Statement by Cuba on behalf of the G77+ China Group at the Summit for a New Global Financing Pact.

Paris, June 22. President Miguel Díaz Canel, representing the G77+China said: “Our peoples neither can nor should continue being the lab of colonial formulas and renewed forms of domination that use the debt, the current international financial architecture, and unilateral coercive measures to perpetuate underdevelopment and beef-up the coffers of a few at the expense of the South.  A new and more just international order is the utmost urgency.”

He added: “As we advance into the twenty first century, the fact that the majority of the nations in the planet are forced to continue to abide by the obsolete institutions inherited from the Cold War and Bretton Woods, which are far off from the current international configuration and were conceived to profit from the reserves of the South, perpetuate imbalances and apply circumstantial formulas to replicate a modern colonialism scheme, is unacceptable.”

At the end he said: “Let us not ignore the warnings; let us not underestimate the urgencies. Let us take action with a sense of an endangered species.  Let us act with a sense of humanity.”

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