“The price of carbon emissions will reach $85 per ton by 2030,” stated Kristalina Georgieva, the director of the International Monetary Fund (IMF).
During the World Economic Forum (WEF) in Davos, she emphasized that “political will is a key renewable resource” in combating climate change and predicted carbon emissions prices would rise to $85 per ton by 2030, as reported by B92.
Georgieva highlighted that we should redirect the excessively high current subsidies for fossil fuels towards fighting climate change.
“National contributions in combating climate change may fall to less than 50 per cent of what is predicted by 2030. The IMF’s role is to assist countries in achieving these goals,” stated Georgieva.
She also supported the efforts of World Bank President Ajay Banga, who previously committed his organization to achieving five concrete goals in the climate change battle.
In December, the International Monetary Fund revised its growth estimate for carbon emission prices by 2030 from $75 to $85 per ton.
Georgieva: Reduction of Interest Rates Before Early 2025
Regarding the hike in central banks’ interest rates, IMF Director General Kristalina Georgieva mentioned it’s too early for them to return to their previous levels, expecting a reduction before early 2025.
Georgieva pointed out that central banks have acted in coordination, and inflation is decreasing, as reported by Anadolu Agency.
However, she added during the Qatar Economic Forum in Doha that core inflation, influenced by food prices, still requires attention.
Georgieva emphasized that central banks must maintain their course, warning that withdrawing too soon and reducing interest rates could prolong inflation-related growth issues.