World Bank and IMF Criticized for Shifting Away from Explicit Climate Action

The World Bank and IMF are facing criticism for reportedly shifting their focus away from explicit climate action towards 'resilience,' a move that critics argue reflects political pressure from the US and weakens their response to global warming. The IMF's reliance on fiscal consolidation and foreign exchange accumulation in its programs is also seen as potentially undermining countries' climate policy goals and macroeconomic stability.