Malawi is a small and landlocked country, bordering Zambia, Tanzania and Mozambique. It is a UNFPA global population hotspot with a rapidly expanding population (3 percent per year). The country is defined as low-income and ranks 174 out of 187 countries in the 2013 Human Development Index, where it has stagnated for the last five years. Female-headed households experience higher poverty than those headed by men. Since 2012, economic shocks such as devaluation of the Kwacha by 49 percent and inflation of above 20 percent have contributed to high living costs, with Malawi ranking as the 13th worst performing economy in the 2014/15 Global Competitiveness report. With a majority of livelihoods dependent on agriculture, the population is highly vulnerable to the effects of natural disasters such as annual dry spells and flooding.