Seville: United Nations Secretary-General Antonio Guterres warned on Monday in Seville, Spain, of deteriorating global confidence and pressure on multilateralism.
According to Angola Press News Agency, in his speech at the opening of the 4th International Conference on Financing for Development, the UN leader expressed concern about the global economic slowdown, growing trade tensions, and decimated aid budgets.
Guterres highlighted that the world is shaken by inequalities, climate chaos, and violent conflicts, noting that nine of the 10 countries with the lowest human development indicators are currently in conflict, which exacerbates the situation.
The UN chief further added that two-thirds of the Sustainable Development Goals (SDGs) are behind schedule and that achieving them will require an investment of more than 4 trillion US dollars per year.
For Guterres, the Seville Declaration is a global promise to correct the way the world supports developing countries, pointing to the generation of resource flows, the correction of the global debt system, and the increased participation of these countries in global financial institutions.
Nigel Clarke, deputy director-general of the International Monetary Fund (IMF), assured that this banking institution is working to make the economies of developing countries more resilient and vibrant.
In his speech, Clarke advocated broadening the tax base, building sound financial management systems, coordinating support, and addressing debt sustainability, calling for improvements in the restructuring process.
Nigel Clarke emphasized that the IMF will continue to help its members achieve economic and financial stability, a prerequisite for achieving their development goals.