Natural disasters cost about US$18 billion a year in emerging markets and developing economies through damage to power generation and transport infrastructure alone.
Burkina Faso, a landlocked country in the heart of the Sahel region, was already facing difficult challenges when the COVID-19 outbreak occurred.
Shocks--no matter their cause--are inevitable. We all know that.
While the world was focusing on battling the COVID-19 pandemic, the small Pacific island countries of Fiji, the Solomon Islands, Tonga, and Vanuatu were hit by Tropical C
Simply put, we save money as a precaution because we do not know what the future holds.
COVID-19 has halted the world as we know it. Unfortunately, natural disasters and climate shocks will not stop in its wake.
We are in the midst of an unprecedented crisis. To date, more than 435,000 people have tragically lost their lives as a result of COVID-19.