Two workshops held under the SICA Regional Action Plan brought together Ministries of Finance, regional institutions and cooperation partners to assess risks and explore financial preparedness options.
October 29, 2026. The Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN), through its Executive Secretariat, held a series of two regional workshops to strengthen countries’ fiscal and financial preparedness for the potential impacts of the 2026–2027 El Niño phenomenon.
The initiative is part of the Regional Action Plan for El Niño (PAR-ENO), promoted by the General Secretariat of the Central American Integration System (SICA), CEPREDENAC and the Regional Committee for Water Resources (CRRH). Within this framework, COSEFIN participates in Action Line 2, “Implementation of priority measures in critical sectors,” specifically under Intervention Area 2.7, “Economy and Financial Protection.”
The first workshop, “Expected Impacts and Fiscal Exposure to El Niño 2026–2027,” examined climate outlooks and potential sectoral impacts, and provided an opportunity to discuss risks that could affect economies and public finances. Country representatives shared their concerns, existing preparedness measures, and needs related to information and institutional capacity strengthening.
The second workshop, “Financial Instruments and Solutions for Financial Preparedness for El Niño 2026–2027,”focused on risk financing options, the exchange of national experiences, and the identification of gaps and priorities to strengthen financial preparedness. Representatives of the World Bank, the Inter-American Development Bank (IDB), the Central American Bank for Economic Integration (CABEI) and CAF – Development Bank of Latin America and the Caribbean – shared their experience and instruments available to countries.
The COSEFIN Executive Secretariat coordinated both workshops, with the participation of Ministries of Finance, regional institutions, international financial institutions and cooperation partners. The discussions generated preliminary inputs on risks, capacities, gaps and opportunities for regional cooperation.
The series also contributes to advancing the Regional Strategy for Financial Management of Disaster Risk (ERGFRRD) by promoting capacity strengthening, contributing to the development of national strategies, and identifying options for mobilizing resources to address climate risks and disasters.
As COSEFIN’s Pro Tempore Presidency for the second half of 2026, Belize supports the continuation of this regional agenda and dialogue among participating countries and institutions.
The contributions from the workshops will help guide future technical assistance and cooperation, and strengthen regional work on fiscal and financial preparedness for El Niño.
