Addis Ababa, July 22, 2024.- The First Session of the Preparatory Committee for the Fourth International Conference on Financing for Development began today in Addis Ababa, Ethiopia.
The opening remarks, delivered by Ethiopia's Minister of Foreign Affairs, Ambassador Taye Atske-Selassie, highlighted the importance of the conference to reflect on the progress of the Addis Ababa Action Agenda and the current financial challenges to achieving the Sustainable Development Goals (SDGs).
For his part, the Secretary-General of the United Nations (UN), Antonio Guterres, who made his speech through pre-recorded video, said that the Fourth Conference presents a unique opportunity to reform an international financial system that is obsolete, dysfunctional and unfair. Guterres stressed that this event opens the door for more leaders to adopt ambitious reforms to offer affordable long-term and large-scale financing.
The Deputy Minister of Foreign Affairs of Cuba, Ambassador Elio E. Rodríguez Perdomo, during his speech at the Inaugural Ministerial Panel, called for immediate actions to address the unsustainable foreign debt that drags most developing nations into a complex macroeconomic scenario.
The Cuban deputy minister advocated for the necessary political will to meet the accumulated needs of the countries of the South in terms of financing for development. He also highlighted Cuba's commitment to this process and the need to advance in a comprehensive reform of the international financial architecture.
The First Session of the Preparatory Committee for the Fourth International Conference on Financing for Development (FfD4) will run until 26 July 2024.
(EmbaCuba Etiopía)