Strategic Framework for the Financial Management of Disaster Risk

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dc.creatorWorld Bank Group
dc.date2015-04-08T20:26:36Z
dc.date2015-04-08T20:26:36Z
dc.date2015-01-01
dc.date.accessioned2026-07-01T00:50:15Z
dc.descriptionDisasters associated with the impact of natural hazards have had adverse social and fiscal effects on Panama over time, and the Government of Panama (GoP) is therefore committed to strengthening the financial management of disaster risks. Actions taken by the GoP in financial management of disaster risk are consistent with law 34 of June 5, 2008, the law on social fiscal responsibility. This law aims to establish norms, principles, and methodologies for consolidating fiscal discipline in national financial management of the public sector, a necessary condition for continuous and sustainable economic growth. The strategic framework was developed with the support of regional and international entities. The document incorporates a number of important lessons learned from international experience: (i) include disaster risks as part of an integrated framework of fiscal risk management; (ii) ensure that governments have access to immediate funds following a disaster; (iii) consider the creation of a national disaster fund; and (iv) reduce the government's contingent liabilities against disasters associated with the impact of natural hazards by insuring critical public assets and promoting the private insurance market for catastrophic risks and agricultural insurance. The strategic framework has the following five strategic pillars: (i) identification, quantification, and understanding of fiscal risk due to disasters; (ii) incorporation of disaster risk analysis in the planning of public investment; (iii) formulation of components for developing and implementing risk retention and transfer instruments; (iv) development of the domestic insurance market; and (v) strengthening of the state directorate of investment, concessions, and risks (DICRE) so it can fulfill its role in designing and implementing financial protection strategies.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2015/01/24156659/panama-strategic-framework-financial-management-disaster-risk
dc.identifierhttps://hdl.handle.net/10986/21705
dc.identifierhttps://doi.org/10.1596/21705
dc.identifier.urihttp://hdl.handle.net/123456789/411745
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGRICULTURAL INSURANCE
dc.subjectBONDS
dc.subjectCATASTROPHIC INSURANCE
dc.subjectCLIMATE CHANGE
dc.subjectCOINSURANCE
dc.subjectCONSUMERS
dc.subjectCONTINGENT LIABILITIES
dc.subjectCOVERAGE
dc.subjectCREDIT FACILITIES
dc.subjectDISASTER
dc.subjectDISASTER REDUCTION
dc.subjectDISASTER RISK
dc.subjectDISASTER RISK REDUCTION
dc.subjectDISASTER RISKS
dc.subjectDISASTER SITUATIONS
dc.subjectDISASTERS
dc.subjectDROUGHT
dc.subjectDROUGHTS
dc.subjectEARTHQUAKE
dc.subjectEARTHQUAKES
dc.subjectEMERGENCY PLAN
dc.subjectEXISTING CONDITIONS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL RISK
dc.subjectFLOODS
dc.subjectFOREST FIRES
dc.subjectHAILSTORMS
dc.subjectHEAVY RAINFALL
dc.subjectHURRICANE
dc.subjectINFORMATION SYSTEMS
dc.subjectINSURABLE RISKS
dc.subjectINSURANCE
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCE RISK
dc.subjectLANDSLIDE
dc.subjectLANDSLIDES
dc.subjectMICROINSURANCE
dc.subjectMITIGATION
dc.subjectNATIONAL EMERGENCY
dc.subjectNATURAL DISASTERS
dc.subjectNATURAL HAZARDS
dc.subjectPROGRAMS
dc.subjectRECONSTRUCTION
dc.subjectREINSURANCE
dc.subjectREINSURANCE MARKETS
dc.subjectRELIEF
dc.subjectRESIDUAL RISK
dc.subjectRISK ANALYSIS
dc.subjectRISK ASSESSMENT
dc.subjectRISK INSURANCE
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT SYSTEM
dc.subjectRISK TRANSFER
dc.subjectSAVINGS
dc.subjectSOCIAL DEVELOPMENT
dc.subjectSOCIAL INCLUSION
dc.subjectSOLVENCY
dc.subjectSTORMS
dc.subjectSUSTAINABILITY
dc.subjectTSUNAMI
dc.subjectTSUNAMIS
dc.titleStrategic Framework for the Financial Management of Disaster Risk
dc.titlePanama
dc.typeReport
dc.typeRapport
dc.typeInforme

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