Economic performance of the least developed and Island economies

Many of the least developed countries in the region received severe set-backs in their socio-economic development efforts owing to natural calamities of one form or another during 1987 and 1988. These included severe floods, cyclones and tidal waves in Bangladesh, an unprecedented earthquake in Nepal, untimely rains and drought in Burma and the Lao People’s Democratic Republic, high tidal waves in Maldives and devastating cyclones in Vanuatu. Frequent occurrences of such natural disasters have had their impact on not only current activities and growth but also future development prospects because of the damage inflicted on their already weak framework of infrastructure. Although emergency support provided temporary relief, long-term solutions (including intergovernmental co-operation on and monitoring of environmental issues) needed to be evolved to mitigate these problems, which called for large-scale and technically sound investment in warning systems, flood control measures and irrigation facilities. That, however, remained constrained by the financial resources and technical capabilities that they could mobilize, both domestically and through international support measures. In the face of repeated domestic difficulties, further strengthening of international support measures remained a continuing necessity.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities