Finance minister Henry Musasizi has urged finance ministers to balance fiscal stability with climate resilience investments as rising global energy pressures strain national budgets and threaten long-term economic development.
Finance and Economic Development Minister Henry Musasizi has called on finance ministers worldwide to strengthen cooperation on climate financing and protect investments in resilience as the global energy crisis puts additional pressure on national budgets.
Musasizi made the call while chairing the 16th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action in Bangkok, Thailand, on Wednesday, October 14, 2026, on the sidelines of the World Bank–International Monetary Fund (IMF) Annual Meetings.
Addressing finance ministers, development partners and other stakeholders, Musasizi said governments needed to maintain macroeconomic stability and fiscal sustainability without sacrificing investments designed to protect economies against future shocks.
“For today’s theme, the policy challenge is clear. We must preserve macroeconomic stability and fiscal sustainability, while protecting the investments that build resilience to future shocks,” Musasizi said, noting that the global energy crisis was testing governments’ ability to balance these priorities.
The Coalition brings together 103 finance ministries seeking to integrate climate considerations into government operations and institutionalise climate action in macroeconomic and financial decision-making.
Musasizi highlighted progress under the Coalition’s Strategic Work Programme, launched at the previous ministerial meeting in Washington, which seeks to strengthen climate action across finance ministries’ core responsibilities, including economic development, fiscal resilience and resource mobilisation.
He said member countries had continued to benefit from capacity-building programmes covering climate adaptation, the green transition and economic resilience, alongside initiatives addressing nature, biodiversity and national wealth.
A key area of work involves incorporating the economic benefits of climate adaptation and resilience investments into debt sustainability analysis. The approach aims to help countries create additional fiscal space, lower borrowing costs and unlock financing for infrastructure that supports private-sector investment.
Musasizi said Uganda would continue to advance the initiative, which is already being replicated in Zambia, with plans to extend it to other countries.
He also acknowledged collaboration with leaders of the Pan-African Finance Ministers Forum for Climate Action (PAFCA), including representatives from Zambia and the Democratic Republic of Congo, in advancing regional climate financing initiatives.
The minister further highlighted growing cooperation among finance ministries, central banks and financial supervisors to strengthen research into the economic benefits of adaptation and resilience investments while mobilising additional climate finance globally.
The Coalition is also examining the design and macroeconomic implications of carbon border adjustment measures, which can affect international trade, national competitiveness and economic policymaking.
Ahead of the 17th Conference of the Parties to the Convention on Biological Diversity (CBD COP17), the Coalition is working with Armenia to strengthen the participation of finance ministries in discussions linking nature, biodiversity and economic prosperity.
Musasizi said the initiatives underscored the need to integrate climate considerations into economic planning and financial policy rather than treat climate action as a separate development agenda.