Caribbean budgets need disaster insurance

The natural-disaster-prone economies of the Caribbean need insurance to reduce the vulnerability of their public finances and improve debt sustainability, a new IMF working paper says.

The paper also estimates the appropriate level of insurance. In the case of Belize, which the study focuses on, a maximum coverage of $120-mn per year is found to be optimal.

"International institutions such as the World Bank and the Inter-American Development Bank can play a role in assisting countries to

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