The International Monetary Fund’s climate change policies are making it harder for countries in need to tackle and adapt to climate change, a new report by a developing-country task force said.
The Task Force on Climate, Development and the International Monetary Fund — a highly regarded group of experts and NGOs representing finance ministers from poorer and climate-vulnerable nations — wants the fund to give countries in need more flexibility to spend to combat climate change, rather than pursuing debt and deficit reduction, the IMF’s core mission. In essence, the report makes the case that these countries’ fiscal problems will be far greater if climate change destroys their economies.