loans

Rich countries overstating “true value” of climate finance by up to $88 billion, says Oxfam

9 July 2024

Rich countries have again effectively short-changed low- and middle-income countries as part of international climate change negotiations by as much as $88 billion in 2022, the latest year of newly reported figures, says Oxfam.
Rich countries’ continued failure to honor their $100 billon climate finance promise threatens negotiations and undermines climate action

5 June 2023

As global greenhouse emissions continue to rise, and climate change wreaks more havoc upon the people and places least responsible for the problem, rich polluting countries are now three years overdue on their promise to mobilize $100 billion a year in climate finance for low- and middle-income countries.
For every $1 the IMF encouraged a set of poor countries to spend on public goods, it has told them to cut four times more through austerity measures

13 April 2023

An important International Monetary Fund (IMF) initiative to shore up poor people in the Global South from the worst effects of its own austerity measures and the global economic crisis is in tatters.