

Source: Agency Kampuchea Press