At the UN headquarters in New York, General Secretary Antonio Gutesh, General Assembly President Philome Young, and Bob Ray, president of the Economic and Social Council (ECOC), emphasized on the needs of big resources, and emphasized major changes in global financial structures.
He warned that if effective revenge was not taken, the world could move forward in achieving goals such as ending poverty, fighting climate change and building a new uninterrupted economy.
All officials were held last week after the World Bank and International Monetary Fund (IMF) meeting, which was addressing Ecosok’s annual “Financing for Development” forum.
This discussion focuses on global development, trade tensions and growing loans in developing countries.
Everyone does harm to business war
General Secretary Antonio Gutresh said, “This year’s Ecosok platform is coming to a very important time,” when global cooperation is in danger.
He described the growing trade tensions as a major threat and said that the increase in business barriers has become a “clear and immediate threat” for the global economy, even though it is a clear example of international cooperation.
It was clearly visible in the IMF, the World Trade Organization (WOO) and the UN economists recently in the cuts of global development assumptions.
He said, “Everyone loses in business war, especially the weak countries and people who are most affected.”
We have to go to a fast pace
The general secretary explained how many donors were pursuing from the promise of assistance, while the growing cost of taking loans ends public investment, so the Sustainable Development Goals (SDGs) “are severely disappearing.”
He emphasized, “We have only five years left to achieve the SDG, so we have to go fast.”
At the same time, he requested countries to confirm the adventure and concrete results at the ‘Fourth International Development Finance Conference’ held in Seville.
He warned that “in this unstable background we cannot ignore our development financing ambitious goals.”
Heavy debt
Ecosok president Bob Roy says that more than three billion people live in countries where the government is spending more money to pay for health and education.
He said that “we need to prepare more affordable loan arrangements …”
At the same time, he demanded instant immediate reform, which allows countries to invest in their debt and suitable investment in the future.
Referring to the recent steps to impose new fees by countries in the United States, like the United States, he expressed concern over increasing trade barriers.
He said, “Business is not a wrong thing … it is a positive means of exchanging goods and services for countries and poverty.”
He urged the countries not to look at the business as ‘Win-Divett’, but fair and open business measures should be taken as a way of sharing.
Reform call
General Assembly President Phillome Young has outlined the results of Debt’s increase and decrease financial capacity.
According to UN economists, in more than 5 developing countries, governments are now spending more than 5 percent of their revenue to pay, and in 17 countries, the number is more than 20 percent, which is a clear indication of the situation of not being able to pay LOAN.
Chairman Young warned that “failure to improve our international financial structure has been severely obstructed by access to capital.”
It is very important to get this financial difference to achieve SDGs, which are now being judged more than $ 4 trillion every year.
