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IMF advocates global response for climate crisis 

By NewsDesk

Worried by the impact of climate crisis in modern era, the International Monetary Fund has called on world leaders and global policymakers to as a matter of urgency come up with policies mandating global emergency response for climate crises likened to that seen after the outbreak of coronavirus.

It explained that the call had become imperative to ensure an adequate response is in place to mitigate the impending effect of global warming as being predicted by climate experts.

IMF Managing Director, Kristalina Georgieva, said that policymakers must rise to the occasion by using their response to the coronavirus pandemic to tackle climate change.

This, she said, could be achieved by setting standards centered around low-carbon including other recovery protocols before total easing of lockdown across the globe and return to normalcy.

Speaking to a cross-section of experts and policymakers at an International Labour Organization conference on Wednesday, Georgieva tasked leaders on attitudinal change towards climate crisis and its deserving response.

“Looking ahead, policies should lay the foundation for a low-carbon, resilient recovery that would create millions of jobs while help addresses the climate crisis.

“We are especially concerned that the crisis will jeopardize the important development gains of the last years,” she added.

The IMF last month forecast a deeper global recession than initially anticipated. It now anticipates a global GDP contraction of 4.9% this year and a total output loss of $12 trillion through the end of 2021.

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