International Monetary Fund. External Relations Dept.
On May 22, Manuel Guitián, Director of the IMF’s Monetary and Exchange Affairs Department (MAE), discussed his department’s work on capital account convertibility, financial sector soundness, and exchange rate regimes. Guitián, a national of Spain with a law degree from the University of Santiago, Spain, and a Ph.D. in economics from the University of Chicago, has been Director of MAE since 1995.
Johanna Tiedemann, Veronica Piatkov, Dinar Prihardini, Juan Carlos Benitez, and Ms. Aleksandra Zdzienicka
Small Developing States (SDS) face substantial challenges in achieving sustainable development. Many of these challenges relate to the small size and limited diversification of their economies. SDS are also among the most vulnerable countries to the impact of climate change and natural disasters. Meeting SDS sustainable development goals goes hand-in-hand with building their climate resilience. But the additional costs to meet development and resilience objectives are substantial and difficult to finance. This work adapts the IMF SDG Costing methodology to capture the unique characteristics and challenges of climate-vulnerable SDS. It also zooms into financing options, estimating domestic tax potential and discussing the possibility of accessing ‘climate funds.’