Call for urgent action

Barbados Prime Minister, Mia Amor Mottley and Secretary General of the United Nations António Guterres have made a call for urgent action to transform the broken global financial system.

The two joined forces under the Bridgetown Initiative to address the immediate needs of countries facing debt distress and liquidity challenges, proposing a large-scale stimulus package to invest in the sustainable development goals.

The UN boss declared the international financial architecture is short-sighted, crisis-prone, and bears no relation to the economic reality of today.

His comments came during a meeting convened at the UN Headquarters in New York with Prime Minister Mottley.

Participants included experts from academia, civil society and national governments.

They considered concrete actions to advance immediate game-changing steps and longer-term reform.

Ms. Mottley told the meeting the world is running out of time to fix its international financial system and too many countries are being prevented from fighting the climate crisis and from creating decent opportunities for billions of their citizens.

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