02091cas a2200265 a 4500 AALejournalIMF019428 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498320801 1018-5941 BD-DhAAL BD-DhAAL Nishizawa, Hidetaka. Fiscal Buffers for Natural Disasters in Pacific Island Countries / Hidetaka Nishizawa, Scott Roger, Huan Zhang. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (31 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper estimates the effects of severe natural disasters on fiscal revenues and expenditure in PICs. These are combined with information on the frequency of large disasters to calculate the rate of budgetary savings needed to build appropriate fiscal buffers. Fiscal buffers provide self-insurance against natural disaster shocks and facilitate quick disbursement for recovery and relief efforts, and protection of spending on essential services and infrastructure. The estimates can provide a benchmark for policymakers, and should be adjusted to take into account other sources of financing, as well as budget risks from less severe as well as more frequent disasters. Mode of access: Internet Roger, Scott. Zhang, Huan. IMF Working Papers; Working Paper ; No. 2019/152 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/152/001.2019.issue-152-en.xml IMF e-Library