{"disclaimer":"Transcripts available through this tool are created by using automatic speech recognition and are not official records nor official documents of the United Nations. Official records and official documents are available on the Official Document System of the United Nations.","url":"https://transcripts.un.org/en/asset/k1c/k1ctv4ig0z","llms":{"note":"Plain-text sibling of this page, compact for LLM context. For the full API guide (search, listing, URL grammar) see /llms.txt.","textUrl":"/en/asset/k1c/k1ctv4ig0z.txt","guide":"/llms.txt"},"video":{"id":"k1c/k1ctv4ig0z","kaltura_id":"1_ctv4ig0z","title":"(Part 2) Fourth Preparatory Committee for the FFD4 (4th PrepCom)","clean_title":"(Part 2) Fourth Preparatory Committee for the FFD4 (4th PrepCom)","url":"https://webtv.un.org/en/asset/k1c/k1ctv4ig0z","date":"2025-04-30T00:00:00.000Z","scheduled_time":"2025-04-30T19:00:00.000Z","status":"finished","duration":"02:56:04","category":"Economic and Social Council","body":"Economic and Social Council","event_code":null,"event_type":null,"session_number":null,"pv_symbol":null,"pv_part":null,"slug":"asset/k1c/k1ctv4ig0z"},"metadata":{"summary":"The Fourth Preparatory Committee (4th PrepCom) Session for the Fourth International Conference on Financing for Development (FFD4) will be held from 30 April to 1 May 2025","description":"The Fourth Preparatory Committee (4th PrepCom) Session for the Fourth International Conference on Financing for Development (FFD4) will bring together heads of state and government, ministers and high-level government officials as well as senior officials of international organizations. Civil society organizations, the business sector and local authorities will also be represented.","categories":["Meetings & Events","Economic and Social Council"],"geographic_subject":[],"subject_topical":["FINANCE","FINANCING","DEVELOPMENT FINANCE","SUSTAINABLE DEVELOPMENT GOALS","2030 AGENDA"],"corporate_name":["ECONOMIC AND SOCIAL COUNCIL - ECOSOC"],"speaker_affiliation":[],"related_documents":[{"title":"4th PrepCom + FFD Forum 2025 website","url":"https://financing.desa.un.org/preparatory-process-ffd4/first-prepcom"},{"title":"FFD4 website","url":"https://financing.desa.un.org/ffd4"}]},"transcript":{"transcript_id":"azure-llm-speech-65f2e339-ba35-4777-b438-53c2b7cd9131","language":"en","data":[{"statement_number":1,"start":4.19,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=5","paragraphs":[{"sentences":[{"text":"Dear friends, should we find our seats and get started, because, as usual, time is of the essence.","start":4.19,"end":11.39,"topics":[],"words":[{"text":"Dear","start":4.19,"end":4.43},{"text":"friends,","start":4.43,"end":4.99},{"text":"should","start":4.99,"end":5.31},{"text":"we","start":5.31,"end":5.63},{"text":"find","start":5.63,"end":5.95},{"text":"our","start":5.95,"end":6.11},{"text":"seats","start":6.11,"end":6.63},{"text":"and","start":6.63,"end":7.35},{"text":"get","start":8.03,"end":8.35},{"text":"started,","start":8.35,"end":8.99},{"text":"because,","start":8.99,"end":9.47},{"text":"as","start":9.47,"end":9.55},{"text":"usual,","start":9.55,"end":10.03},{"text":"time","start":10.03,"end":10.31},{"text":"is","start":10.31,"end":10.43},{"text":"of","start":10.43,"end":10.67},{"text":"the","start":10.67,"end":10.79},{"text":"essence.","start":10.79,"end":11.39}]},{"text":"Excellencies, distinguished delegates, I call to order the first informal meeting of the FFD4 Preparatory Committee at its first session.","start":13.31,"end":25.47,"topics":[],"words":[{"text":"Excellencies,","start":13.31,"end":14.83},{"text":"distinguished","start":14.83,"end":15.87},{"text":"delegates,","start":15.87,"end":16.75},{"text":"I","start":16.83,"end":17.15},{"text":"call","start":17.15,"end":17.55},{"text":"to","start":17.55,"end":17.87},{"text":"order","start":17.91,"end":18.27},{"text":"the","start":18.27,"end":18.43},{"text":"first","start":18.43,"end":18.99},{"text":"informal","start":18.99,"end":19.71},{"text":"meeting","start":19.71,"end":20.27},{"text":"of","start":20.67,"end":20.99},{"text":"the","start":20.99,"end":21.19},{"text":"FFD4","start":21.23,"end":22.19},{"text":"Preparatory","start":22.19,"end":22.91},{"text":"Committee","start":22.91,"end":23.55},{"text":"at","start":23.63,"end":23.87},{"text":"its","start":23.87,"end":24.27},{"text":"first","start":24.27,"end":24.51},{"text":"session.","start":24.51,"end":25.47}]},{"text":"Welcome to this informal meeting, which will provide an opportunity for expert technical discussions on critical issues under discussion in the draft outcome document of the conference.","start":28.11,"end":42.91,"topics":[],"words":[{"text":"Welcome","start":28.11,"end":28.91},{"text":"to","start":28.91,"end":29.11},{"text":"this","start":29.11,"end":29.55},{"text":"informal","start":29.55,"end":30.11},{"text":"meeting,","start":30.11,"end":30.67},{"text":"which","start":30.87,"end":31.23},{"text":"will","start":31.23,"end":31.47},{"text":"provide","start":31.47,"end":32.11},{"text":"an","start":32.27,"end":32.47},{"text":"opportunity","start":32.47,"end":33.55},{"text":"for","start":33.55,"end":34.03},{"text":"expert","start":34.11,"end":35.19},{"text":"technical","start":35.19,"end":35.71},{"text":"discussions","start":35.71,"end":36.51},{"text":"on","start":36.51,"end":36.75},{"text":"critical","start":36.75,"end":37.39},{"text":"issues","start":37.39,"end":38.11},{"text":"under","start":38.51,"end":38.83},{"text":"discussion","start":38.83,"end":39.63},{"text":"in","start":39.79,"end":40.03},{"text":"the","start":40.03,"end":40.11},{"text":"draft","start":40.11,"end":40.67},{"text":"outcome","start":40.67,"end":40.99},{"text":"document","start":40.99,"end":41.71},{"text":"of","start":41.79,"end":42.03},{"text":"the","start":42.03,"end":42.15},{"text":"conference.","start":42.15,"end":42.91}]},{"text":"This afternoon, we will have three panel discussions.","start":43.79,"end":47.47,"topics":[],"words":[{"text":"This","start":43.79,"end":44.11},{"text":"afternoon,","start":44.15,"end":44.83},{"text":"we","start":44.83,"end":45.03},{"text":"will","start":45.03,"end":45.23},{"text":"have","start":45.23,"end":45.47},{"text":"three","start":45.47,"end":46.03},{"text":"panel","start":46.11,"end":46.67},{"text":"discussions.","start":46.75,"end":47.47}]},{"text":"The first will be on the international financial architecture and systemic issues.","start":47.95,"end":54.75,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. This included making the system fairer, more transparent, more responsive, and better aligned with sustainable development."}],"words":[{"text":"The","start":47.95,"end":48.15},{"text":"first","start":48.15,"end":48.75},{"text":"will","start":49.15,"end":49.39},{"text":"be","start":49.39,"end":49.71},{"text":"on","start":49.71,"end":49.95},{"text":"the","start":50.03,"end":50.15},{"text":"international","start":50.15,"end":51.23},{"text":"financial","start":51.23,"end":51.87},{"text":"architecture","start":51.87,"end":52.63},{"text":"and","start":53.07,"end":53.35},{"text":"systemic","start":53.35,"end":54.03},{"text":"issues.","start":54.03,"end":54.75}]},{"text":"The second one will be on debt and the cost of borrowing, and the last one on science, technology, innovation, and capacity building.","start":55.27,"end":65.11,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."},{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."}],"words":[{"text":"The","start":55.27,"end":55.31},{"text":"second","start":55.31,"end":55.75},{"text":"one","start":55.75,"end":56.07},{"text":"will","start":56.07,"end":56.31},{"text":"be","start":56.31,"end":56.55},{"text":"on","start":56.55,"end":56.71},{"text":"debt","start":56.71,"end":57.27},{"text":"and","start":57.35,"end":57.55},{"text":"the","start":57.55,"end":57.67},{"text":"cost","start":57.67,"end":58.27},{"text":"of","start":58.27,"end":58.47},{"text":"borrowing,","start":58.47,"end":59.19},{"text":"and","start":59.35,"end":59.63},{"text":"the","start":59.63,"end":59.75},{"text":"last","start":59.75,"end":60.23},{"text":"one","start":60.23,"end":60.63},{"text":"on","start":60.63,"end":60.87},{"text":"science,","start":60.87,"end":61.35},{"text":"technology,","start":61.35,"end":62.31},{"text":"innovation,","start":62.31,"end":63.11},{"text":"and","start":63.43,"end":63.83},{"text":"capacity","start":63.83,"end":64.55},{"text":"building.","start":64.55,"end":65.11}]},{"text":"So dear friends, on behalf of my fellow co-facilitators, it is my pleasure to moderate this panel together with Ambassador Milambo of Zambia on the discussion on the international financial architecture and systemic issues.","start":66.63,"end":84.47,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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This included making the system fairer, more transparent, more responsive, and better aligned with sustainable development."}],"words":[{"text":"Supporting","start":85.39,"end":86.11},{"text":"reform","start":86.11,"end":86.75},{"text":"of","start":86.83,"end":87.03},{"text":"the","start":87.03,"end":87.11},{"text":"international","start":87.11,"end":88.19},{"text":"financial","start":88.19,"end":88.79},{"text":"architecture,","start":88.79,"end":89.55},{"text":"which","start":89.91,"end":90.19},{"text":"is","start":90.19,"end":90.43},{"text":"the","start":90.43,"end":90.63},{"text":"set","start":90.63,"end":90.99},{"text":"of","start":91.03,"end":91.23},{"text":"international","start":91.95,"end":93.07},{"text":"financial","start":93.95,"end":94.59},{"text":"frameworks,","start":94.59,"end":95.47},{"text":"rules,","start":95.55,"end":96.27},{"text":"institutions","start":96.43,"end":97.55},{"text":"and","start":97.55,"end":97.79},{"text":"markets","start":97.79,"end":98.51},{"text":"that","start":98.51,"end":98.75},{"text":"safeguard","start":98.75,"end":99.63},{"text":"the","start":99.63,"end":99.79},{"text":"stability","start":99.79,"end":100.67},{"text":"and","start":100.99,"end":101.23},{"text":"functions","start":101.23,"end":101.87},{"text":"of","start":101.87,"end":102.03},{"text":"the","start":102.03,"end":102.11},{"text":"global","start":102.11,"end":102.51},{"text":"monetary","start":102.51,"end":103.19},{"text":"and","start":103.19,"end":103.31},{"text":"financial","start":103.31,"end":103.87},{"text":"systems,","start":103.87,"end":104.67},{"text":"is","start":105.47,"end":105.91},{"text":"an","start":105.91,"end":106.07},{"text":"explicit","start":106.07,"end":106.83},{"text":"mandate","start":106.83,"end":107.63},{"text":"for","start":107.79,"end":108.03},{"text":"FFD4.","start":108.03,"end":108.91}]},{"text":"Many such reforms have been undertaken since 2020 in response to the series of global shocks and crises, but they have not kept pace with rising needs, changes in the global geopolitical environment and new challenges in the financial system.","start":109.99,"end":130.79,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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This included making the system fairer, more transparent, more responsive, and better aligned with sustainable development."