Remarks by the President of the 78th session of the General Assembly,?
Mr. Dennis Francis,?
at the?Opening?of the High-Level Dialogue on Financing for Development?
[As Delivered]?
20 September 2023?
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Mr. Secretary-General,??
Excellencies,??
Ladies and Gentlemen,?
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When we?last?convened?this dialogue in 2019, little did we know that the years ahead would bring forth an unforeseeable cascade of tumultuous events.?
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The global pandemic,?protracted geopolitical tensions and the?relentless march?of the?climate?crisis?profoundly transformed?our world and?threw a wrench into?our?progress on the 2030 Agenda.??
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To date, only 15% of the SDG targets are on track,?and?nearly?one?third have stalled or gone into reverse.?
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About 3.3 billion people?¨C?half of humanity?¨C?live in countries that spend?more on debt servicing than?they do?on health, education,?or?social protection.??
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It is high time for all nations to funnel their financial efforts into realizing the Sustainable Development Agenda,?to collectively?forge?a world where no one is left behind.?
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Excellencies,?
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This High-level Dialogue is?therefore?being?convened?at a?pivotal?moment.??
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Yesterday, we concluded the SDG Summit where we committed to?fast-track?progress at the highest levels.??
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And today, we come together to ensure?that?the Summit¡¯s ambition is matched with the necessary resources to make it a reality.?
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This crossroad?represents?a momentous window of opportunity for action.?We have experienced the challenges?first-hand,?and?we have?identified?the solutions.?
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The reform of international financial institutions and the global financial architecture has?reached a point of?urgent necessity.??
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It?is?absolutely?clear?that the current financial architecture has fallen short in mobilising the stable, long-term, and?equitable?financing?required?to?achieve the Sustainable Development Goals.?
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We can?no longer afford to?bury our head in the sand and ignore the writing on the wall.??
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We must fundamentally overhaul our approach to global economic governance.??
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Every nation?¨C?regardless?of size or development status?¨C?must?have an equal seat at the table in shaping global economic decisions.?
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The moment to solidify this commitment is now, and the venue for this imperative action is here?¨C?at?the highest level?of decision-making,?and?by?the institution designed precisely for this purpose.?
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Ä¢¹½ÊÓƵ has already taken resolute strides towards embracing this commitment to transformation, and indeed,?I applaud the Secretary-General for?initiating?the SDG Stimulus?¨C?a plan of immense ambition and urgency.?
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Excellencies,??
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Today¡¯s Dialogue?offers?an opportunity to?discuss ongoing?initiatives and to?showcase?new ones that capture?our ambition to mobilise resources needed to?realise?the 2030 Agenda.??
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We?cannot continue to?neglect the promises made in the Addis Ababa Action Agenda.?
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Strengthening international cooperation?¨C?by?ensuring?just?and?unrestricted?development?assistance, scaling up access to concessional financing,?bolstering?international tax cooperation and?enhancing?debt management?¨C?must?remain the?priority?objectives.?
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Looking ahead, I hope today will inspire?confidence in?us to act. It?is not too late to get the SDGs back on track.??
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However, we must take?bold and?deliberate actions to fulfil our commitments to the means of implementation outlined in the Addis Ababa Action Agenda and the 2030 Agenda itself.?
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Today, let?us raise our voices and collectively commit to funding a?fair and just?world, for all.?
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Thank?you?very much.?
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