Least-developed countries and island nations are struggling with crippling debt levels made worse by global currency fluctuations and climate disasters hitting their economies
The Spring Meetings of the World Bank and IMF are a chance to transform outstanding debts for fossil fuel projects into grants for renewable energy systems
Under pressure from the IMF, the government has redirected subsidies into education, welfare and debt reduction, leaving fuel-heavy sectors with higher costs
At the World Bank’s spring meeting, US Treasury Secretary Janet Yellen called for the adoption of a reform that would free up funds for climate lending.
Five countries had loan packages approved under the IMF’s first sustainability fund, but concerns remain about whether it will boost resilience for the most vulnerable nations
The US will subsidise North American-made electric vehicles, sparking responses from other rich countries – but there are concerns on the effects on the developing world.
In July, Barbados’ prime minister invited leaders to a retreat to discuss plans to scale-up international finance for the climate frontlines. Now, she’s asking the world for support
The Resilience and Sustainability Trust aims to help countries prepare for climate shocks. Bangladesh, Zimbabwe and the Philippines are among those unlikely to qualify
The IMF trust fund could be worth up to $50 billion and meet vulnerable countries’ call for support to address the triple crisis of debt, Covid and climate change
Kristalina Georgieva said the IMF was considering proposals to ensure climate vulnerable middle-income nations receive support to build back better from Covid-19
Analysis shows IMF advice to countries accessing Covid-19 emergency funds fails to systematically address climate risks and implicitly endorses fossil fuel subsidies
If major emitters do not agree to a minimum carbon price, IMF chief Kristalina Georgieva said the EU was right to impose tariffs on imports at the border