}],"words":[{"text":"The","start":131.91,"end":132.07},{"text":"first","start":132.07,"end":132.59},{"text":"draft","start":132.59,"end":133.11},{"text":"of","start":133.11,"end":133.27},{"text":"the","start":133.27,"end":133.39},{"text":"outcome","start":133.39,"end":133.83},{"text":"document","start":133.83,"end":134.39},{"text":"puts","start":134.39,"end":134.71},{"text":"forward","start":134.71,"end":135.27},{"text":"a","start":135.27,"end":135.35},{"text":"set","start":135.35,"end":135.67},{"text":"of","start":135.67,"end":135.83},{"text":"proposals","start":135.83,"end":136.79},{"text":"for","start":136.95,"end":137.27},{"text":"IFA","start":137.27,"end":137.75},{"text":"reforms,","start":137.75,"end":138.47},{"text":"building","start":138.83,"end":139.47},{"text":"on","start":139.55,"end":139.83},{"text":"the","start":139.83,"end":139.95},{"text":"pact","start":139.95,"end":140.35},{"text":"for","start":140.35,"end":140.59},{"text":"the","start":140.59,"end":140.67},{"text":"future.","start":140.67,"end":141.23}]},{"text":"It addresses global governance and contains actions to increase the voice and representation of developing countries in the governance of the international financial institutions in order to ensure a fair, transparent and responsive system that adapts to country-specific needs.","start":142.03,"end":161.95,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. 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you very much, Ambassador Merete.","start":348.95,"end":351.99,"topics":[],"words":[{"text":"Thank","start":348.95,"end":349.19},{"text":"you","start":349.19,"end":349.27},{"text":"very","start":349.27,"end":349.51},{"text":"much,","start":349.51,"end":349.99},{"text":"Ambassador","start":349.99,"end":350.79},{"text":"Merete.","start":351.51,"end":351.99}]},{"text":"And good afternoon to you all.","start":352.39,"end":353.67,"topics":[],"words":[{"text":"And","start":352.39,"end":352.63},{"text":"good","start":352.63,"end":352.75},{"text":"afternoon","start":352.75,"end":353.11},{"text":"to","start":353.11,"end":353.23},{"text":"you","start":353.23,"end":353.43},{"text":"all.","start":353.43,"end":353.67}]},{"text":"I think we have a very exciting discussion coming up.","start":353.75,"end":356.23,"topics":[],"words":[{"text":"I","start":353.75,"end":353.83},{"text":"think","start":353.83,"end":354.03},{"text":"we","start":354.03,"end":354.11},{"text":"have","start":354.11,"end":354.23},{"text":"a","start":354.23,"end":354.27},{"text":"very","start":354.27,"end":354.63},{"text":"exciting","start":354.71,"end":355.27},{"text":"discussion","start":355.27,"end":355.83},{"text":"coming","start":355.83,"end":356.11},{"text":"up.","start":356.11,"end":356.23}]},{"text":"So now we shall hear the presentations from our distinguished 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I invite you to speak specifically to the first draft outcome document and how you want to strengthen the actions of a strong outcome in 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now give the floor to our first presenter from the National Treasury of South Africa, Deborah Lee 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had a lot of discussions over the last few days about the great investment opportunities that exist in developing countries, but access to finance necessary to turn these opportunities into reality is constrained by a host of challenges, including limited investor confidence and high perceived investment risks, lack of project pipelines, and other domestic factors.","start":404.91,"end":430.99,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Through","start":546.99,"end":547.19},{"text":"this","start":547.19,"end":547.43},{"text":"instrument,","start":547.43,"end":547.95},{"text":"the","start":547.95,"end":548.03},{"text":"African","start":548.03,"end":548.39},{"text":"Development","start":548.39,"end":548.87},{"text":"Bank","start":548.87,"end":549.23},{"text":"can","start":549.23,"end":549.43},{"text":"multiply","start":549.43,"end":549.99},{"text":"SDRs","start":549.99,"end":550.71},{"text":"that","start":550.71,"end":550.91},{"text":"it","start":550.91,"end":551.03},{"text":"receives","start":551.03,"end":551.43},{"text":"by","start":551.43,"end":551.63},{"text":"a","start":551.63,"end":551.67},{"text":"factor","start":551.67,"end":552.03},{"text":"of","start":552.03,"end":552.15},{"text":"three","start":552.15,"end":552.39},{"text":"to","start":552.39,"end":552.55},{"text":"four,","start":552.55,"end":552.95},{"text":"transforming","start":553.35,"end":553.99},{"text":"them","start":553.99,"end":554.23},{"text":"from","start":554.23,"end":554.43},{"text":"a","start":554.43,"end":554.47},{"text":"static","start":554.47,"end":555.03},{"text":"foreign","start":555.03,"end":555.43},{"text":"reserve","start":555.43,"end":555.75},{"text":"asset","start":555.75,"end":556.39},{"text":"into","start":556.55,"end":556.87},{"text":"lending","start":556.87,"end":557.19},{"text":"instruments.","start":557.19,"end":557.91}]},{"text":"For instance, $5 billion in ACRs can translate to between 15 and 20 billion of new financing for the African continent.","start":558.55,"end":568.75,"topics":[{"key":"sdrs-safety-net","label":"SDRs and the Global Financial Safety Net","description":"A major topic was how to use Special Drawing Rights more effectively and how to strengthen the global financial safety net with the IMF at its center. Speakers discussed SDR issuance, voluntary rechanneling, IMF facilities, swap lines, and regional financial arrangements."},{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"We","start":569.79,"end":570.03},{"text":"see","start":570.03,"end":570.23},{"text":"a","start":570.23,"end":570.27},{"text":"major","start":570.27,"end":570.67},{"text":"outcome","start":570.67,"end":571.39},{"text":"of","start":571.39,"end":571.59},{"text":"SEVIB","start":571.59,"end":572.31},{"text":"endorsing","start":572.71,"end":573.55},{"text":"as","start":573.55,"end":573.79},{"text":"endorsing","start":573.95,"end":574.63},{"text":"the","start":574.63,"end":574.91},{"text":"hybrid","start":575.23,"end":575.63},{"text":"capital","start":575.63,"end":576.03},{"text":"model","start":576.03,"end":576.43},{"text":"at","start":576.43,"end":576.71},{"text":"FF4.","start":576.71,"end":577.47}]},{"text":"And this would send a strong signal of political will and ambition to scale up development finance using innovative tools.","start":577.95,"end":585.15,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. 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bodies, including the Financial Stability Board and the Basel Committee, play a central role in the development of global financial regulations and policies aimed at enhancing financial stability.","start":585.79,"end":601.31,"topics":[],"words":[{"text":"Moving","start":585.79,"end":586.19},{"text":"on","start":586.19,"end":586.35},{"text":"to","start":586.35,"end":586.47},{"text":"international","start":586.47,"end":587.07},{"text":"standard","start":587.07,"end":587.47},{"text":"setting","start":587.47,"end":587.71},{"text":"bodies,","start":587.71,"end":588.27},{"text":"These","start":588.91,"end":589.23},{"text":"bodies,","start":589.23,"end":589.71},{"text":"including","start":589.71,"end":590.27},{"text":"the","start":590.27,"end":590.43},{"text":"Financial","start":590.43,"end":591.15},{"text":"Stability","start":591.15,"end":591.79},{"text":"Board","start":591.79,"end":592.19},{"text":"and","start":592.19,"end":592.31},{"text":"the","start":592.31,"end":592.39},{"text":"Basel","start":592.39,"end":592.75},{"text":"Committee,","start":592.75,"end":593.15},{"text":"play","start":593.15,"end":593.39},{"text":"a","start":593.39,"end":593.43},{"text":"central","start":593.43,"end":593.87},{"text":"role","start":593.87,"end":594.27},{"text":"in","start":594.59,"end":594.71},{"text":"the","start":594.71,"end":594.79},{"text":"development","start":594.79,"end":595.39},{"text":"of","start":595.39,"end":595.55},{"text":"global","start":595.55,"end":595.95},{"text":"financial","start":595.95,"end":596.59},{"text":"regulations","start":596.67,"end":597.43},{"text":"and","start":597.43,"end":597.55},{"text":"policies","start":597.55,"end":598.19},{"text":"aimed","start":598.51,"end":598.83},{"text":"at","start":598.83,"end":599.03},{"text":"enhancing","start":599.03,"end":599.87},{"text":"financial","start":600.03,"end":600.55},{"text":"stability.","start":600.55,"end":601.31}]},{"text":"Their independence is fundamental to many aspects of their work.","start":601.71,"end":605.07,"topics":[],"words":[{"text":"Their","start":601.71,"end":601.95},{"text":"independence","start":601.95,"end":602.67},{"text":"is","start":602.67,"end":602.75},{"text":"fundamental","start":602.75,"end":603.55},{"text":"to","start":603.55,"end":603.63},{"text":"many","start":603.63,"end":603.95},{"text":"aspects","start":603.95,"end":604.39},{"text":"of","start":604.39,"end":604.51},{"text":"their","start":604.51,"end":604.67},{"text":"work.","start":604.67,"end":605.07}]},{"text":"This includes that no single country or interest group dominates the agenda or outcomes, and this fosters broad-based international buy-in.","start":605.39,"end":613.63,"topics":[],"words":[{"text":"This","start":605.39,"end":605.63},{"text":"includes","start":605.63,"end":606.27},{"text":"that","start":606.43,"end":606.59},{"text":"no","start":606.59,"end":606.87},{"text":"single","start":606.87,"end":607.15},{"text":"country","start":607.15,"end":607.63},{"text":"or","start":607.63,"end":607.79},{"text":"interest","start":607.79,"end":608.15},{"text":"group","start":608.15,"end":608.43},{"text":"dominates","start":608.51,"end":609.15},{"text":"the","start":609.15,"end":609.27},{"text":"agenda","start":609.27,"end":609.71},{"text":"or","start":609.71,"end":609.95},{"text":"outcomes,","start":609.95,"end":610.59},{"text":"and","start":610.83,"end":611.03},{"text":"this","start":611.03,"end":611.23},{"text":"fosters","start":611.23,"end":611.63},{"text":"broad-based","start":611.63,"end":612.35},{"text":"international","start":612.35,"end":613.03},{"text":"buy-in.","start":613.03,"end":613.63}]},{"text":"This independence helps ensure that regulatory decisions are not driven by