United Nations (AP)-many of the world nations gather in Spain from Monday for a high-ranking conference in order to cope with the growing gap between opulent and penniless nations and to try to close trillion dollars to close them. The United States, previously a major contribution, have drawn their participation so that the search for financial resources will be challenging.
The four -day financing for development meetings in the southern city of Seville takes place because many countries have escalating debt loads that reduce investments, reduce international assist and boost the obstacles to trading.
The United Nations and Spain, the co-moderator of the conference, believes that this is an opportunity to reverse the downward spiral, to close the amazing annual financing gap of $ 4 trillion in order to promote development, get millions of people out of poverty and to achieve the far-reaching and poorly delayed sustainable development goals for 2030.
The deputy general secretary of the United Nations, Amina Mohammed, said on Wednesday that despite “headwind” and high geopolitical tensions, there is hope that the world can manage one of the most significant global challenges-to ensure that all people have access to food, healthcare, education and water.
“This conference is an appeal for actions,” said Spain’s UN ambassador Hector Gomez Hernandez: “And we have the extraordinary opportunity to send a very strong message to defend the commitment of the international community for multilateralism.”
In Seville, delegations are expected in Seville, including more than 70 world leaders, together with several thousand others from international financial institutions, development banks, philanthropic organizations, the private sector and civil society.
At his last preparatory meeting on June 17th, the United States rejected the 38-page result document, which had been negotiated by the United Nations of the United Nations of the United Nations for months, and announced his withdrawal from the process and from the Sevilla conference.
The rest of the countries then approved the document with consensus and sent it to Seville, where it is expected from the conference participants without any changes. It will be known as the commitment of Seville or Kompromiso de Sevilla in Spanish.
The document states that the managers and high-ranking representatives have decided to “start an ambitious package of reforms and measures in order to close the financing gap with urgency”, and it is now estimated to be $ 4 trillion a year.
Among the proposals and measures, it requires minimum tax income of 15% of the gross domestic product of a country to boost state resources, a tripling of lending by multilateral development banks and the scaling of private financing by providing incentives for investments in critical areas such as infrastructure. It also requires a number of reforms to assist countries deal with increasing debts.
Rebeca Grynspan, the UN CEO, told a press conference on Friday that “development is going backwards” and the global debt crisis worsened.
Last year, 3.3 billion people lived in countries who pay more interest for their debts than for health or education – and the number will boost to 3.4 billion people this year, she said. The developing countries pay 947 billion US dollars for the service debt this year, compared to $ 847 billion in the previous year.
At a press conference, she spoke 11 recommendations, of which you say that you can solve the debt crisis that can solve the loan countries and create a more fairer system.
While the United States is raising many actions in the result document, the American Diplomat Jonathan Shrier told the meeting on June 17: “Our commitment to international cooperation and long -term economic development remains steadfast.”
However, he said that the text “exceeds many of our red lines”, including the justification of the government of international financial institutions, the annual credit capacity of multilateral development banks and suggestions that take a role in the UN in global debt architecture.
Shrier also rejected suggestions for trade, tax and innovation that do not correspond to the US policy and a language to an UN framework for international tax cooperation.
The United States was the world’s largest individual money for foreign assist. The Trump administration has dismantled its main aid agency, the US Agency for International Development, while drastically reducing the financing of foreign aids and describing it as wasteful and corresponds to the republican president’s agenda. Other western donors have also reduced international assist.
The United Nations Mohammed said that the withdrawal in the United States from the conference was “unhappy” and emphasized that “many of the recommendations they see cannot be persecuted without continuous discussion with the United States”.
After Seville “we will get involved again with the USA and hope that we can do the case that they are part of the success to pull millions of people out of poverty.”
