Chief warned climate shocks in the next few decades will pose a formidable challenge for all nations.

‘Over the past two decades, the frequency and severity of climate-related disasters here have been rising faster than anywhere in the world,’ IMF head Kristalina Georgieva said at the introduction of the report at the Dubai World Summit.

“Today’s climate challenges are already exacting a heavy toll. And we know our planet is set to keep on getting warmer. Even accounting for significant global cuts to emissions, by 2050, average summertime temperatures could exceed 30°C in half of the region’s countries,” the IMF chief has warned powerfully.

“Climate adaptation is an urgent priority for the region,” she said, calling for policy measures that reflect the climate priorities and outlays on social protection and infrastructure such as water services.

When presenting its “Feeling the Heat” report on Wednesday at the government’s World Summit at Expo 2020 in Dubai, IMF Managing Director Kristalina Georgieva said the climate catastrophe is causing $2 billion (£1.06 billion) in physical damage across the MECA region.

Climate disasters across Asia’s Middle East and central Asia have injured or displaced seven million people in such an average year this century, causing over 2.600 deaths and as much as $2 billion in physical harm, it was said.

Kristalina Georgieva

Kristalina Ivanova Georgieva-Kinova is a Bulgarian economist serving as chair and managing director of the International Monetary Fund since 2019. (wikipedia)

International Monetary Fund

The International Monetary Fund is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. (wikipedia)

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