The report, ‘Confronting the Debt Crisis: 11 Actions to Unlock Sustainable Financing’, was launched on Friday by UN Deputy Secretary-General Amina Mohammed.
Mohammed was joined by experts Mahmoud Mohieldin and Paolo Gentiloni, along with Rebeca Grynspan, Head of the UN Conference on Trade and Development (UNCTAD).
The report showed a “silent crisis” of surging debt service payments in low-income countries and charted path out of debt crisis threatening global development.
Practically, the debt services costs doubled in the last ten years.”
Prepared by the UN Secretary-General’s Expert Group on Debt, the report reinforced the commitments put forward in the Compromiso de Sevilla.
Compromiso de Sevilla is the outcome document of the Fourth International Conference on Financing for Development – taking place next week.
The report outlines 11 actions that are both technically feasible and politically viable.
