Denis Naughten (Roscommon-Galway, Independent) | Oireachtas source

I oppose the proposal to approve without debate the additional borrowing facility at the International Monetary Fund. Countries most vulnerable to climate change face not only devastating floods and other disasters but also crippling debt. These financial burdens are nearly impossible to escape, leaving little room to address the pressing needs of their populations. Without significant debt relief, these countries will struggle to provide basic services, let alone tackle climate change. Targeted support from nations like Ireland through institutions such as the IMF could make a profound impact. Thoughtfully designed assistance could ensure climate mitigation and adaptation are prioritised in global aid efforts. For example, a debt-for-climate swap, where debt is reduced in exchange for commitments to environmental action offers a pathway to address both economic and ecological crises, giving vulnerable countries a fair chance to adapt to the changing world. We need to have a debate on that in the House.

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