Top Tips to Help Countries Get Back on Their Feet Financially After Being Hit by Natural Disasters

Wednesday, November 20, 2013, 1:00 AM | Leave Comment

Natural disasters have a long lasting impact on a country and its people. It leads to intense damage caused to property and has the capability to bring down massive structures within the blink of an eye. Therefore, it is important for countries to start rebuilding their country and rehabilitating people and helping them get their life back on tracks.

As much as natural disasters cause damage to the tangible assets, there is an immense disturbance that is caused in the financial and economic area as well.

Therefore, reconstructing a country and its financial situation can be quite a daunting task. However, for its people to survive, it is important for a country stricken by natural disasters to follow some essential tips. Survival shelters may become the need of the hour as countries look into the financial aspect and work for a speedy recovery.

Given below are some tips and tricks that will help countries get back to their feet.

  1. Provide financial assistance to the citizens of the country:

    For a country to be economically stable, it first has to take into consideration the well being of its people. No country will be able to recover the monumental financial losses suffered in natural disasters if they are unable to bring back the lives of people back on track. The best way to do this is by ensuring that their medical expenses are looked after.

    Besides, unemployment is bound to rise and in such cases, unemployment insurance will work best. Rehabilitation is also a very important aspect of helping the people of the country. Survival shelters will also ensure that people live a decent life until the economy can be restored.

  2. Laying more emphasis on exports rather than imports:

    This is the secondary step that needs to be taken to ensure that once the tangible assets have been restored, the actual financial restoration work can begin. It is only natural for countries to lay special emphasis on exports in order to trade with foreign countries instead of going the other way round and importing goods.

    Essentially, it is the role of the government to ensure that those industries that play a massive role in the concerned country are targeted to send as many goods to international countries to earn revenue.

    Therefore, it is important that the government nurtures these companies by providing them with ample resources so that they can go ahead and help change the financial situation.

  3. Put debts on a backburner:

    In the event of a natural disaster crisis, it is quite difficult for people to get their life together, let alone pay off outstanding bills and debts.

    Therefore, debtors must be left alone for a particular period of time on a temporary basis and the primary focus must aim at getting the financial situation of the country in place so that they can focus on people individually.

    As a rule of thumb, it would be an excellent option for governments to take financial help in the form of borrowed funds to meet the current economic downfall.

  4. Help create more jobs:

    It may sound like a distant possibility but essentially a government must aim at creating as many jobs for its people so that they can support themselves and their families financially. This will ensure that the families can meet at least the basic necessities if not more.

    This will also lead to more goods being produced and exported out of the country. Therefore, a government must also look after the infrastructure.

Author’s bio:

Simon Capelin is a freelance writer and an environmentalist. He has contributed to several relief programs by helping build survival shelters and supplying necessary products to the victims in the event of natural disasters.

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