Getting Energy Prices Right – Smart but...
Christine Lagarde, managing director of the IMF, returned to CGD last week to talk about getting energy prices right. That’s the title of a new book by Ian Parry and co-authors at the IMF.
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Christine Lagarde, managing director of the IMF, returned to CGD last week to talk about getting energy prices right. That’s the title of a new book by Ian Parry and co-authors at the IMF.
IMF managing director Christine Lagarde announced at a CGD event on Tuesday that the IMF would provide research and analytic support in three areas crucial to sustainable development: carbon pricing, phasing out fossil fuel subsidies and green national accounting, that is, development of new measures of economic progress that take into account environmental costs and benefits not included in Gross Domestic Product (GDP).
In a major departure from the IMF’s traditional focus on narrowly defined economic problems, IMF managing director Christine Lagarde warned today that the world faces “a triple crisis—an economic crisis, an environmental crisis and, increasing, a social crisis.”
As Nancy Birdsall wrote in a recent blog posting, an IMF Staff Position Note issued on March 25 offers valuable ideas for leveraging IMF Special Drawing Rights (SDRs, an international reserve asset and the IMF unit of account) to begin raising the hundreds of billions of dollars needed to respond to the looming challenge of runaway climate change
Climate change politics are strange. Innovation, even when it’s about easy new money, is hard. That’s the lesson I extract from what happened on March 4th in the IMF boardroom.
CGD president Nancy Birdsall urged the United States to exercise leadership at the upcoming G20 Summit in Pittsburgh in a speech today at the Center for Global Development.
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