2023-07-04 18:22:00
Dakar, July 4 (APS) – The conclusions of the Paris summit on a new global financial pact were shared during a videoconference on Tuesday in Dakar, with the aim of highlighting the common will of the actors to provide the world of a more cohesive international financial system.
This meeting by videoconference follows the summit organized in Paris, on June 22 and 23, under the aegis of the French Ministry for Europe and Foreign Affairs, in the presence of several leaders, including the Senegalese President, Macky Sall.
The Paris summit encouraged debates at the highest level between heads of state and government, heads of international organizations, as well as representatives of civil society, foundations, investment funds and the private sector.
The organizers had “expressed the wish to build a more responsive, fairer and more united international financial system”, according to the site dedicated to the event.
They expected this meeting to contribute to building a system to “fight against inequalities, finance climate transition and bring us closer to achieving the objectives of sustainable development”.
In this context, the Paris summit had been assigned the objective of establishing the principles of future reforms and setting a path that should lead to “a more balanced financial partnership between the South and the North”, but also to also pave the way for “new agreements to combat over-indebtedness. »
According to the organizers, this should allow more countries to access the financing they need to invest in sustainable development, “better preserve nature, reduce emissions [de gaz à effet de serre] and protect populations against the ecological crisis, where it is most needed”.
Regarding the challenges of the new international financial system, the Paris summit had argued that the world is now facing “the most difficult conditions for decades”, the public debt having reached “an unprecedented level in all countries”, particularly as a result of Covid-19, so that one-third of developing countries and two-thirds of low-income countries are now at high risk of debt distress.
Added to this is the “sharp rise” in inflation and the tightening of monetary policy, which generate financial volatility and reduce risk appetite.
A misfortune that never comes alone, the global trend of poverty reduction, observed for several decades, has been interrupted, or even reversed, according to most specialists, which leads to growing economic gaps on a global scale.
On the basis of these considerations, the participants at the Paris summit stressed the need to move forward “with solidarity and ambition, if we wish to achieve the SDGs (sustainable development objectives), carbon neutrality and the common objectives of protecting the biodiversity “.
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