How law can contribute to a more holistic assessment of debt sustainability

Abstract

The IMF has acknowledged that climate change and other environmental and social factors issues should be incorporated into its analytical work and the surveillance, financial, and advisory services that it provides member countries. However, the IMF’s current approach to these issues hinders its ability to accurately and equitably assess the nature, diversity, scope, and magnitude of these issues. In this article, we argue that the IMF can draw on existing international and transnational law to develop operational policies and procedures that more effectively address financial, economic, environmental, and social (FEES) factors.