IMF warns against subsidy race for green technologies

The International Monetary Fund (IMF) is warning against excessive subsidies for climate-friendly economic restructuring. There is a danger of an unhealthy subsidy race between the world’s largest economic powers, according to an IMF blog post published Thursday. Rich countries could leave poorer emerging and developing countries behind in the process. That would make competition even more difficult. Accordingly, subsidies should only be used carefully and precisely when markets fail.

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