short-term political or commercial interests, but by long-term financial stability goals.","start":614.03,"end":623.55,"topics":[],"words":[{"text":"This","start":614.03,"end":614.27},{"text":"independence","start":614.27,"end":614.91},{"text":"helps","start":614.91,"end":615.23},{"text":"ensure","start":615.27,"end":615.63},{"text":"that","start":615.63,"end":615.87},{"text":"regulatory","start":615.87,"end":616.55},{"text":"decisions","start":616.55,"end":617.07},{"text":"are","start":617.07,"end":617.19},{"text":"not","start":617.19,"end":617.47},{"text":"driven","start":617.47,"end":617.95},{"text":"by","start":618.03,"end":618.27},{"text":"short-term","start":618.27,"end":618.75},{"text":"political","start":618.75,"end":619.23},{"text":"or","start":619.23,"end":619.39},{"text":"commercial","start":619.39,"end":619.87},{"text":"interests,","start":619.87,"end":620.59},{"text":"but","start":620.91,"end":621.07},{"text":"by","start":621.07,"end":621.23},{"text":"long-term","start":621.23,"end":621.87},{"text":"financial","start":621.87,"end":622.43},{"text":"stability","start":622.43,"end":622.99},{"text":"goals.","start":622.99,"end":623.55}]},{"text":"This results in credible, rigorous standards that markets trust and regulators can implement with confidence.","start":624.19,"end":630.75,"topics":[],"words":[{"text":"This","start":624.19,"end":624.43},{"text":"results","start":624.43,"end":624.83},{"text":"in","start":624.83,"end":624.99},{"text":"credible,","start":624.99,"end":625.63},{"text":"rigorous","start":625.63,"end":626.19},{"text":"standards","start":626.19,"end":626.83},{"text":"that","start":626.99,"end":627.23},{"text":"markets","start":627.23,"end":627.71},{"text":"trust","start":627.71,"end":628.15},{"text":"and","start":628.47,"end":628.63},{"text":"regulators","start":628.63,"end":629.23},{"text":"can","start":629.23,"end":629.39},{"text":"implement","start":629.39,"end":629.87},{"text":"with","start":629.87,"end":629.99},{"text":"confidence.","start":629.99,"end":630.75}]},{"text":"Therefore, it is important that any recommendations made related to international standard-setting bodies are made within this 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the South African context, we have a dedicated law for credit rating agencies, which helps ensure that they are well regulated and accountable.","start":640.15,"end":654.71,"topics":[{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. 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floor is yours.","start":847.15,"end":848.71,"topics":[],"words":[{"text":"So","start":847.15,"end":847.39},{"text":"William","start":847.39,"end":847.63},{"text":"Roux,","start":847.63,"end":847.87},{"text":"the","start":848.11,"end":848.27},{"text":"floor","start":848.27,"end":848.47},{"text":"is","start":848.47,"end":848.55},{"text":"yours.","start":848.55,"end":848.71}]},{"text":"Same questions.","start":848.71,"end":849.27,"topics":[],"words":[{"text":"Same","start":848.71,"end":848.87},{"text":"questions.","start":848.87,"end":849.27}]}]}],"speaker":{"name":"Ambassador Milambo","affiliation":"ZMB","affiliation_full":"Zambia","group":null,"function":"Co-facilitator"}},{"statement_number":5,"start":852.31,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=853","paragraphs":[{"sentences":[{"text":"Thank you very 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sure that Remy Riou will develop that in the context of the Finance in Common network.","start":896.31,"end":903.27,"topics":[],"words":[{"text":"I'm","start":896.31,"end":896.55},{"text":"sure","start":896.55,"end":896.79},{"text":"that","start":896.79,"end":897.11},{"text":"Remy","start":897.11,"end":897.99},{"text":"Riou","start":898.39,"end":898.63},{"text":"will","start":898.95,"end":899.15},{"text":"develop","start":899.15,"end":899.51},{"text":"that","start":899.51,"end":899.91},{"text":"in","start":899.91,"end":900.51},{"text":"the","start":900.51,"end":900.63},{"text":"context","start":900.63,"end":901.11},{"text":"of","start":901.11,"end":901.19},{"text":"the","start":901.19,"end":901.35},{"text":"Finance","start":901.35,"end":901.75},{"text":"in","start":901.75,"end":901.91},{"text":"Common","start":901.91,"end":902.39},{"text":"network.","start":902.47,"end":903.27}]},{"text":"They need also to implement innovative tools like a risk sharing instrument, and it's important to 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IMF, the first question you raise is about SDRs.","start":968.75,"end":973.51,"topics":[],"words":[{"text":"Regarding","start":968.75,"end":969.19},{"text":"IMF,","start":969.19,"end":969.99},{"text":"the","start":970.07,"end":970.23},{"text":"first","start":970.39,"end":970.87},{"text":"question","start":970.95,"end":971.35},{"text":"you","start":971.35,"end":971.51},{"text":"raise","start":971.51,"end":971.83},{"text":"is","start":971.83,"end":971.91},{"text":"about","start":971.91,"end":972.47},{"text":"SDRs.","start":972.71,"end":973.51}]},{"text":"We have seen in the context of the COVID crisis that there are different ways to support vulnerable countries in the context of a pandemic, a global 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has also to be active in terms of surveillance, financing and technical assistance.","start":1129.35,"end":1134.95,"topics":[],"words":[{"text":"IMF","start":1129.35,"end":1129.75},{"text":"has","start":1129.75,"end":1129.99},{"text":"also","start":1129.99,"end":1130.39},{"text":"to","start":1130.39,"end":1130.55},{"text":"be","start":1130.55,"end":1130.67},{"text":"active","start":1130.67,"end":1131.03},{"text":"in","start":1131.03,"end":1131.11},{"text":"terms","start":1131.11,"end":1131.39},{"text":"of","start":1131.39,"end":1131.51},{"text":"surveillance,","start":1131.51,"end":1132.31},{"text":"financing","start":1132.55,"end":1133.43},{"text":"and","start":1133.43,"end":1133.75},{"text":"technical","start":1133.75,"end":1134.31},{"text":"assistance.","start":1134.31,"end":1134.95}]},{"text":"I would like to stress the importance of precautionary facilities which could complement a successful IMF supported 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that regard, I saw in the text that draft that there is a specific sentence on asset management 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sure that I have understood why it is pointed out like that, but I don't know if it is needed to go into these details and why it is specified like 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credit rating agencies, just can support fully what South Africa has said in order to save 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I think that was a call to action.","start":1366.83,"end":1368.79,"topics":[],"words":[{"text":"And","start":1366.83,"end":1367.11},{"text":"I","start":1367.19,"end":1367.23},{"text":"think","start":1367.23,"end":1367.43},{"text":"that","start":1367.51,"end":1367.71},{"text":"was","start":1367.71,"end":1367.87},{"text":"a","start":1367.87,"end":1367.91},{"text":"call","start":1367.91,"end":1368.15},{"text":"to","start":1368.15,"end":1368.27},{"text":"action.","start":1368.27,"end":1368.79}]},{"text":"The other countries that were able to come through are in this room and they hear you.","start":1369.19,"end":1372.43,"topics":[],"words":[{"text":"The","start":1369.19,"end":1369.31},{"text":"other","start":1369.35,"end":1369.59},{"text":"countries","start":1369.59,"end":1369.91},{"text":"that","start":1369.91,"end":1370.15},{"text":"were","start":1370.15,"end":1370.27},{"text":"able","start":1370.27,"end":1370.47},{"text":"to","start":1370.47,"end":1370.55},{"text":"come","start":1370.55,"end":1370.79},{"text":"through","start":1370.79,"end":1371.15},{"text":"are","start":1371.31,"end":1371.39},{"text":"in","start":1371.43,"end":1371.51},{"text":"this","start":1371.51,"end":1371.67},{"text":"room","start":1371.67,"end":1371.91},{"text":"and","start":1371.91,"end":1372.03},{"text":"they","start":1372.03,"end":1372.11},{"text":"hear","start":1372.11,"end":1372.31},{"text":"you.","start":1372.31,"end":1372.43}]},{"text":"So we look forward to countries stepping forward.","start":1373.03,"end":1375.99,"topics":[],"words":[{"text":"So","start":1373.03,"end":1373.51},{"text":"we","start":1373.99,"end":1374.19},{"text":"look","start":1374.19,"end":1374.31},{"text":"forward","start":1374.31,"end":1374.63},{"text":"to","start":1374.63,"end":1375.03},{"text":"countries","start":1375.03,"end":1375.39},{"text":"stepping","start":1375.39,"end":1375.67},{"text":"forward.","start":1375.67,"end":1375.99}]},{"text":"Now we turn to our third presentation.","start":1376.47,"end":1378.55,"topics":[],"words":[{"text":"Now","start":1376.47,"end":1376.63},{"text":"we","start":1376.63,"end":1376.79},{"text":"turn","start":1376.79,"end":1377.03},{"text":"to","start":1377.03,"end":1377.19},{"text":"our","start":1377.19,"end":1377.35},{"text":"third","start":1377.35,"end":1377.59},{"text":"presentation.","start":1377.59,"end":1378.55}]},{"text":"by Ms. Geetu Joshi, Department of Economic Affairs, Ministry of Finance of 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Milambo","affiliation":"ZMB","affiliation_full":"Zambia","group":null,"function":"Co-facilitator"}},{"statement_number":7,"start":1391.11,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=1392","paragraphs":[{"sentences":[{"text":"Thank you, Ambassador.","start":1391.11,"end":1392.23,"topics":[],"words":[{"text":"Thank","start":1391.11,"end":1391.39},{"text":"you,","start":1391.43,"end":1391.55},{"text":"Ambassador.","start":1391.55,"end":1392.23}]},{"text":"I'm pleased to offer India's views on strengthening the global financial architecture to better support sustainable development and financial stability.","start":1392.87,"end":1401.59,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"In","start":1534.03,"end":1534.19},{"text":"fact,","start":1534.19,"end":1534.51},{"text":"it","start":1534.51,"end":1534.59},{"text":"is","start":1534.59,"end":1534.75},{"text":"because","start":1534.75,"end":1535.11},{"text":"of","start":1535.11,"end":1535.19},{"text":"the","start":1535.19,"end":1535.31},{"text":"constrained","start":1535.31,"end":1536.11},{"text":"and","start":1536.11,"end":1536.35},{"text":"costly","start":1536.35,"end":1536.83},{"text":"financing","start":1536.83,"end":1537.71},{"text":"and","start":1537.71,"end":1538.03},{"text":"mounting","start":1538.03,"end":1538.43},{"text":"development","start":1538.43,"end":1539.11},{"text":"needs","start":1539.11,"end":1539.39},{"text":"that","start":1539.39,"end":1539.63},{"text":"countries","start":1539.63,"end":1540.11},{"text":"fall","start":1540.11,"end":1540.35},{"text":"into","start":1540.35,"end":1540.59},{"text":"debt","start":1540.59,"end":1540.87},{"text":"traps.","start":1540.87,"end":1541.39}]},{"text":"Therefore, my third point is on credit rating agencies.","start":1542.19,"end":1545.87,"topics":[{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. They proposed stronger oversight, improved methodologies, structured dialogue, and even possible public alternatives under multilateral frameworks."