Debt and climate back on IMF, WB spring meetings agenda
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The spring meetings of the International Monetary Fund (IMF) and the World Bank (WB) are set to focus on combating climate change and assisting heavily indebted nations. The meetings will begin with the IMF's release of its updated World Economic Outlook. The IMF and WB are seeking to address challenges related to climate change, debt, food insecurity, pandemics, and fragility. The World Bank aims to widen its scope to help create a world free from poverty on a livable planet. The IMF and WB acknowledge that trillions of dollars are needed for the transition to a low-carbon energy future, but they cannot cover all the required resources. Collaboration between the IMF, WB, and regional development banks is crucial at the country level. Debt is another major challenge, with negotiations between creditors and indebted countries stalling in some cases. The Global Sovereign Debt Roundtable will focus on this issue. Interest rate hikes by major central banks have increased debt costs for borrowing countries. Governments that spend more than a third of their income on debt interest face additional challenges due to inflation and EuroBond rollovers coming due in 2024.

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https://www.legit.ng/business-economy/economy/1587805-debt-climate-imf-wb-spring-meetings-agenda/