Introduction and Summary The advent of Hurricane Ivan and its tragic and devastating consequences in the Cayman Islands and particularly in the Grand Cayman puts a strain on the economy and fiscal pressures on Government. The consequences of Ivan pose the need beyond the humanitarian response, for a rapid assessment of the damage (impact on assets); and losses (effects on economic and social flows); to determine its macroeconomic, social and environmental consequences and its implications for the country's fiscal stance. At the request of the Cayman Islands Government and with the support of the United Nations Development Programme (UNDP); such assessment was undertaken by an ECLAC-led mission in accordance to its well-established and accepted disaster evaluation methodology. (ECLAC, 2004, www.eclac.cl/mexico);. This assessment will complement and expand on the emergency and humanitarian needs identified previously by the government and particularly by the Economics and Statistics Office. The result of such an assessment provides a quantitative approximation to the overall damage and reconstruction costs of the event and looks into the effect on the country's macroeconomic performance as compared to the pre-hurricane targets. The final section of the report outlines some strategic considerations and priorities for projects and actions required, for which additional resources will be needed. The findings of the report suggest areas of attention for incremented emphasis in the content of the country's economic programmme, and the need to mobilize both international cooperation resources and private sector investment. It is quite evident, even before an assessment is made, that additional needs and stronger emphasis should be put on the cross-cutting theme of disaster and risk management, in the face of the country's crystallized exposure and vulnerability to natural hazards. This year's events testify to a dramatically increased vulnerability not only in the jurisdiction of the Caymans but in the Caribbean basin as a whole, affecting island nations and territories as well as continental states in Mexico and the United States. This approach transcends the Cayman Islands, leading to the need to consider a regional Caribbean strategy.