}],"words":[{"text":"Therefore,","start":1542.19,"end":1542.59},{"text":"my","start":1542.59,"end":1542.75},{"text":"third","start":1542.75,"end":1543.07},{"text":"point","start":1543.07,"end":1543.47},{"text":"is","start":1543.47,"end":1543.87},{"text":"on","start":1544.19,"end":1544.43},{"text":"credit","start":1544.43,"end":1544.75},{"text":"rating","start":1544.75,"end":1545.07},{"text":"agencies.","start":1545.07,"end":1545.87}]},{"text":"Sovereign ratings remain a significant barrier for developing countries in accessing affordable capital.","start":1547.07,"end":1553.23,"topics":[{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. 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Joshi.","start":1639.99,"end":1641.91,"topics":[],"words":[{"text":"Thank","start":1639.99,"end":1640.19},{"text":"you","start":1640.19,"end":1640.27},{"text":"very","start":1640.27,"end":1640.47},{"text":"much,","start":1640.47,"end":1640.63},{"text":"Ms.","start":1640.63,"end":1641.03},{"text":"Joshi.","start":1641.51,"end":1641.91}]},{"text":"We see very close alignments between our three presenters.","start":1642.39,"end":1645.27,"topics":[],"words":[{"text":"We","start":1642.39,"end":1642.51},{"text":"see","start":1642.51,"end":1642.71},{"text":"very","start":1642.71,"end":1642.87},{"text":"close","start":1642.87,"end":1643.15},{"text":"alignments","start":1643.15,"end":1643.59},{"text":"between","start":1643.59,"end":1643.91},{"text":"our","start":1643.91,"end":1643.99},{"text":"three","start":1643.99,"end":1644.39},{"text":"presenters.","start":1644.63,"end":1645.27}]},{"text":"And now we give the floor very quickly to the discussants to share their reflections on the guiding 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"The","start":1897.87,"end":1897.99},{"text":"second","start":1897.99,"end":1898.27},{"text":"is","start":1898.43,"end":1898.59},{"text":"that","start":1898.59,"end":1898.71},{"text":"conditionality","start":1898.71,"end":1899.87},{"text":"should","start":1900.43,"end":1900.71},{"text":"be","start":1900.71,"end":1900.91},{"text":"strictly","start":1900.91,"end":1901.43},{"text":"macroeconomic,","start":1901.43,"end":1902.51},{"text":"but","start":1904.75,"end":1905.23},{"text":"with","start":1905.31,"end":1905.55},{"text":"support","start":1905.63,"end":1906.15},{"text":"to","start":1906.15,"end":1906.59},{"text":"social","start":1907.39,"end":1907.87},{"text":"spending","start":1907.87,"end":1908.51},{"text":"during","start":1908.91,"end":1909.19},{"text":"crisis.","start":1909.19,"end":1909.79}]},{"text":"Third, that the IMF should create a swap facility as well as a fund to intervene in the bond markets of emerging and developing countries during crisis to try to replicate what the Fed and the European Central Banks have done during crisis, but the developing countries don't have the capacity to intervene that way.","start":1910.91,"end":1936.07,"topics":[{"key":"sdrs-safety-net","label":"SDRs and the Global Financial Safety Net","description":"A major topic was how to use Special Drawing Rights more effectively and how to strengthen the global financial safety net with the IMF at its center. 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The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"Fifth,","start":1981.19,"end":1981.59},{"text":"in","start":1981.67,"end":1981.91},{"text":"relation","start":1981.91,"end":1982.71},{"text":"to","start":1982.71,"end":1982.95},{"text":"the","start":1982.95,"end":1983.07},{"text":"governance","start":1983.35,"end":1983.99},{"text":"of","start":1983.99,"end":1984.11},{"text":"the","start":1984.11,"end":1984.19},{"text":"IMF,","start":1984.19,"end":1984.79},{"text":"the","start":1985.59,"end":1985.79},{"text":"IMF","start":1985.79,"end":1986.47},{"text":"quotas","start":1986.95,"end":1987.59},{"text":"have","start":1987.59,"end":1987.75},{"text":"to","start":1987.75,"end":1987.91},{"text":"be","start":1987.91,"end":1988.07},{"text":"increased","start":1988.07,"end":1988.71},{"text":"and","start":1988.71,"end":1988.91},{"text":"the","start":1988.91,"end":1988.99},{"text":"distribution","start":1988.99,"end":1989.83},{"text":"have","start":1989.83,"end":1989.99},{"text":"to","start":1989.99,"end":1990.19},{"text":"be","start":1990.19,"end":1990.31},{"text":"done","start":1990.31,"end":1990.63},{"text":"according","start":1991.11,"end":1991.55},{"text":"to","start":1991.55,"end":1991.75},{"text":"the","start":1991.75,"end":1991.87},{"text":"current","start":1992.23,"end":1992.87},{"text":"size","start":1993.83,"end":1994.31},{"text":"of","start":1994.39,"end":1994.51},{"text":"the","start":1994.55,"end":1994.67},{"text":"developing","start":1994.67,"end":1995.15},{"text":"countries.","start":1995.15,"end":1995.83}]},{"text":"The basic votes have to be enhanced, going back to the one-ninth that were in the Bretton Woods agreement, because they are essential for small and poor countries.","start":1997.63,"end":2008.51,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. 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a global institution, but also regional institutions in every part of the world.","start":2032.95,"end":2038.47,"topics":[],"words":[{"text":"So","start":2032.95,"end":2033.27},{"text":"a","start":2033.35,"end":2033.39},{"text":"global","start":2033.39,"end":2033.83},{"text":"institution,","start":2033.83,"end":2034.63},{"text":"but","start":2034.95,"end":2035.11},{"text":"also","start":2035.11,"end":2035.39},{"text":"regional","start":2035.39,"end":2035.83},{"text":"institutions","start":2035.83,"end":2036.55},{"text":"in","start":2036.55,"end":2036.79},{"text":"every","start":2036.87,"end":2037.27},{"text":"part","start":2037.27,"end":2037.67},{"text":"of","start":2037.75,"end":2037.83},{"text":"the","start":2037.83,"end":2037.99},{"text":"world.","start":2038.15,"end":2038.47}]},{"text":"Thank you.","start":2038.87,"end":2039.27,"topics":[],"words":[{"text":"Thank","start":2038.87,"end":2039.11},{"text":"you.","start":2039.11,"end":2039.27}]}]}],"speaker":{"name":"Jose Antonio Ocampo","affiliation":null,"affiliation_full":null,"group":null,"function":"Professor"}},{"statement_number":12,"start":2040.07,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=2041","paragraphs":[{"sentences":[{"text":"Thank you, Professor.","start":2040.07,"end":2040.95,"topics":[],"words":[{"text":"Thank","start":2040.07,"end":2040.31},{"text":"you,","start":2040.31,"end":2040.39},{"text":"Professor.","start":2040.39,"end":2040.95}]},{"text":"Most grateful to both our discussants for very rich comments 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ensure proper interpretation, delegations are asked to speak in a normal pace and to provide a written copy of statements to estatements@un.org, that's estatements@org, at least two hours before delivery.","start":2074.67,"end":2090.43,"topics":[],"words":[{"text":"To","start":2074.67,"end":2074.71},{"text":"ensure","start":2074.71,"end":2075.19},{"text":"proper","start":2075.19,"end":2075.87},{"text":"interpretation,","start":2075.87,"end":2077.03},{"text":"delegations","start":2077.03,"end":2077.83},{"text":"are","start":2077.83,"end":2077.95},{"text":"asked","start":2077.99,"end":2078.43},{"text":"to","start":2078.43,"end":2078.51},{"text":"speak","start":2078.55,"end":2079.03},{"text":"in","start":2079.11,"end":2079.23},{"text":"a","start":2079.23,"end":2079.27},{"text":"normal","start":2079.35,"end":2079.67},{"text":"pace","start":2079.67,"end":2080.15},{"text":"and","start":2080.47,"end":2080.67},{"text":"to","start":2080.67,"end":2080.75},{"text":"provide","start":2080.75,"end":2081.19},{"text":"a","start":2081.27,"end":2081.35},{"text":"written","start":2081.35,"end":2081.67},{"text":"copy","start":2081.67,"end":2082.07},{"text":"of","start":2082.07,"end":2082.23},{"text":"statements","start":2082.23,"end":2082.95},{"text":"to","start":2082.95,"end":2083.35},{"text":"estatements@un.org,","start":2083.55,"end":2085.67},{"text":"that's","start":2085.67,"end":2085.95},{"text":"estatements@org,","start":2086.19,"end":2087.55},{"text":"at","start":2088.51,"end":2088.59},{"text":"least","start":2088.59,"end":2088.91},{"text":"two","start":2088.91,"end":2089.11},{"text":"hours","start":2089.11,"end":2089.51},{"text":"before","start":2089.71,"end":2089.99},{"text":"delivery.","start":2089.99,"end":2090.43}]},{"text":"All right, it's already too late.","start":2090.83,"end":2092.55,"topics":[],"words":[{"text":"All","start":2090.83,"end":2090.91},{"text":"right,","start":2090.91,"end":2091.15},{"text":"it's","start":2091.51,"end":2091.83},{"text":"already","start":2091.83,"end":2092.11},{"text":"too","start":2092.15,"end":2092.31},{"text":"late.","start":2092.31,"end":2092.55}]},{"text":"Anyway, in order to keep track of time, we shall have the countdown that will help you 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speakers.","start":2099.03,"end":2103.43,"topics":[],"words":[{"text":"So","start":2099.03,"end":2099.43},{"text":"having","start":2099.51,"end":2099.75},{"text":"said","start":2099.75,"end":2099.95},{"text":"that","start":2099.95,"end":2100.15},{"text":"very","start":2100.15,"end":2100.39},{"text":"quickly,","start":2100.39,"end":2100.87},{"text":"I","start":2100.87,"end":2100.95},{"text":"have","start":2100.95,"end":2101.35},{"text":"already","start":2101.51,"end":2102.15},{"text":"seven","start":2102.31,"end":2102.79},{"text":"speakers.","start":2102.79,"end":2103.43}]},{"text":"Starting with Colombia on behalf of the G77, Colombia, then Honduras, Cuba, China.","start":2105.07,"end":2110.91,"topics":[],"words":[{"text":"Starting","start":2105.07,"end":2105.39},{"text":"with","start":2105.39,"end":2105.55},{"text":"Colombia","start":2105.63,"end":2106.31},{"text":"on","start":2106.31,"end":2106.43},{"text":"behalf","start":2106.43,"end":2106.83},{"text":"of","start":2106.87,"end":2107.15},{"text":"the","start":2107.55,"end":2107.67},{"text":"G77,","start":2107.71,"end":2108.67},{"text":"Colombia,","start":2108.67,"end":2109.07},{"text":"then","start":2109.15,"end":2109.39},{"text":"Honduras,","start":2109.39,"end":2110.03},{"text":"Cuba,","start":2110.11,"end":2110.43},{"text":"China.","start":2110.43,"end":2110.91}]}]}],"speaker":{"name":"Ambassador Milambo","affiliation":"ZMB","affiliation_full":"Zambia","group":null,"function":"Co-facilitator"}},{"statement_number":13,"start":2113.15,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=2114","paragraphs":[{"sentences":[{"text":"Thank you, co-chair.","start":2113.15,"end":2113.95,"topics":[],"words":[{"text":"Thank","start":2113.15,"end":2113.39},{"text":"you,","start":2113.39,"end":2113.47},{"text":"co-chair.","start":2113.47,"end":2113.95}]},{"text":"The G77 and China appreciates the convening of this panel.","start":2113.95,"end":2117.23,"topics":[],"words":[{"text":"The","start":2113.95,"end":2114.03},{"text":"G77","start":2114.03,"end":2114.71},{"text":"and","start":2114.71,"end":2114.87},{"text":"China","start":2114.87,"end":2115.27},{"text":"appreciates","start":2115.27,"end":2115.87},{"text":"the","start":2115.87,"end":2116.03},{"text":"convening","start":2116.03,"end":2116.43},{"text":"of","start":2116.43,"end":2116.59},{"text":"this","start":2116.59,"end":2116.75},{"text":"panel.","start":2116.75,"end":2117.23}]},{"text":"First of all, the group would like to reiterate that a necessary prerequisite to strengthen the global financial safety net is to ensure a fair and inclusive global economic governance where developing countries representation is enhanced along with their voting power in international financial institutions.","start":2117.47,"end":2132.19,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. 