On Thursday in Paris, French President Emmanuel Macron opened the New International Financial Pact Summit, where dozens of world leaders will speak for two days, including Cuba’s President Miguel Diaz-Canel and Brazil’s Luiz Inacio Lula da Silva. , among others.
In his inaugural address, the French president called for “very concrete solutions” to reform development financing now so that affected countries can face the consequences of climate change.
“No country should have to choose between reducing poverty and protecting the planet,” Macron said at the opening of a summit for a new global financial pact.
This is the first of the four principles that, according to Macron, will guide the two days’ discussions. The second, he added, is that every country must choose its own path with sovereignty because “there is no single model.”
The third is “imposing an impact on public finances,” because “more must be invested,” as well as “by mobilizing international institutions,” such as the World Bank and the International Monetary Fund.
Finally, he referred to the private sector, accusing it of being “not up to the task” of the global challenge. “We need more of the private sector,” he stressed, because “there’s a lot of money out there” and they should put themselves “at the service of the planet.”
Macron reiterated that reforming the financial system is necessary at a time when “inequalities are increasing and climate change is raising risks.”
He noted that the COVID-19 pandemic had “increased inequality” and said the conflict between Russia and Ukraine had “increased instability”.
Diaz-Canel is attending on behalf of the G-77 Plus China
Over the course of two days, this meeting in Paris brings together leaders from governments, international institutions and representatives of civil society to try to lay the foundations for a new development financing system that will allow the countries concerned to move out of poverty while at the same time facing the challenges of climate change.
Cuban President Miguel Diaz-Canel attends the secret meeting on behalf of the Group of 77 plus China, which is the broadest and most diverse advisory group in the multilateral field, comprising 134 member states, and the island is its president this year.
president @employeeIn addition to acting #Cuba In this global event, it is participating on behalf of the Group of 77 plus China, the broadest and most diverse advisory group in the multilateral field, comprising 134 member states, which the island is chairing this year. pic.twitter.com/DMyvHMDvSx
– Presidency of Cuba 🇨🇺 (PresidenciaCuba) June 22, 2023
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