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Over the last 35 years the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has assessed major disasters in the Latin American region. Based on those exercises, which that have been conducted in a systematic manner using an evolving but comparable methodology over the years, there is now historical evidence of the economic consequences these events have on the region's economies. This evidence-based approach sheds light on the link between economic performance, development dynamics and how disasters, as "external" shocks, generate lingering effects of different relative importance. The publication describes economic impact of disasters in Latin America and the Caribbean, presents evidence of environmental damage and losses associated with disasters, and assesses impact of disasters on the Millennium Development Goals (MDGs).