Floods, droughts reduce Ghana’s GDP by 15.23% – World Bank Group estimates

Floods, droughts reduce Ghana’s GDP by 15.23% – World Bank Group estimates

The World Bank Group in collaboration with the National Disaster Management Organisation (NADMO), National Development Planning Commission (NDPC) and other main stakeholders held a stakeholders consultation workshop in the direction of the event of a national social safety shock response technique to present the significance of shock response methods in Ghana.

According to them, Ghana is rated “high” (the best degree on a four-point scale) for a number of climate-related shocks, together with excessive warmth; water shortage; and concrete, river and coastal flooding.  

These have been accounted to be among the main threat components within the country.

Estimates by the United Nations Office for Disaster Risk Reduction and CIMA Research Foundation indicated that, on common, floods in Ghana adversely have an effect on 45,000 people yearly accounting for 0.16 per cent of the country’s population, thus, decreasing annual national Gross Domestic Product (GDP) by 0.23 per cent.

Also on common, drought within the country adversely impacts 3.5 million people yearly indicating 13 per cent of the population and reduces annual inflation by 15 per cent.

The gathered impact of both flood and drought is a 15.23 per cent discount in GDP and impacts some 3,545,000 people yearly representing some 13.16 per cent of the population.

The workshop centered on inspecting; the spatial distribution of drought and flood threat in Ghana, the affiliation between the distribution of those dangers and the distribution of the country’s population and poverty ranges throughout districts to decide which area requires what social security plan, and eventually the affiliation between the distribution of the chance and the distribution of social security net packages participation ranges throughout districts within the country.

The World Bank Group additionally found that both drought and flood dangers are decided as growing capabilities of “hazard” and “vulnerability” and reducing capabilities of “capacity”.

That is, as “hazard” and “vulnerability” rise, floods and drought additionally rise likewise a fall in “capacity” leads to a fall in both floods and drought. 

Hazard, in accordance to them, is the likelihood of prevalence of a climatic shock, vulnerability is the potential impression of climatic shock as decided by land use and population density, and capability is the institutional and organisational energy to reply to the shock.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or policy of Multimedia Group Limited.

Credit: myjoyonline

Related Posts

Ghana would and should accumulate more dollars as international reserves – Bawumia

Ghana would and should accumulate more dollars as international reserves – Bawumia

Vice President Dr. Mahamudu Bawumia Vice-President Dr Mahamudu Bawumia has said that some analysts and commentators have misinterpreted Ghana’s said policy of utilizing gold reserves to pay for oil as…

Read more
Gunmen stop sermon and rob churchgoers in South Africa

Gunmen stop sermon and rob churchgoers in South Africa

Armed robbers invaded a Johannesburg church in South Africa and stole from the congregants at gunpoint over the weekend. The gunmen stopped the sermon before continuing to acquire money and…

Read more
Norway Appeal Court dismisses appeal against Ghana in Oslo chancery building case

Norway Appeal Court dismisses appeal against Ghana in Oslo chancery building case

By a unanimous resolution, the Oslo Court of Appeal, Norway composed of three Justices of Appeal (Pal Morten Andreassen, Irene Sogn and Rolf Ytrehus), has in a judgment dated Tuesday,…

Read more