Debt at the cost of development: a call for systemic reform and fair solutions

▶️ Debt at the cost of development: a call for systemic reform and fair solutions

“If there are systemic issues that make it impossible for countries to sustain their current debt levels, then there must be solutions. We need an orderly and responsible mechanism to restructure debt,” said UNCTAD Secretary-General Rebeca Grynspan, speaking at the launch of a new UN report offering a fresh path toward sustainable development.

In 2023, 38% of developing countries — nearly half of them in Africa — spent over 10% of their revenues just on interest payments. These unsustainable burdens are forcing countries to choose between paying creditors and investing in their people, health systems, education, and climate action.

At the Fourth International Conference on Financing for Development, the Compromiso de Sevilla offers a chance to reset how global finance works for developing countries.

An Expert Group appointed by the UN Secretary-General, with UNCTAD as the Technical Secretariat, has put forward 11 actionable proposals — ranging from systemic reforms to improved debt strategies — designed to unlock the financing urgently needed to achieve the #GlobalGoals.

▶️ Dive into the full report: https://ow.ly/BfsL50WhSw5

#FinancingOurFuture #FFD4

Видео Debt at the cost of development: a call for systemic reform and fair solutions канала UN Trade and Development