The country`s economy has developed a resilience to the impact of natural disasters but remains vulnerable to global financial shocks, said speakers at yesterday`s launch of a UNESCAP study on building resilience. “We`re very experienced with natural disasters so we have a lot of responses to those risk and have already moved into risk reduction even before it happens, but there is no protocol for a global financial crisis,” said Celia M. Reyes, senior research fellow of the Philippine Institute for Development Studies, at the launch of the study entitled “Building Resilience to Natural Disasters and Major Economic Crises.”