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Tanzania.","start":2237.27,"end":2243.51,"topics":[],"words":[{"text":"The","start":2237.27,"end":2237.39},{"text":"next","start":2237.39,"end":2237.83},{"text":"will","start":2237.83,"end":2238.15},{"text":"be","start":2238.15,"end":2238.47},{"text":"after","start":2238.79,"end":2239.03},{"text":"Colombia","start":2239.03,"end":2239.51},{"text":"is","start":2239.67,"end":2239.91},{"text":"Honduras,","start":2239.91,"end":2240.63},{"text":"Cuba,","start":2240.71,"end":2241.19},{"text":"China,","start":2241.19,"end":2241.75},{"text":"United","start":2242.15,"end":2242.55},{"text":"Republic","start":2242.55,"end":2242.99},{"text":"of","start":2242.99,"end":2243.11},{"text":"Tanzania.","start":2243.11,"end":2243.51}]},{"text":"So Honduras, the floor is 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to these new times of uncertainty.","start":2259.55,"end":2266.07,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout 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thank the distinguished representative of Honduras.","start":2350.39,"end":2353.03,"topics":[],"words":[{"text":"I","start":2350.39,"end":2350.47},{"text":"thank","start":2350.47,"end":2350.75},{"text":"the","start":2350.75,"end":2350.83},{"text":"distinguished","start":2350.83,"end":2351.35},{"text":"representative","start":2351.35,"end":2352.07},{"text":"of","start":2352.27,"end":2352.39},{"text":"Honduras.","start":2352.47,"end":2353.03}]},{"text":"I now give the floor to the distinguished representative of Cuba, who will be followed by the distinguished representative from China.","start":2353.43,"end":2359.11,"topics":[],"words":[{"text":"I","start":2353.43,"end":2353.51},{"text":"now","start":2353.51,"end":2353.67},{"text":"give","start":2353.67,"end":2353.83},{"text":"the","start":2353.83,"end":2353.95},{"text":"floor","start":2353.95,"end":2354.19},{"text":"to","start":2354.19,"end":2354.31},{"text":"the","start":2354.31,"end":2354.39},{"text":"distinguished","start":2354.39,"end":2354.87},{"text":"representative","start":2354.87,"end":2355.55},{"text":"of","start":2355.55,"end":2355.67},{"text":"Cuba,","start":2355.67,"end":2356.11},{"text":"who","start":2356.11,"end":2356.19},{"text":"will","start":2356.31,"end":2356.43},{"text":"be","start":2356.43,"end":2356.55},{"text":"followed","start":2356.55,"end":2356.79},{"text":"by","start":2356.79,"end":2356.95},{"text":"the","start":2356.95,"end":2357.07},{"text":"distinguished","start":2357.47,"end":2357.91},{"text":"representative","start":2357.91,"end":2358.51},{"text":"from","start":2358.51,"end":2358.71},{"text":"China.","start":2358.71,"end":2359.11}]},{"text":"So Cuba, you have the floor.","start":2359.75,"end":2360.63,"topics":[],"words":[{"text":"So","start":2359.75,"end":2359.83},{"text":"Cuba,","start":2359.83,"end":2360.15},{"text":"you","start":2360.15,"end":2360.23},{"text":"have","start":2360.23,"end":2360.35},{"text":"the","start":2360.35,"end":2360.43},{"text":"floor.","start":2360.43,"end":2360.63}]}]}],"speaker":{"name":"Ambassador Milambo","affiliation":"ZMB","affiliation_full":"Zambia","group":null,"function":"Co-facilitator"}},{"statement_number":19,"start":2362.51,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=2363","paragraphs":[{"sentences":[{"text":"Thank you, co-facilitator.","start":2362.51,"end":2363.91,"topics":[],"words":[{"text":"Thank","start":2362.51,"end":2362.79},{"text":"you,","start":2362.79,"end":2363.03},{"text":"co-facilitator.","start":2363.03,"end":2363.91}]},{"text":"Generally speaking, we are concerned by the pressure of developed countries to dilute and undermine this particular 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international financial architecture in an inclusive framework.","start":2374.47,"end":2383.47,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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economic bullying are rampant, and the unjust and unreasonable international economic order severely hinders the sustainable development of developing countries.","start":2489.19,"end":2498.19,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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This included making the system fairer, more transparent, more responsive, and better aligned with sustainable development."}],"words":[{"text":"The","start":2498.19,"end":2498.27},{"text":"international","start":2498.43,"end":2498.95},{"text":"community","start":2498.95,"end":2499.31},{"text":"should","start":2499.31,"end":2499.43},{"text":"strengthen","start":2499.43,"end":2499.79},{"text":"solidarity","start":2499.79,"end":2500.19},{"text":"and","start":2500.19,"end":2500.31},{"text":"cooperation,","start":2500.31,"end":2500.83},{"text":"reform","start":2500.83,"end":2501.19},{"text":"economic","start":2501.19,"end":2501.71},{"text":"governance","start":2501.71,"end":2502.07},{"text":"so","start":2502.07,"end":2502.15},{"text":"that","start":2502.15,"end":2502.31},{"text":"it","start":2502.31,"end":2502.39},{"text":"can","start":2502.39,"end":2502.51},{"text":"respond","start":2502.51,"end":2502.83},{"text":"to","start":2502.83,"end":2502.91},{"text":"global","start":2502.91,"end":2503.19},{"text":"challenges","start":2503.19,"end":2503.59},{"text":"more","start":2503.59,"end":2503.71},{"text":"timely","start":2503.71,"end":2503.95},{"text":"and","start":2503.95,"end":2504.07},{"text":"effectively.","start":2504.07,"end":2504.51}]},{"text":"I'd like to mention three points.","start":2504.51,"end":2506.23,"topics":[],"words":[{"text":"I'd","start":2504.51,"end":2504.71},{"text":"like","start":2505.11,"end":2505.27},{"text":"to","start":2505.27,"end":2505.35},{"text":"mention","start":2505.35,"end":2505.67},{"text":"three","start":2505.67,"end":2505.83},{"text":"points.","start":2505.83,"end":2506.23}]},{"text":"First, we should defend multilateralism.","start":2506.31,"end":2508.23,"topics":[],"words":[{"text":"First,","start":2506.31,"end":2506.71},{"text":"we","start":2506.71,"end":2506.79},{"text":"should","start":2506.79,"end":2506.99},{"text":"defend","start":2506.99,"end":2507.23},{"text":"multilateralism.","start":2507.23,"end":2508.23}]},{"text":"Uphold the rules based multilateral trading system with WTO at its core, promote trade liberalization and facilitation, resolutely oppose all forms of protectionism and arbitrary tariffs.","start":2508.67,"end":2519.55,"topics":[],"words":[{"text":"Uphold","start":2508.67,"end":2509.07},{"text":"the","start":2509.07,"end":2509.27},{"text":"rules","start":2509.39,"end":2509.71},{"text":"based","start":2509.71,"end":2510.11},{"text":"multilateral","start":2510.11,"end":2510.63},{"text":"trading","start":2510.63,"end":2510.91},{"text":"system","start":2510.91,"end":2511.31},{"text":"with","start":2511.39,"end":2511.59},{"text":"WTO","start":2511.59,"end":2512.19},{"text":"at","start":2512.19,"end":2512.43},{"text":"its","start":2512.43,"end":2512.59},{"text":"core,","start":2512.59,"end":2512.99},{"text":"promote","start":2513.15,"end":2513.67},{"text":"trade","start":2513.67,"end":2513.87},{"text":"liberalization","start":2513.87,"end":2514.55},{"text":"and","start":2514.55,"end":2514.67},{"text":"facilitation,","start":2514.67,"end":2515.55},{"text":"resolutely","start":2515.71,"end":2516.27},{"text":"oppose","start":2516.27,"end":2516.67},{"text":"all","start":2516.67,"end":2516.83},{"text":"forms","start":2516.83,"end":2517.11},{"text":"of","start":2517.11,"end":2517.19},{"text":"protectionism","start":2517.19,"end":2517.95},{"text":"and","start":2518.27,"end":2518.51},{"text":"arbitrary","start":2518.67,"end":2519.07},{"text":"tariffs.","start":2519.07,"end":2519.55}]},{"text":"Second, we must enhance global economic governance and reform international financial architecture to better reflect the changes in global economic landscape and better serve the economic growth of global cells.","start":2519.79,"end":2528.27,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. This included making the system fairer, more transparent, more responsive, and better aligned with sustainable development."