Pacific Leaders Demand More Climate Finance in IMF Roundtable

Deputy Prime Minister and Minister of Finance, Professor Biman Prasad, took part in the Pacific Island High Level Roundtable led by International Monetary Fund (IMF) Managing Director Kristalina Georgieva. Also present was Bo Li, the Deputy Managing Director overseeing the Asia Pacific region. During the session, Pacific Ministers discussed their experiences with reform progress and financing in collaboration with the IMF, while highlighting significant challenges related to rising natural disasters, economic shocks, and insufficient access to climate financing. In his comments, Professor Prasad underscored the IMF’s vital role in promoting increased climate financing, noting that the financial resources available for the Pacific are only a small fraction of what is actually needed.