{"id":5849,"date":"2023-06-22T22:18:01","date_gmt":"2023-06-22T17:18:01","guid":{"rendered":"https:\/\/www.asiafreepress.com\/?p=5849"},"modified":"2023-06-22T22:18:03","modified_gmt":"2023-06-22T17:18:03","slug":"imf-chief-says-100-bn-target-met-for-climate-poverty-funds","status":"publish","type":"post","link":"https:\/\/www.asiafreepress.com\/en_gb\/business\/imf-chief-says-100-bn-target-met-for-climate-poverty-funds\/","title":{"rendered":"IMF chief says $100 bn target met for climate, poverty funds"},"content":{"rendered":"<p>Paris, June 22: The head of the International Monetary Fund said Thursday that rich countries had met a target of reallocating $100 billion of funds from the institution to battle climate change and poverty in developing countries.<\/p>\n\n\n\n<p>&#8220;We meet the target, we do have the 100 billion,&#8221; Kristalina Georgieva told reporters at a climate financing summit in Paris.<\/p>\n\n\n\n<p>Ahead of the summit the IMF had still needed another $40 billion to hit the target.<\/p>\n\n\n\n<p>The plan, first announced in 2019, was for wealthier countries to recycle $100 billion in IMF special drawing rights (SDRs) for vulnerable economies.<\/p>\n\n\n\n<p>SDRs are foreign exchange reserve assets awarded to countries based on how much they contribute to the IMF.<\/p>\n\n\n\n<p>The idea, which some European countries resisted, was for wealthier countries to lend these foreign exchange reserve assets to the IMF, which could in turn lend them to developing economies.<\/p>\n\n\n\n<p>Ahead of the summit, France and Japan announced that they would redeploy 30 percent of their SDRs for this purpose.<\/p>","protected":false},"excerpt":{"rendered":"<p>Paris, June 22: The head of the International Monetary Fund said Thursday that rich countries had met a target of reallocating $100 billion of funds from the institution to battle climate change and poverty in developing countries. &#8220;We meet the target, we do have the 100 billion,&#8221; Kristalina Georgieva told reporters at a climate financing [&hellip;]<\/p>","protected":false},"author":15,"featured_media":5850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,396],"tags":[],"class_list":["post-5849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest"],"_links":{"self":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/posts\/5849"}],"collection":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/comments?post=5849"}],"version-history":[{"count":0,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/posts\/5849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/media\/5850"}],"wp:attachment":[{"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/media?parent=5849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/categories?post=5849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiafreepress.com\/en_gb\/wp-json\/wp\/v2\/tags?post=5849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}