At 🇲🇦Middle-Income Countries conference in FEB, #UN DSG @AminaJMohammed identified upcoming 2024 #Fin4Dev Forum & #SOTF as opportunities for: 1) Mobilizing #development finance 2) Reforming the international financial architecture 3) Developing measures of progress #BeyondGDP
1. Development Finance: “MICs require a step-change in levels of investment to meet #development needs including trade. But today’s economic conditions - national budgets at full stretch, high interest rates & widespread debt overhang - render such investments almost impossible."
"That’s why #UNSG called for an #SDG Stimulus. [It] aims to scale up affordable long-term financing for #development by at least $500bn/year & simultaneously tackle the high cost of debt & rising risks of #debt distress and expanding contingency financing to countries in need."
"Changes in the #governance of financial institutions (#IFIs) to give full expression to the views of middle-income countries and reflect their true economic weight are long overdue."