Sub-Saharan Africa needs as much as R725bn per year to adapt to climate change, says IMF

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Countries will need to incorporate climate-related risks in their fiscal strategies as these risks can create further borrowing needs, says the IMF.
Countries will need to incorporate climate-related risks in their fiscal strategies as these risks can create further borrowing needs, says the IMF.
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Climate change adaptation is expected to cost an estimated $30 billion to $50 billion (or between R435 billion and R725 billion) per year for sub-Saharan Africa, according to the International Monetary Fund (IMF).

The multilateral institution on Thursday released the economic outlook for the region. It is expected to grow by 3.7% in 2021 - the slowest recovery in the world - and by 3.8% in 2022. Among the reasons for the slow recovery is the slow vaccination rollout - only about 3% of the population is fully vaccinated, according to the IMF.

In its report, the IMF noted the harsh impacts of global warming and climate change on the region. The region is the world's smallest contributor to carbon dioxide.

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