G20 members must mobilise domestic resources for climate finance: IMF Chief
Kristalina Georgiev said in order to make the global economy resilient in a more shock-prone world, it is vital to reach an agreement to increase the IMF’s quota resources before the end of the year. President Droupadi Murmu and Prime Minister Modi welcome International Monetary Fund (IMF) MD Kristalina Georgieva during the G20 Summit, in New Delhi, on Sept. 9, 2023. NEW DELHI: G20 members must lead by example in delivering on the promises of $100 billion per year for climate finance, supported by strengthening the Multilateral Development Banks, Kristalina Georgieva, managing director of the International Monetary Fund, said on Sunday. The IMF MD said that while the IMF has secured over $40 billion to support vulnerable countries through our Resilience and Sustainability Trust (RST) to build climate resilience, countries also need to mobilize domestic resources to finance and manage the green transition through tax reforms, effective and efficient public spending, strong fiscal i...