Hastening transition to low carbon economy may prove burdensome for emerging economies: FM

hastening transition to low carbon economy may prove burdensome for emerging economies fm

Sumary of Hastening transition to low carbon economy may prove burdensome for emerging economies: FM:

  • Finance Minister Nirmala Sitharaman on Thursday cautioned that IMF Global Policy Agenda suggestion to hasten transition to a low-carbon economy for promoting growth that benefits all may not lead to positive benefits for emerging market, developing and low income economies in the short run..
  • Low-carbon economy Sitharaman said that GPA suggestion to hasten the transition to a low-carbon economy for promoting growth that benefits all needs to be viewed in the context of its implications for the Emerging Market and Developing Economies and low-income economies..
  • The discussions at Thursday meeting were based on IMF Managing Director Global Policy Agenda (GPA) titled, “Bolstering the Recovery, Countering Divergence”..
  • Key is vaccine availability Sitharaman endorsed the view of the IMF that the key priority remains to end the pandemic and the universal availability of vaccines and medical solutions need to be ensured…

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