IMF head urges pandemic response that tackles climate crisis

International Monetary Fund Managing Director Kristalina Georgieva urged policymakers on Wednesday to use their response to the coronavirus pandemic to tackle climate change. 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.

International Monetary Fund Managing Director Kristalina Georgieva urged policymakers on Wednesday to use their response to the coronavirus pandemic to tackle climate change. "Looking ahead, policies should lay the foundation for a low-carbon, resilient recovery that would create millions of jobs while help address the climate crisis," she told an International Labour Organization conference.

"We are especially concerned that the crisis will jeopardise 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.