Belize: Climate Change Policy Assessment

November 16, 2018

Preview Citation

Format: Chicago

Belize: Climate Change Policy Assessment, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Summary

Belize is exceptionally vulnerable to natural disasters and climate change. It already faces hurricanes, flooding, sea level rise, coastal erosion, coral bleaching, and droughts, with impacts likely to intensify given expected increases in weather volatility and sea temperature. Hence, planning for resilience-building, and engagement with development partners on environmental reforms, have been central to Belizean policymaking for many years, since well before Belize submitted its Nationally Determined Contribution (NDC) to the Paris Accord in 2015. This Climate Change Policy Assessment (CCPA) takes stock of Belize’s plans to manage its climate response, from the perspective of their macroeconomic and fiscal implications. The CCPA is a joint initiative by the IMF and World Bank to assist small states to understand and manage the expected economic impact of climate change, while safeguarding long-run fiscal and external sustainability. It explores the possible impact of climate change and natural disasters on the macroeconomy and the cost of Belize’s planned response. It suggests macroeconomically relevant reforms that could strengthen the likelihood of success of the national strategy and identifies policy gaps and resource needs.

Subject: Climate change, Environment, Expenditure, Greenhouse gas emissions, Natural disasters, Public investment and public-private partnerships (PPP), Public investment spending

Keywords: Budget system, Capital budget, Capital expenditure, Caribbean, Central America, Climate change, Climate change, CR, Financial support, Global, Greenhouse gas emissions, Insurance coverage, International community, ISCR, Mitigation strategy, Natural disasters, Public investment and public-private partnerships (PPP), Public investment spending, Renewable energy, Risk pooling, Waste management

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/329
Stock No:

1BLZEA2018003
ISBN:

9781484385517
ISSN:

1934-7685

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