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According to a new IMF report announced Tuesday, it is extremely likely that several of the world’s smallest nations will bear the brunt of climate change, and these countries should do all they can to address the issue of a rising sea level and the increased frequency of violent storms.
However, the IMF report also said that these nations, which generally have the smallest populations and land in the world, are also short of capital to the tune of approximately US$1 billion (around NT$32 billion). The report called on the IMF and the smaller member states to do more to prepare for a warmer world in which natural disasters are to become far more common.
Global news agency AFP reports that Peter Allum, assistant director in the IMF’s Strategy, Policy and Review Department, said during a telephone interview that, unlike nations with larger territories, which will be able to more easily absorb the abrupt changes caused by natural disasters, the entire populations and economies of smaller nations would likely be affected.
According to Allum, Severe Tropical Cyclone Pam last year devastated the South Pacific Ocean nation Vanuatu, which has a population of under 300,000, exposing the country to one of the most serious natural disasters in its history. The country sought emergency financial assistance from the IMF, which approved US$24 million (around NT$768 million) in emergency aid.
As the assistance received by small nations in the recent financial reforms is far less than that received by the larger countries, the IMF is now considering raising limits on access to emergency financial assistance.
Source article: http://www.taipeitimes.com/News/lang/archives/2016/12/19/2003661464