Georgieva Says IMF to Boost Climate Funding, Weighs Debt-for-Nature Swaps
- Country climate pledges may be used for debt-for nature swaps
- IMF chief says African call for climate SDRs likely unworkable
Kristalina Georgieva
Photographer: Omer Messinger/Getty ImagesThis article is for subscribers only.
The International Monetary Fund plans to speed up payments from a new program to shield countries from the fallout of global heating, and is exploring the use of swaps to provide debt relief in exchange for meeting national climate pledges.
Managing Director Kristalina Georgieva said the Resilience and Sustainability Trust, which the IMF established in 2022, has already distributed money to 11 countries, six of those in Africa, and there is a queue of over 40 awaiting assistance.