May 27, 2022

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IMF: Climate disasters threaten development

IMF: Climate disasters threaten development

Washington (Reuters)
Kristalina Georgieva, managing director of the International Monetary Fund, said the frequency and severity of climate-related disasters in the Middle East and Central Asia were growing faster than anywhere else in the world, which posed a “significant risk” to growth and prosperity. An average of seven million people are affected and displaced in the region each year, resulting in more than 2,600 deaths and $ 2 billion in property damage.
Commenting on the World Government Summit in Dubai, Georgia said: “Drought in North Africa, Somalia and Iran. Horn epidemics in Africa and locust eruptions. Extreme levels of flood danger in the Caucasus and Central Asia. The list of disasters is growing rapidly.
Analysis of data covering the last century shows that temperatures in the region have risen by 1.5 degrees Celsius, doubled by 0.7 degrees Celsius globally, and already low rainfall has become more volatile than in other regions, according to the International Monetary Fund.
It added that the event had caused permanent losses in GDP by 5.5 percentage points in the Caucasus and sub-regions of Central Asia.
Georgia called on all nations to adapt their economies to climate change. He commended the United Arab Emirates for its commitment to invest over $ 160 billion in renewable energy to achieve carbon neutral and zero emissions by 2050.

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