IMF, IDB expand partnership for Latin America, Caribbean

The International Monetary Fund (IMF) and the Inter-American Development Bank (IDB) have announced an expanded partnership to bolster support for Latin American and Caribbean countries. The focus will be on enhancing general coordination and climate finance efforts.

The IDB and IMF will collaborate more closely on macroeconomic policy, the Resilience and Sustainability Fund (RSF), IDB lending, and capacity development. Their climate finance initiatives will aim to support climate objectives, facilitate RSF implementation, and mobilise climate funding.

Recent climate finance roundtables in Barbados, Jamaica, and Costa Rica have brought together stakeholders to address climate finance needs and improve access to funding.

IDB President Ilan Goldfajn and IMF Managing Director Kristalina Georgieva highlighted the significance of this partnership in advancing sustainable growth and tackling climate challenges.

The renewed partnership builds on achieved success stories achieved in Paraguay, Jamaica, Barbados, and Costa Rica, including enhancements to financial management and climate-focused initiatives.

Attribution: IMF