The United Nations Headquarters in New York hosted the first Biennial Summit for a Sustainable, Inclusive and Resilient Global Economy, where leaders from around the world gathered to tackle the 4 trillion dollar funding gap for the Sustainable Development Goals.
UN Secretary-General Antonio Guterres opened the summit with a call to reform the international financial architecture, stressing that outdated structures stand in the way of real-world progress.
In her address, Annalena Baerbock, president of the 80th UN General Assembly, highlighted the UN’s clear recommendations: higher representation for developing countries in international financial institutions and new mechanisms to unlock capital for green projects.
Lok Bahadur Thapa, president of the UN Economic and Social Council, noted that connecting the UN more systematically with global financial bodies is key to restoring trust in the multilateral trading system amid rising trade disputes.
IMF Managing Director Kristalina Georgieva warned that by 2030, global public debt could near 100 percent of GDP, squeezing fiscal space in many nations. She urged structural reforms to harness private-sector investment and spur sustainable growth.
South African President Matamela Cyril Ramaphosa called on the African Union, G20 members, the IMF and World Bank to jointly craft inclusive global rules, ensuring no individual, community or country is left behind in the transition to a resilient economy.
As delegates break into working groups, the goal is clear: bridge financing gaps, strengthen multilateral cooperation and reshape the financial system for an inclusive, future-ready world.
Reference(s):
cgtn.com
