In today’s announcement, the head of the IMF states that the members of the G20 should honor the promised sum of 100 billion dollars per year for the financing of climate change
The head of the International Monetary Fund (IMF), Kristalina Georgieva, appealed to the members of the G20 to lead by example in the fight against the climate crisis and poverty after this weekend’s summit in India.
In today’s announcement it is stated that (members of the Group of 20) should honor the promised sum of 100 billion dollars per year for financing climate change and strengthening multilateral development banks.
“The one and only Our earth is threatened by existential climate changeGeorgieva said.
As he emphasized, there is a need for “big investments from both the international community and the private sector”.
At the same time, countries should support the green transitionfor example through tax reforms.
The head of the IMF warned that while the global economy is just recovering from “a series of major shocks”, the outlook for medium-term growth is the weakest in decades, while inflation and interest rates remain high.
As an international organization, the IMF monitors so that there are no major monetary disturbances that could lead to political uncertainty. Its responsibility is, among other things, to grant loans to over-indebted countries and to countries with debt repayment difficulties.
Source :Skai
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