World Bank President David Malpass. [Reuters]The World Bank is working with the International Monetary Fund (IMF) on ways to factor climate change into the negotiations about reducing the debt burdens of some poor countries, World Bank President David Malpass said on Friday during an interview. The World Bank and the IMF play an important advisory and consultative role in debt restructuring negotiations since they assess the sustainability of each country’s debt burden. Many developing countries require huge outlays to shore up their food supplies and infrastructure as a result of climate change. “The poorer countries are not really emitting very much in terms of greenhouse gases, but they’re bearing the brunt of the impact from the rest of the world,” he added.

Source: Standard Digital February 20, 2021 21:00 UTC