}],"words":[{"text":"Second,","start":2519.79,"end":2520.19},{"text":"we","start":2520.19,"end":2520.31},{"text":"must","start":2520.31,"end":2520.51},{"text":"enhance","start":2520.51,"end":2520.91},{"text":"global","start":2520.91,"end":2521.19},{"text":"economic","start":2521.19,"end":2521.55},{"text":"governance","start":2521.55,"end":2521.99},{"text":"and","start":2521.99,"end":2522.15},{"text":"reform","start":2522.15,"end":2522.47},{"text":"international","start":2522.47,"end":2522.95},{"text":"financial","start":2522.95,"end":2523.27},{"text":"architecture","start":2523.27,"end":2523.79},{"text":"to","start":2523.87,"end":2523.99},{"text":"better","start":2523.99,"end":2524.19},{"text":"reflect","start":2524.19,"end":2524.59},{"text":"the","start":2524.59,"end":2524.67},{"text":"changes","start":2524.67,"end":2525.07},{"text":"in","start":2525.07,"end":2525.19},{"text":"global","start":2525.19,"end":2525.43},{"text":"economic","start":2525.43,"end":2525.75},{"text":"landscape","start":2525.75,"end":2526.27},{"text":"and","start":2526.27,"end":2526.39},{"text":"better","start":2526.39,"end":2526.59},{"text":"serve","start":2526.59,"end":2526.83},{"text":"the","start":2526.83,"end":2526.95},{"text":"economic","start":2526.95,"end":2527.27},{"text":"growth","start":2527.27,"end":2527.55},{"text":"of","start":2527.55,"end":2527.67},{"text":"global","start":2527.67,"end":2527.99},{"text":"cells.","start":2527.99,"end":2528.27}]},{"text":"We look forward to the 2025 World Bank shareholding review to address shareholding misalignment and make adjustments to the IMF's quota so as to enhance the voice and representation of the global south.","start":2529.07,"end":2541.31,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"We","start":2529.07,"end":2529.39},{"text":"look","start":2529.63,"end":2529.79},{"text":"forward","start":2529.79,"end":2530.27},{"text":"to","start":2530.43,"end":2530.91},{"text":"the","start":2531.23,"end":2531.35},{"text":"2025","start":2531.55,"end":2532.51},{"text":"World","start":2532.51,"end":2532.75},{"text":"Bank","start":2532.75,"end":2532.99},{"text":"shareholding","start":2532.99,"end":2533.47},{"text":"review","start":2533.47,"end":2533.87},{"text":"to","start":2533.87,"end":2534.07},{"text":"address","start":2534.07,"end":2534.51},{"text":"shareholding","start":2534.51,"end":2534.95},{"text":"misalignment","start":2534.95,"end":2535.63},{"text":"and","start":2535.79,"end":2535.95},{"text":"make","start":2535.95,"end":2536.11},{"text":"adjustments","start":2536.11,"end":2536.75},{"text":"to","start":2536.75,"end":2536.83},{"text":"the","start":2536.83,"end":2537.03},{"text":"IMF's","start":2537.03,"end":2537.51},{"text":"quota","start":2537.51,"end":2538.03},{"text":"so","start":2538.03,"end":2538.23},{"text":"as","start":2538.23,"end":2538.35},{"text":"to","start":2538.35,"end":2538.43},{"text":"enhance","start":2538.43,"end":2538.91},{"text":"the","start":2539.15,"end":2539.27},{"text":"voice","start":2539.31,"end":2539.71},{"text":"and","start":2539.71,"end":2539.83},{"text":"representation","start":2539.83,"end":2540.47},{"text":"of","start":2540.47,"end":2540.55},{"text":"the","start":2540.55,"end":2540.67},{"text":"global","start":2540.67,"end":2540.99},{"text":"south.","start":2540.99,"end":2541.31}]},{"text":"We must strengthen the credibility and the legitimacy of Bretton Woods institutions.","start":2541.87,"end":2545.71,"topics":[{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. 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The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"We","start":2541.87,"end":2542.27},{"text":"must","start":2542.27,"end":2542.51},{"text":"strengthen","start":2542.51,"end":2542.95},{"text":"the","start":2542.95,"end":2543.03},{"text":"credibility","start":2543.03,"end":2543.55},{"text":"and","start":2543.55,"end":2543.67},{"text":"the","start":2543.67,"end":2543.75},{"text":"legitimacy","start":2543.75,"end":2544.31},{"text":"of","start":2544.31,"end":2544.39},{"text":"Bretton","start":2544.39,"end":2544.71},{"text":"Woods","start":2544.71,"end":2544.91},{"text":"institutions.","start":2544.91,"end":2545.71}]},{"text":"We look forward to the World Bank's enhanced lending capacities replenishment and the operation of IDA21 as scheduled and so as to provide more affordable lending to developing countries.","start":2545.87,"end":2558.11,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"We","start":2545.87,"end":2545.99},{"text":"look","start":2545.99,"end":2546.11},{"text":"forward","start":2546.11,"end":2546.47},{"text":"to","start":2546.47,"end":2546.55},{"text":"the","start":2546.55,"end":2546.67},{"text":"World","start":2546.67,"end":2546.91},{"text":"Bank's","start":2546.91,"end":2547.39},{"text":"enhanced","start":2547.39,"end":2547.79},{"text":"lending","start":2547.79,"end":2548.07},{"text":"capacities","start":2548.07,"end":2548.67},{"text":"replenishment","start":2548.67,"end":2550.11},{"text":"and","start":2550.31,"end":2550.47},{"text":"the","start":2550.47,"end":2550.55},{"text":"operation","start":2550.55,"end":2550.91},{"text":"of","start":2550.91,"end":2550.99},{"text":"IDA21","start":2550.99,"end":2551.87},{"text":"as","start":2551.87,"end":2551.99},{"text":"scheduled","start":2551.99,"end":2552.51},{"text":"and","start":2554.55,"end":2554.67},{"text":"so","start":2554.67,"end":2554.99},{"text":"as","start":2554.99,"end":2555.15},{"text":"to","start":2555.15,"end":2555.31},{"text":"provide","start":2555.31,"end":2555.71},{"text":"more","start":2555.71,"end":2556.03},{"text":"affordable","start":2556.03,"end":2556.63},{"text":"lending","start":2556.63,"end":2557.07},{"text":"to","start":2557.07,"end":2557.23},{"text":"developing","start":2557.23,"end":2557.59},{"text":"countries.","start":2557.59,"end":2558.11}]},{"text":"Third, we must strengthen macroeconomic policy coordination.","start":2558.75,"end":2561.51,"topics":[],"words":[{"text":"Third,","start":2558.75,"end":2558.95},{"text":"we","start":2558.95,"end":2559.07},{"text":"must","start":2559.07,"end":2559.27},{"text":"strengthen","start":2559.27,"end":2559.71},{"text":"macroeconomic","start":2559.71,"end":2560.39},{"text":"policy","start":2560.39,"end":2560.79},{"text":"coordination.","start":2560.79,"end":2561.51}]},{"text":"Developed countries must shoulder the responsibilities to prevent negative spillover effects from their monetary policy adjustments.","start":2561.91,"end":2568.31,"topics":[],"words":[{"text":"Developed","start":2561.91,"end":2562.55},{"text":"countries","start":2562.55,"end":2563.03},{"text":"must","start":2563.03,"end":2563.27},{"text":"shoulder","start":2563.27,"end":2563.59},{"text":"the","start":2563.59,"end":2563.71},{"text":"responsibilities","start":2563.71,"end":2564.63},{"text":"to","start":2564.63,"end":2564.83},{"text":"prevent","start":2564.83,"end":2565.27},{"text":"negative","start":2565.27,"end":2565.67},{"text":"spillover","start":2565.67,"end":2566.15},{"text":"effects","start":2566.15,"end":2566.55},{"text":"from","start":2566.55,"end":2566.79},{"text":"their","start":2566.79,"end":2566.95},{"text":"monetary","start":2566.95,"end":2567.35},{"text":"policy","start":2567.35,"end":2567.71},{"text":"adjustments.","start":2567.71,"end":2568.31}]},{"text":"It's important to improve the financial risk regulation system and build a solid global financial safety net.","start":2568.47,"end":2572.79,"topics":[{"key":"sdrs-safety-net","label":"SDRs and the Global Financial Safety Net","description":"A major topic was how to use Special Drawing Rights more effectively and how to strengthen the global financial safety net with the IMF at its center. 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The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"We","start":3013.59,"end":3013.71},{"text":"welcome","start":3013.71,"end":3014.07},{"text":"the","start":3014.07,"end":3014.19},{"text":"focus","start":3014.19,"end":3014.79},{"text":"on","start":3014.79,"end":3015.27},{"text":"IMF","start":3015.27,"end":3015.75},{"text":"quota","start":3015.75,"end":3016.15},{"text":"realignment.","start":3016.15,"end":3017.19}]},{"text":"We urge inclusion of a commitment to review the voting formula itself.","start":3017.35,"end":3022.59,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"The","start":3085.79,"end":3085.91},{"text":"current","start":3085.95,"end":3086.35},{"text":"system","start":3086.35,"end":3087.07},{"text":"was","start":3087.07,"end":3087.31},{"text":"designed","start":3087.47,"end":3088.03},{"text":"in","start":3088.03,"end":3088.11},{"text":"a","start":3088.11,"end":3088.15},{"text":"very","start":3088.15,"end":3088.31},{"text":"different","start":3088.31,"end":3088.63},{"text":"context","start":3088.63,"end":3089.03},{"text":"to","start":3089.03,"end":3089.11},{"text":"that","start":3089.11,"end":3089.35},{"text":"we","start":3089.35,"end":3089.43},{"text":"are","start":3089.43,"end":3089.51},{"text":"living","start":3089.51,"end":3089.71},{"text":"in","start":3089.71,"end":3089.83},{"text":"today,","start":3089.83,"end":3090.19},{"text":"and","start":3090.43,"end":3090.59},{"text":"it","start":3090.59,"end":3090.67},{"text":"has","start":3090.67,"end":3090.79},{"text":"shown","start":3090.79,"end":3091.07},{"text":"structural","start":3091.07,"end":3091.75},{"text":"limitations","start":3091.75,"end":3092.51},{"text":"to","start":3092.51,"end":3092.59},{"text":"be","start":3092.59,"end":3092.71},{"text":"able","start":3092.71,"end":3092.91},{"text":"to","start":3092.91,"end":3093.03},{"text":"respond","start":3093.03,"end":3093.55},{"text":"to","start":3093.55,"end":3093.63},{"text":"the","start":3093.63,"end":3093.75},{"text":"increasing","start":3093.75,"end":3094.51},{"text":"financing","start":3094.67,"end":3095.63},{"text":"needs","start":3095.63,"end":3096.03},{"text":"for","start":3096.27,"end":3096.43},{"text":"developing","start":3096.43,"end":3096.91},{"text":"countries","start":3096.91,"end":3097.55},{"text":"and","start":3097.79,"end":3098.03},{"text":"to","start":3098.03,"end":3098.35},{"text":"support","start":3098.35,"end":3099.07},{"text":"a","start":3099.23,"end":3099.27},{"text":"truly","start":3099.27,"end":3099.79},{"text":"sustainable","start":3099.79,"end":3100.47},{"text":"and","start":3100.47,"end":3100.59},{"text":"inclusive","start":3100.59,"end":3101.15},{"text":"form","start":3101.15,"end":3101.39},{"text":"of","start":3101.39,"end":3101.47},{"text":"development.","start":3101.47,"end":3102.11}]},{"text":"We welcome the fact that the first draft of the outcome document provides specific specific outcomes for reforming this and to ensure to improve the representation of developing countries in the governance of international financial institutions.","start":3102.11,"end":3115.39,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. 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you very much.","start":3183.75,"end":3184.43,"topics":[],"words":[{"text":"Thank","start":3183.75,"end":3183.91},{"text":"you","start":3183.91,"end":3183.99},{"text":"very","start":3183.99,"end":3184.15},{"text":"much.","start":3184.15,"end":3184.43}]}]}],"speaker":{"name":null,"affiliation":"CHL","affiliation_full":"Chile","group":null,"function":"Representative"}},{"statement_number":32,"start":3184.43,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=3185","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative from Chile.","start":3184.43,"end":3186.71,"topics":[],"words":[{"text":"I","start":3184.43,"end":3184.51},{"text":"thank","start":3184.51,"end":3184.79},{"text":"the","start":3184.79,"end":3184.95},{"text":"distinguished","start":3185.07,"end":3185.71},{"text":"representative","start":3185.71,"end":3186.23},{"text":"from","start":3186.23,"end":3186.43},{"text":"Chile.","start":3186.43,"end":3186.71}]},{"text":"I now give the floor to a representative from civil society, that's the African Sovereign Debt Justice Network and Society for International Development Civil Society FFD 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floor is yours for two minutes, and then we'll get back to our panelists for a minute 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Milambo","affiliation":"ZMB","affiliation_full":"Zambia","group":null,"function":"Co-facilitator"}},{"statement_number":33,"start":3203.63,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=3204","paragraphs":[{"sentences":[{"text":"Chair.","start":3203.63,"end":3204.03,"topics":[],"words":[{"text":"Chair.","start":3203.63,"end":3204.03}]},{"text":"The monopoly held by private credit rating agencies in determining sovereign credit worthiness has become a silent weapon of economic coercion.","start":3204.75,"end":3213.31,"topics":[{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. 