IMF On Climate Change

Corporate backers include consumer goods company Unilever, the world's biggest furniture retailer IKEA and British sustainable energy company Octopus EV

Corporate backers include consumer goods company Unilever, the world's biggest furniture retailer IKEA and British sustainable energy company Octopus EV

IMF Chief Kristalina Georgieva on Thursday said interest rates should keep falling in 2024 but cautioned that there is no room for any policy error as the last mile is "very, very tricky". In an interview with the World Economic Forum here during its Annual Meeting 2024, she said that the central banks should not tighten prematurely because then they may lose the victory that is now in their hands. Expecting the positive trend to continue in 2024, she said, "The inflation rate is going down, on average." The International Monetary Fund's Managing Director, however, flagged the regional discrepancies still persisting around. "What we have now is a very diverse range. In some countries, the job is already done, and inflation is low enough for them to have an accommodative monetary policy. Brazil is one example. And in Asia, many countries did not have an inflation problem to start with," she said. "Central banks should not tighten prematurely because then they may lose the victory th

Without rapid and sustained reductions in greenhouse gas emissions, the Earth is currently on course to reach temperatures of roughly 3 C (5.4 F) above preindustrial levels

Floods and drought, hurricanes and heat waves will make the path out of poverty much more difficult. But trying to limit climate change poses its own set of problems for the developing world

Says if we don't address climate change then we will be moving to a 'dark future' in 50 years