Preparing finance for a crisis: crisis lookout options paper
This paper outlines what would be required to establish a ‘crisis lookout’ function, to provide financial decision makers with timely risk information.
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Following the G7 Foreign and Development Ministers Communique in May 2021, the Foreign, Commonwealth & Development Office (FCDO) has prepared this paper to help countries improve their disaster and financial risk forecasting.
A new ‘crisis lookout’ function could play an important role in understanding and comparing the potential financial cost of crises. It could also help to prioritise, support and incentivise countries to manage crises through better financial planning. This paper aims to identify the main decision points for how this would work in practice and proposes possible next steps.