Latin American and Caribbean countries face serious socioeconomic crises resulting from severe droughts and hydro-meteorological events such as heavy rains.
The increased frequency and intensity of these extreme weather events may jeopardize these nations' fiscal balance - the difference between revenue collection and public spending.
Thus, they may have difficulties taking new loans to help manage the consequences of future natural disasters, assesses Graham Watkins, head of the climate change division at the Inter-American Development Bank (IDB).
"We are facing a dire situation. The data indicate that the number of natural disasters in the region has tripled compared to . . .
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