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interventions.","start":3330.19,"end":3333.15,"topics":[],"words":[{"text":"Thank","start":3330.19,"end":3330.39},{"text":"you","start":3330.39,"end":3330.47},{"text":"so","start":3330.47,"end":3330.71},{"text":"much,","start":3330.71,"end":3330.99},{"text":"everybody,","start":3330.99,"end":3331.39},{"text":"for","start":3331.39,"end":3331.71},{"text":"your","start":3331.71,"end":3332.03},{"text":"rich","start":3332.11,"end":3332.47},{"text":"interventions.","start":3332.47,"end":3333.15}]},{"text":"We now turn to the panelists for a minute 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Distinguished","start":3748.89,"end":3749.45},{"text":"ladies","start":3749.45,"end":3749.77},{"text":"and","start":3749.77,"end":3749.89},{"text":"gentlemen,","start":3749.89,"end":3750.33},{"text":"we","start":3750.33,"end":3750.41},{"text":"shall","start":3750.41,"end":3750.57},{"text":"now","start":3750.57,"end":3750.65},{"text":"begin","start":3750.65,"end":3751.05},{"text":"the","start":3751.05,"end":3751.13},{"text":"discussion","start":3751.13,"end":3751.85},{"text":"on","start":3751.85,"end":3752.17},{"text":"debt","start":3752.17,"end":3752.81},{"text":"and","start":3752.89,"end":3753.09},{"text":"the","start":3753.09,"end":3753.17},{"text":"cost","start":3753.17,"end":3753.53},{"text":"of","start":3753.53,"end":3753.61},{"text":"borrowing.","start":3753.61,"end":3754.09}]},{"text":"I'm pleased to welcome our distinguished panelists and discussants for this discussion.","start":3755.13,"end":3759.77,"topics":[],"words":[{"text":"I'm","start":3755.13,"end":3755.37},{"text":"pleased","start":3755.37,"end":3755.65},{"text":"to","start":3755.65,"end":3755.73},{"text":"welcome","start":3755.73,"end":3756.09},{"text":"our","start":3756.09,"end":3756.17},{"text":"distinguished","start":3756.17,"end":3756.89},{"text":"panelists","start":3756.97,"end":3757.61},{"text":"and","start":3757.69,"end":3757.85},{"text":"discussants","start":3757.85,"end":3758.57},{"text":"for","start":3758.65,"end":3758.89},{"text":"this","start":3758.89,"end":3759.05},{"text":"discussion.","start":3759.13,"end":3759.77}]},{"text":"Ministers, excellencies, distinguished delegates, on behalf of my fellow co-facilitators, It is my pleasure to moderate this panel discussion together with Ambassador Merete.","start":3761.29,"end":3772.25,"topics":[],"words":[{"text":"Ministers,","start":3761.29,"end":3761.89},{"text":"excellencies,","start":3761.89,"end":3762.73},{"text":"distinguished","start":3762.73,"end":3763.45},{"text":"delegates,","start":3763.45,"end":3764.17},{"text":"on","start":3764.77,"end":3764.89},{"text":"behalf","start":3764.89,"end":3765.33},{"text":"of","start":3765.33,"end":3765.45},{"text":"my","start":3765.45,"end":3765.77},{"text":"fellow","start":3766.01,"end":3766.17},{"text":"co-facilitators,","start":3766.17,"end":3767.29},{"text":"It","start":3767.93,"end":3768.05},{"text":"is","start":3768.05,"end":3768.17},{"text":"my","start":3768.17,"end":3768.33},{"text":"pleasure","start":3768.33,"end":3768.73},{"text":"to","start":3768.73,"end":3768.85},{"text":"moderate","start":3768.85,"end":3769.29},{"text":"this","start":3769.29,"end":3769.45},{"text":"panel","start":3769.45,"end":3769.69},{"text":"discussion","start":3769.69,"end":3770.25},{"text":"together","start":3770.25,"end":3770.65},{"text":"with","start":3770.65,"end":3771.05},{"text":"Ambassador","start":3771.25,"end":3771.73},{"text":"Merete.","start":3771.73,"end":3772.25}]},{"text":"Amid successive crisis and shocks, sovereign debt challenges have become one of the greatest obstacles to realizing sustainable development.","start":3775.05,"end":3783.93,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Amid","start":3775.05,"end":3775.53},{"text":"successive","start":3775.61,"end":3776.41},{"text":"crisis","start":3776.65,"end":3777.13},{"text":"and","start":3777.13,"end":3777.29},{"text":"shocks,","start":3777.29,"end":3777.85},{"text":"sovereign","start":3778.41,"end":3778.89},{"text":"debt","start":3778.89,"end":3779.13},{"text":"challenges","start":3779.13,"end":3779.81},{"text":"have","start":3779.81,"end":3779.93},{"text":"become","start":3779.93,"end":3780.33},{"text":"one","start":3780.33,"end":3780.49},{"text":"of","start":3780.49,"end":3780.57},{"text":"the","start":3780.57,"end":3780.69},{"text":"greatest","start":3780.69,"end":3781.17},{"text":"obstacles","start":3781.21,"end":3781.93},{"text":"to","start":3781.93,"end":3782.05},{"text":"realizing","start":3782.05,"end":3782.73},{"text":"sustainable","start":3782.73,"end":3783.29},{"text":"development.","start":3783.29,"end":3783.93}]},{"text":"Many developing countries face high debt service burdens and borrowing costs, which severely constrain their fiscal space and ability to address poverty and inequality.","start":3785.13,"end":3795.93,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Many","start":3785.13,"end":3785.37},{"text":"developing","start":3785.37,"end":3785.85},{"text":"countries","start":3785.85,"end":3786.41},{"text":"face","start":3786.97,"end":3787.29},{"text":"high","start":3787.29,"end":3787.53},{"text":"debt","start":3787.53,"end":3787.85},{"text":"service","start":3787.85,"end":3788.17},{"text":"burdens","start":3788.17,"end":3788.73},{"text":"and","start":3788.81,"end":3788.97},{"text":"borrowing","start":3788.97,"end":3789.33},{"text":"costs,","start":3789.33,"end":3789.77},{"text":"which","start":3790.33,"end":3790.57},{"text":"severely","start":3790.57,"end":3791.05},{"text":"constrain","start":3791.05,"end":3791.61},{"text":"their","start":3791.61,"end":3791.77},{"text":"fiscal","start":3791.77,"end":3792.09},{"text":"space","start":3792.09,"end":3792.49},{"text":"and","start":3792.49,"end":3792.61},{"text":"ability","start":3792.61,"end":3793.05},{"text":"to","start":3793.05,"end":3793.25},{"text":"address","start":3793.25,"end":3793.77},{"text":"poverty","start":3794.01,"end":3794.65},{"text":"and","start":3795.09,"end":3795.21},{"text":"inequality.","start":3795.21,"end":3795.93}]},{"text":"and invest in sustainable development.","start":3797.49,"end":3799.81,"topics":[],"words":[{"text":"and","start":3797.49,"end":3797.61},{"text":"invest","start":3797.61,"end":3798.01},{"text":"in","start":3798.01,"end":3798.17},{"text":"sustainable","start":3798.17,"end":3799.29},{"text":"development.","start":3799.29,"end":3799.81}]},{"text":"Despite progress in reforming the debt architecture, restructurings are often still inadequate, late, and too lengthy.","start":3800.01,"end":3807.77,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Despite","start":3800.01,"end":3800.41},{"text":"progress","start":3800.41,"end":3800.81},{"text":"in","start":3800.81,"end":3800.97},{"text":"reforming","start":3800.97,"end":3801.41},{"text":"the","start":3801.41,"end":3801.61},{"text":"debt","start":3801.61,"end":3801.93},{"text":"architecture,","start":3802.01,"end":3802.81},{"text":"restructurings","start":3803.45,"end":3804.25},{"text":"are","start":3804.25,"end":3804.33},{"text":"often","start":3804.33,"end":3804.65},{"text":"still","start":3804.65,"end":3804.89},{"text":"inadequate,","start":3804.89,"end":3805.77},{"text":"late,","start":3806.09,"end":3806.57},{"text":"and","start":3806.65,"end":3806.93},{"text":"too","start":3806.93,"end":3807.29},{"text":"lengthy.","start":3807.29,"end":3807.77}]},{"text":"A development-oriented debt architecture based on sound and transparent analysis of debt analysis, the sustainability, is urgently needed to address these debt challenges.","start":3808.97,"end":3818.33,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"A","start":3808.97,"end":3809.01},{"text":"development-oriented","start":3809.01,"end":3810.05},{"text":"debt","start":3810.05,"end":3810.33},{"text":"architecture","start":3810.33,"end":3811.05},{"text":"based","start":3811.05,"end":3811.33},{"text":"on","start":3811.33,"end":3811.45},{"text":"sound","start":3811.45,"end":3811.93},{"text":"and","start":3811.93,"end":3812.13},{"text":"transparent","start":3812.13,"end":3812.69},{"text":"analysis","start":3812.69,"end":3813.21},{"text":"of","start":3813.21,"end":3813.29},{"text":"debt","start":3813.29,"end":3813.53},{"text":"analysis,","start":3813.53,"end":3814.17},{"text":"the","start":3814.17,"end":3814.29},{"text":"sustainability,","start":3814.29,"end":3815.21},{"text":"is","start":3815.77,"end":3816.09},{"text":"urgently","start":3816.25,"end":3816.73},{"text":"needed","start":3816.73,"end":3817.01},{"text":"to","start":3817.01,"end":3817.17},{"text":"address","start":3817.17,"end":3817.49},{"text":"these","start":3817.49,"end":3817.69},{"text":"debt","start":3817.69,"end":3817.85},{"text":"challenges.","start":3817.85,"end":3818.33}]},{"text":"The debt chapter outlines four areas of actions to address these challenges, including actions to, one, strengthen debt management, debt transparency, and responsible borrowing and lending.","start":3819.93,"end":3831.57,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."