After strong growth in 2017 and early 2018, global economic activity slowed notably in the second half of last year, reflecting a confluence of factors affecting major economies. China’s growth declined following a combination of needed regulatory tightening to rein in shadow banking and an increase in trade tensions with the United States.

Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroeconomic effects, with adverse consequences concentrated in countries with hot climates, such as most low-income countries.

This how-to note focuses on the management of the fiscal costs associated with natural disaster risks.

Pacific island countries are highly vulnerable to various natural disasters which are destructive, unpredictable and occur frequently. The frequency and scale of these shocks heightens the importance of medium-term economic and fiscal planning to minimize the adverse impact of disasters on economic development.

This working paper presents a dynamic small open economy model to explore the macroeconomic impact of natural disasters. In addition to permanent damages to public and private capital, the disaster causes temporary losses of productivity, inefficiencies during the reconstruction process, and damages to the sovereign's creditworthiness.

The exposure of low-income countries to natural disasters has a significant impact on food production and food security. This paper provides a framework for assessing a country’s vulnerability to food crisis in the event of natural disasters.

In a report published as part of the International Monetary Fund (IMF) Staff Discussion Note (SDN) series, experts examine the role that fiscal polices can play in assisting countries to implement the Paris Agreement adopted at the end of 2015.

This paper examines selected policy issues of importance for achieving individual SDGs, drawing on recent analytical work conducted at the IMF.

This paper examines water challenges, a growing global concern with adverse economic and social consequences, and discusses economic policy instruments. Water subsidies provided through public utilities are estimated at about $456 billion or 0.6 percent of global GDP in 2012.

Natural disasters and climate change are interrelated macro-critical issues affecting all Pacific small states to varying degrees. In addition to their devastating human costs, these

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