Latin America Advisor
Energy Advisor
A Publication of The Dialogue
Will an IMF Plan Help the Caribbean Address Warming?
Caribbean countries are some of the most vulnerable to the adverse effects of climate change. A flood in Cuba is pictured. // File Photo: Cuban Government
Barbados is set to become the first nation to receive funding from a new International Monetary Fund initiative for climate change adaptation. It will receive some $183 million for climate-focused spending from the institution’s $45 billion Resilience and Sustainability Trust. What are the benefits and drawbacks of the IMF program and new sustainable finance initiatives? Is the trust fund sufficient to address the Caribbean’s efforts to mitigate climate change catastrophes? How will spending be monitored?
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Arthur Deakin, energy practice co-director at Americas Market Intelligence: “The benefits of this IMF fund facility far outweigh the drawbacks (for example, more austere fiscal measures and an increased debt burden). It will allow Barbados and other islands to strengthen their seawalls, develop clean power generation, reduce fossil fuel dependence and overall improve their infrastructure to sustain natural disasters. Within three years, Americas Market Intelligence predicts that roughly 90 percent of new houses built in Barbados will have solar panels. Why? Decreased costs, supporting legislation and…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Erik Brand, publisher of the Advisor, at ebrand@thedialogue.org.
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Erik Brand
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E. ebrand@thedialogue.org
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