31
Jan
Climate change poses a significant threat to global economies, with fragile and developing countries being particularly vulnerable. Recent research shows that these nations experience a disproportionate impact, with cumulative GDP losses of around 4% three years after extreme weather events, compared to 1% in other countries. Specifically, droughts in fragile states annually reduce per-capita GDP growth by 0.2 percentage points, emphasizing the urgent need for action to address the challenges faced by vulnerable countries. The Global Index-Insurance Facility (GIIF) is at the forefront of...