US seeks to weaken global development finance efforts, shows UN document

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US seeks to weaken global development finance efforts, shows UN document - Business Standard

Quick Summary:

With ongoing changes at the World Bank and International Monetary Fund in the fight against climate change already facing pushback from U.S.

It wants to replace a line promising to "commit to reform the international financial architecture" with a pledge to "recognize the need to enhance its resilience and effectiveness in responding to present and future challenges and crises." Such changes in language signal the degree of shared commitment that can then be used as support for action or inaction in future talks.U.N.

US seeks to weaken global development finance efforts, shows UN documentWith ongoing changes at the World Bank and International Monetary Fund in the fight against climate change already facing pushback from U.S.