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Climate Change, a risk for Fijian Economy

(2017-05-16)Climate change, natural disasters and the withdrawal by global banks of correspondent banking relationships remain an important risk to the small states and Pacific island countries, including Fiji. The
International Monetary Fund, in its May Asia Pacific Economic Outlook states that environmental shocks such as cyclones, droughts, and El Ni?o effects have been larger and more frequent in recent years.

For example, it adds that in each of the past three years, at least one country in the region has been hit by a severe cyclone.

The fund says these cyclones, as well as the 2015 earthquake in Nepal, show that natural disasters can severely disrupt economic activity in those economies.

Source:FBC
Date:May 16,2017