The head of the International Monetary Fund on Tuesday defended plans to create a $100 billion fund to help countries mitigate the effects of climate change.
"The problem of climate change itself isn't really in the mandate of the IMF," Dominique Strauss-Kahn told a group of students in South Africa's economic hub Johannesburg.
The head of the International Monetary Fund on Tuesday defended plans to
create a $100 billion fund to help countries mitigate the effects of climate
change.
"The problem of climate change itself isn't really in the mandate of the
IMF," Dominique Strauss-Kahn told a group of students in
South
Africa
's economic hub
Johannesburg
. "What
is in the mandate of the IMF is to help financing, in a sustainable way, what
has to be done--especially in the developing countries--to deal with it."
Climate change "has a lot of macro-economic consequences," he said,
including "consequences on the social security, a threat to democracy and
sometimes a threat to peace.
"This is why the Fund has undertaken a mechanism sophisticated enough and
innovative enough to allow the unblocking of the considerable sums necessary to
deal with questions of climate change," he said.
The late January announcement of the 'Green Fund' had raised worries
Strauss-Kahn was trying to extend the IMF's mandate beyond its traditional
sphere.
He said the IMF would in about two weeks release a working document to explain
the proposed scheme. The document will be sent for discussion by a high-level
climate advisory panel set up by U.N. Secretary General Ban Ki-moon in
mid-February.
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