The President of the Inter-American Development Bank (IDB), Ilan Goldfajn, and the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, have agreed to enhance their collaboration to better support the efforts of common members in Latin America and the Caribbean to foster sustainable and inclusive growth and address the structural challenges of climate change.
A release from the two entities disclosed that the two, “operating within the scope of each institution’s mandate… will increase their cooperation in areas of general coordination and climate finance.” As part of what the release describes as “enhanced general coordination” the two entities will “deepen their cooperation in the areas of ‘(i) surveillance of macro-economic policies, (ii) IMF arrangements, in particular the Resilience and Sustainability Fund (RSF), (iii) IDB lending operations, including investment and policy-based loans, and (iv) capacity development.’”