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IMF Warns Developing Countries Against Climate Change

Channels Television  
Updated October 11, 2017

The International Monetary Fund (IMF) has issued a new advise to policymakers in developing countries to redouble their efforts, through the formulation of policies that will mitigate the effects of climate change on their economies and the people.

One of the authors of the new chapter in the latest World Economic Report, Natalija Novta stated the effects of changing weathers on growth and stability in poor countries.

According to Novta, the impact on the developing economies such as Nigeria as the 21st-century continues could be seriously negative.

She also adds that the consensus here is that developing countries have to do enough now to mitigate serious consequences in the future.

In recent years, Nigeria and its citizens have had a share of harsh weather conditions and flooding that submerged homes and property; shattering hopes and sometimes with loss lives.

In 2012 about 2.6 trillion was lost as a result of flooding in Nigeria, according to the National Emergency Management Agency (NEMA) and the cost of relief material to the government was estimated at 17 billion naira.