IMF should give poor countries $300bn a year to fight climate crisis, says Joseph Stiglitz

Developing nations need equivalent of US Inflation Reduction Act, says Nobel prize-winning economist

Poor countries should be provided with $300bn (246bn) a year from the International Monetary Fund to finance their fight against the climate crisis, the Nobel prize-winning economist Joseph Stiglitz has said.

Speaking to the Guardian at the IMF's annual meeting in Marrakech, Stiglitz said developing nations needed their equivalent of the US Inflation Reduction Act - a package of grants and subsidies designed to promote green growth and jobs.