Climate crisis-hit poor countries should have debt relief, says IMF chief

Exclusive: Kristalina Georgieva calls for ‘debt for climate swaps’ and more finance for poor countries

Poor countries hit by climate disaster should not be forced to struggle with crippling debt payments, the head of the International Monetary Fund has urged before a global summit on climate finance.

Kristalina Georgieva, managing director of the IMF, said providing debt relief to countries suffering from extreme weather was a matter of urgency. Extreme weather is hitting harder around the world, and countries already facing debt mountains cannot afford to service their debts, particularly at a time of high interest rates.