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The Philippines faces up to 2% annual GDP loss from climate change without stronger adaptation, the IMF warns.
The IMF warns the Philippines could lose up to 2% of annual GDP to climate change if adaptation measures aren’t strengthened, citing frequent typhoons and rising sea levels.
Climate shocks already cost 0.2–0.3% of GDP yearly, driving inflation up by 0.6 percentage points, especially in agriculture and rural areas.
In 2025, 23 tropical cyclones caused billions in damage, slowing growth to 4% in Q3 and lowering GDP forecasts to 5.1% for 2025 and 5.6% for 2026.
The IMF urges temporary inflation tolerance, lower food import tariffs, and stronger infrastructure and fiscal resilience to counter climate risks while balancing monetary policy.
El FMI advierte que Filipinas se enfrenta a una pérdida anual de hasta 2% del PIB por el cambio climático sin una adaptación más fuerte.