“Many (nations) haven’t begun to course of the mandatory tax reforms to pay emergency bills, and right now they’re being evaluated with pre-pandemic standards by credit standing companies”, stated Ivan Duque, throughout his speech to the 76th UN Normal Meeting.
The Colombian Head of State referred to as for a consensus on a brand new monetary danger classification led by the Worldwide Financial Fund (IMF) and multilateral growth banks.
“In any other case, within the brief time period, given the demand for debt and a rise widespread price of capital, a debt disaster could also be precipitated bringing higher setbacks and world recessive results”, he stated.
The problem for local weather motion
Colombia has made a dedication to cut back its greenhouse gasoline emissions by 51 per cent by 2030, and to succeed in carbon neutrality by 2050, stated Mr. Duque.
In keeping with the President, the nation has already handed laws to spice up vitality transition via non-conventional renewable sources. The plan would put Colombia on the trail to zero deforestation by 2030, the creation of a circular economy, the place consumption doesn’t outstrip manufacturing, and shield these components of the Amazon basin inside the nation’s borders.
Mr. Duque stated nevertheless, that the restricted obtainable public financing following the pandemic, will turn into an impediment to fulfill these targets.
“I suggest to the world that, for a time period and with the assist of the IMF, we set up a rule by which all local weather motion spending and investments may be situated exterior the standard line of measurement of the fiscal deficit”, he highlighted.
He stated that his proposed rule, together with different aid measures and forgiveness of multilateral debt, ought to be utilized as quickly as potential and with out situations.
“Addressing pressing investments can not get caught up in political debates derived from conflicts over the allocation of sources. The motion is [needed] now, instantly, and we can not postpone it”, Mr. Duque emphasised.
IMF/Joaquin Sarmiento
Individuals put on face masks in Medellin, Colombia, to forestall the unfold of COVID-19.
The peace settlement
Addressing the Peace Settlement which ended a long time of civil battle, the President stated that Colombia was making progress in constructing “Peace with Legality”, his landmark public coverage since 2018.
“Not even the consequences of this merciless COVID-19 pandemic moved us away from the dedication to our nation to see the top of narco-terrorist violence”.
He added that there was a big development within the reincorporation technique of FARC ex-combatants underneath his authorities, noticed by the UN Verification Mission.
Nonetheless, he famous that the challenges are nonetheless giant, as a result of FARC insurgent dissidents, in addition to different prison teams resembling ELN that proceed to persistently assault “social and environmental human rights defenders”.
Full assertion in Spanish here.
