Transformation of international financial institutions needed

The high level Summit on a New Global Financing Pact opened in France with Barbados’ Prime Minister Mia Amor Mottley stressing the planet must be saved to make it livable.

France is hosting more than 300 high-level participants, heads of state and government, international organisations and representatives of civil society and the private sector for the two-day meeting.

The aim of the summit is to lay the groundwork for a renewed financial system suited to the common challenges of the 21st century, such as fighting inequalities and climate change and protecting biodiversity.

Ms. Mottley sees her presence at the summit as needed, noting she had to make a decision given what’s taking place with Tropical Storm Bret in the Caribbean on whether to leave or stay.

The Prime Minister, who has been promoting the Bridgetown Initiative on the world stage, says it’s important the world move to action.

Ms. Mottley says transformation and not reform of international financial institutions is needed.

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