The International Monetary Fund (IMF) on Sunday called for public and private sector investments to decisively reduce emissions. The report also praised India’s G20 presidency as a “powerful reminder” that working together can achieve far more than expected in solving global problems.
“Our only The Earth is threatened by climate change. Ahead of COP28, we must increase our ambition to decisively reduce emissions to prevent serious risks to economic well-being and macro-financial stability,” IMF Managing Director Kristalina Georgieva said in a statement. She was in the capital to attend the G20 leaders’ summit, which concluded on Sunday.
She further said that turning this ambition into reality will require significant investment from the international community and the private sector, as well as an appropriate carbon price. “G20 members must lead by example and deliver on their commitment to provide $100 billion per year in climate finance, with the support of strengthened multilateral development banks,” she said, adding that the International Monetary Fund has supported our efforts through resilience and sustainability. Sustainability programs have secured more than $40 billion in funding to support fragile states. Trust (RST) to build climate resilience.
“At the same time, countries also need to mobilize domestic resources to finance and manage the green transition through tax reforms, effective and efficient public spending, strong fiscal institutions and deep local debt markets.” She also emphasized that the International Monetary Fund We are working with partners to provide policy support and capacity building to assist countries.
She expressed her appreciation for India’s chairmanship of the G20, saying that it was a powerful reminder that “when the international community works together to solve global problems, a lot can be achieved.” She said she looked forward to further strengthening international cooperation bonds, Creating a more prosperous and resilient global economy for all. “The leaders wholeheartedly accept the theme of Indian Presidency”One Earth, One Family, One Future“And conveyed in the New Delhi Declaration a strong consensus for joint action to address global challenges,” she said.
Talking about the global economy, she said that although the economy is recovering, the recovery is slow and uneven. In an environment where inflation remains high, interest rates are high, and fragmentation is increasing, the medium-term growth prospects are the weakest in decades. The risk of further divergence is real, with rich countries more resilient to shocks and vulnerable emerging and low-income countries facing limited buffers, the IMF managing director added.
In this context, countries should pursue reasonable policies and support economic and financial stability and growth-oriented structural reforms. This is particularly important for emerging and developing countries, where such reforms can boost output by up to 8% over four years,” she said.
She stressed the need for quota reform and said that since the outbreak, the IMF has injected $1 trillion in reserves and liquidity through loans to nearly 100 countries and historic special drawing rights allocations. sex. “To make the global economy stronger and more resilient in a world more vulnerable to shocks, it is crucial to reach an agreement before the end of the year to increase the IMF’s quota resources and ensure that the Fund provides interest-free Support the resources needed. Help the poorest countries through the Poverty Reduction and Growth Trust Fund,” she said.