The main objective of the Paris agreement signed by 190 countries in 2015, is to reduce carbon emissions and ensure a transition to low emissions economies. A new IMF paper looks at the role of fiscal policies in helping countries implement their climate strategies. Andrew Steer, President and CEO of the World Resources Institute joined a panel to discuss the paper at the Center for Global Development. Before joining WRI, Steer held senior positions at the World Bank and was the Chief Author of the landmark 1992 World Development Report that placed environmental economics front and center. In this podcast, Steer says carbon emissions need to be dramatically cut from the global economy to avoid dangerous climate change, and carbon pricing can help do that.
Read the paper: Fiscal Policies for Paris Climate Strategies
In 2018, African Union members established the African Continental Free Trade Area in an effort to boost regional trade. They agreed to eliminate tariffs on most goods, liberalize the trade of services and address obstacles to trade between African countries. The African free trade agreement has since been ratified by 22 countries and is likely to take effect later this year. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa studies the potential impact of the agreement that will establish a market of 1.2 billion people with a combined GDP of US$2.5 trillion dollars. In this podcast, economists Reda Cherif and Geremia Palomba say this could be an economic game changer for the continent.
Geremia Palomba is a Deputy Division Chief and Reda Cherif is a Senior Economist in IMF’s African Department.
Nature and economic progress often have a conflicting relationship. In this podcast, lifelong champion of the natural world Sir David Attenborough joins IMF Managing Director Christine Lagarde for a tête à tête on how economic growth and the economies of nature can work together to preserve life on earth. While the world’s natural resources make life and industry possible, the demands of a growing economy are putting unsustainable pressures on our climate and vital ecosystems. In his broadcasting career spanning over six decades, Sir David Attenborough has connected people to the wonders of the natural world through visually stunning documentaries like The Blue Planet, and more recently Our Planet; the quintessential guide to the economy of nature. David Attenborough and Christine Lagarde met before a live audience during the IMF World-Bank Spring Meetings.