},{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"The","start":3819.93,"end":3820.05},{"text":"debt","start":3820.05,"end":3820.41},{"text":"chapter","start":3820.41,"end":3820.77},{"text":"outlines","start":3820.77,"end":3821.37},{"text":"four","start":3821.37,"end":3821.69},{"text":"areas","start":3821.69,"end":3822.05},{"text":"of","start":3822.05,"end":3822.17},{"text":"actions","start":3822.17,"end":3822.57},{"text":"to","start":3822.57,"end":3822.77},{"text":"address","start":3822.77,"end":3823.13},{"text":"these","start":3823.13,"end":3823.45},{"text":"challenges,","start":3823.45,"end":3824.01},{"text":"including","start":3824.01,"end":3824.65},{"text":"actions","start":3825.05,"end":3825.45},{"text":"to,","start":3825.45,"end":3825.65},{"text":"one,","start":3825.65,"end":3826.01},{"text":"strengthen","start":3826.45,"end":3827.01},{"text":"debt","start":3827.01,"end":3827.65},{"text":"management,","start":3827.65,"end":3828.29},{"text":"debt","start":3828.53,"end":3828.81},{"text":"transparency,","start":3828.81,"end":3829.73},{"text":"and","start":3829.81,"end":3829.97},{"text":"responsible","start":3829.97,"end":3830.69},{"text":"borrowing","start":3830.69,"end":3831.05},{"text":"and","start":3831.05,"end":3831.17},{"text":"lending.","start":3831.17,"end":3831.57}]},{"text":"Two, lower borrowing costs and enhance fiscal space for investment in sustainable development in developing countries.","start":3832.21,"end":3838.69,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Two,","start":3832.21,"end":3832.53},{"text":"lower","start":3833.33,"end":3833.65},{"text":"borrowing","start":3833.65,"end":3833.97},{"text":"costs","start":3833.97,"end":3834.45},{"text":"and","start":3834.53,"end":3834.69},{"text":"enhance","start":3834.69,"end":3835.09},{"text":"fiscal","start":3835.09,"end":3835.41},{"text":"space","start":3835.41,"end":3835.77},{"text":"for","start":3835.77,"end":3835.97},{"text":"investment","start":3835.97,"end":3836.45},{"text":"in","start":3836.45,"end":3836.53},{"text":"sustainable","start":3836.53,"end":3837.09},{"text":"development","start":3837.09,"end":3837.65},{"text":"in","start":3837.65,"end":3837.77},{"text":"developing","start":3837.77,"end":3838.17},{"text":"countries.","start":3838.17,"end":3838.69}]},{"text":"Three, achieve efficient, fair, predictable, coordinated, timely, and orderly restructurings.","start":3839.49,"end":3846.93,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Three,","start":3839.49,"end":3839.97},{"text":"achieve","start":3840.53,"end":3841.09},{"text":"efficient,","start":3841.17,"end":3841.89},{"text":"fair,","start":3841.97,"end":3842.45},{"text":"predictable,","start":3842.53,"end":3843.17},{"text":"coordinated,","start":3843.17,"end":3844.05},{"text":"timely,","start":3844.05,"end":3844.77},{"text":"and","start":3845.09,"end":3845.41},{"text":"orderly","start":3845.41,"end":3846.05},{"text":"restructurings.","start":3846.05,"end":3846.93}]},{"text":"And four, promote debt sustainability and credit assessments that are more accurate, objective and long-term oriented.","start":3847.49,"end":3857.13,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."},{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. They proposed stronger oversight, improved methodologies, structured dialogue, and even possible public alternatives under multilateral frameworks."}],"words":[{"text":"And","start":3847.49,"end":3847.65},{"text":"four,","start":3847.65,"end":3848.05},{"text":"promote","start":3848.85,"end":3849.41},{"text":"debt","start":3849.57,"end":3849.97},{"text":"sustainability","start":3849.97,"end":3851.01},{"text":"and","start":3851.17,"end":3851.33},{"text":"credit","start":3851.33,"end":3851.81},{"text":"assessments","start":3851.81,"end":3852.53},{"text":"that","start":3852.69,"end":3853.09},{"text":"are","start":3853.09,"end":3853.41},{"text":"more","start":3853.49,"end":3853.85},{"text":"accurate,","start":3853.85,"end":3854.37},{"text":"objective","start":3855.05,"end":3855.65},{"text":"and","start":3855.65,"end":3855.77},{"text":"long-term","start":3855.77,"end":3856.41},{"text":"oriented.","start":3856.49,"end":3857.13}]},{"text":"Panelists in this session are invited to pay particular attention to the proposals on strengthening and systematizing of liquidity and liability management support and on closing gaps in the debt architecture.","start":3858.49,"end":3872.37,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Panelists","start":3858.49,"end":3859.61},{"text":"in","start":3859.69,"end":3859.89},{"text":"this","start":3859.89,"end":3860.05},{"text":"session","start":3860.05,"end":3860.57},{"text":"are","start":3860.65,"end":3860.73},{"text":"invited","start":3860.73,"end":3861.29},{"text":"to","start":3861.29,"end":3861.37},{"text":"pay","start":3861.37,"end":3861.61},{"text":"particular","start":3861.61,"end":3862.17},{"text":"attention","start":3862.17,"end":3862.57},{"text":"to","start":3862.57,"end":3862.65},{"text":"the","start":3862.65,"end":3862.73},{"text":"proposals","start":3862.73,"end":3863.49},{"text":"on","start":3863.49,"end":3863.69},{"text":"strengthening","start":3863.69,"end":3864.33},{"text":"and","start":3864.33,"end":3864.49},{"text":"systematizing","start":3864.49,"end":3866.73},{"text":"of","start":3866.97,"end":3867.13},{"text":"liquidity","start":3867.13,"end":3867.77},{"text":"and","start":3867.77,"end":3867.93},{"text":"liability","start":3867.93,"end":3868.49},{"text":"management","start":3868.49,"end":3868.97},{"text":"support","start":3868.97,"end":3869.53},{"text":"and","start":3869.93,"end":3870.09},{"text":"on","start":3870.09,"end":3870.25},{"text":"closing","start":3870.25,"end":3870.65},{"text":"gaps","start":3870.65,"end":3871.13},{"text":"in","start":3871.13,"end":3871.29},{"text":"the","start":3871.29,"end":3871.37},{"text":"debt","start":3871.37,"end":3871.69},{"text":"architecture.","start":3871.77,"end":3872.37}]},{"text":"I invite the panelists to respond to the following guiding questions.","start":3874.65,"end":3877.45,"topics":[],"words":[{"text":"I","start":3874.65,"end":3874.81},{"text":"invite","start":3874.81,"end":3875.21},{"text":"the","start":3875.21,"end":3875.29},{"text":"panelists","start":3875.29,"end":3875.69},{"text":"to","start":3875.69,"end":3875.77},{"text":"respond","start":3875.77,"end":3876.13},{"text":"to","start":3876.13,"end":3876.21},{"text":"the","start":3876.21,"end":3876.33},{"text":"following","start":3876.33,"end":3876.65},{"text":"guiding","start":3876.65,"end":3876.93},{"text":"questions.","start":3876.93,"end":3877.45}]},{"text":"What are the key constraints to scaling up and ensuring coordinated support to countries to enhance fiscal space and lower their cost of borrowing and to provide related financial instruments such as debt swaps, credit enhancements at scale?","start":3878.57,"end":3893.41,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."},{"key":"debt-swaps-resilience","label":"Debt Swaps for Sustainable Development","description":"Debt swaps were discussed as a tool to create fiscal space while supporting climate action, nature protection, and broader sustainable development goals. Speakers emphasized the need to reduce transaction costs, provide technical support, and adapt these instruments to country-specific circumstances."}],"words":[{"text":"What","start":3878.57,"end":3878.81},{"text":"are","start":3878.81,"end":3878.89},{"text":"the","start":3878.89,"end":3879.01},{"text":"key","start":3879.01,"end":3879.65},{"text":"constraints","start":3879.73,"end":3880.37},{"text":"to","start":3880.37,"end":3880.57},{"text":"scaling","start":3880.57,"end":3881.01},{"text":"up","start":3881.01,"end":3881.29},{"text":"and","start":3881.29,"end":3881.45},{"text":"ensuring","start":3881.45,"end":3881.89},{"text":"coordinated","start":3881.89,"end":3882.45},{"text":"support","start":3882.45,"end":3883.05},{"text":"to","start":3883.05,"end":3883.17},{"text":"countries","start":3883.17,"end":3883.73},{"text":"to","start":3883.73,"end":3883.89},{"text":"enhance","start":3883.89,"end":3884.29},{"text":"fiscal","start":3884.29,"end":3884.61},{"text":"space","start":3884.61,"end":3885.09},{"text":"and","start":3885.21,"end":3885.33},{"text":"lower","start":3885.33,"end":3885.57},{"text":"their","start":3885.57,"end":3885.73},{"text":"cost","start":3885.73,"end":3886.01},{"text":"of","start":3886.01,"end":3886.09},{"text":"borrowing","start":3886.09,"end":3886.61},{"text":"and","start":3886.97,"end":3887.13},{"text":"to","start":3887.13,"end":3887.21},{"text":"provide","start":3887.21,"end":3887.73},{"text":"related","start":3887.73,"end":3888.29},{"text":"financial","start":3888.29,"end":3888.93},{"text":"instruments","start":3889.17,"end":3889.89},{"text":"such","start":3889.89,"end":3890.09},{"text":"as","start":3890.09,"end":3890.21},{"text":"debt","start":3890.21,"end":3890.45},{"text":"swaps,","start":3890.45,"end":3890.93},{"text":"credit","start":3891.57,"end":3891.93},{"text":"enhancements","start":3891.93,"end":3892.69},{"text":"at","start":3892.85,"end":3893.01},{"text":"scale?","start":3893.01,"end":3893.41}]},{"text":"The next question is how can we provide such support at scale, take into account the need for providing financial support and for responsiveness to country specific needs and circumstances?","start":3895.09,"end":3907.33,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"The","start":3895.09,"end":3895.21},{"text":"next","start":3895.21,"end":3895.53},{"text":"question","start":3895.53,"end":3895.89},{"text":"is","start":3895.89,"end":3896.21},{"text":"how","start":3896.21,"end":3896.37},{"text":"can","start":3896.37,"end":3896.53},{"text":"we","start":3896.53,"end":3896.65},{"text":"provide","start":3896.65,"end":3897.17},{"text":"such","start":3897.17,"end":3897.41},{"text":"support","start":3897.41,"end":3898.05},{"text":"at","start":3898.13,"end":3898.29},{"text":"scale,","start":3898.29,"end":3898.77},{"text":"take","start":3899.33,"end":3899.57},{"text":"into","start":3899.57,"end":3899.85},{"text":"account","start":3899.85,"end":3900.21},{"text":"the","start":3900.21,"end":3900.29},{"text":"need","start":3900.29,"end":3900.53},{"text":"for","start":3900.53,"end":3900.69},{"text":"providing","start":3900.69,"end":3901.09},{"text":"financial","start":3901.09,"end":3901.53},{"text":"support","start":3901.53,"end":3902.13},{"text":"and","start":3902.57,"end":3902.69},{"text":"for","start":3902.69,"end":3903.05},{"text":"responsiveness","start":3903.33,"end":3904.05},{"text":"to","start":3905.01,"end":3905.17},{"text":"country","start":3905.17,"end":3905.65},{"text":"specific","start":3905.65,"end":3906.13},{"text":"needs","start":3906.13,"end":3906.41},{"text":"and","start":3906.41,"end":3906.57},{"text":"circumstances?","start":3906.57,"end":3907.33}]},{"text":"The third question, what are the most important, most critical gaps that need to be closed to create development oriented debt architecture?","start":3908.49,"end":3917.05,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"The","start":3908.49,"end":3908.61},{"text":"third","start":3908.61,"end":3908.85},{"text":"question,","start":3908.85,"end":3909.45},{"text":"what","start":3910.25,"end":3910.41},{"text":"are","start":3910.41,"end":3910.49},{"text":"the","start":3910.49,"end":3910.65},{"text":"most","start":3910.65,"end":3910.97},{"text":"important,","start":3910.97,"end":3911.69},{"text":"most","start":3911.69,"end":3912.01},{"text":"critical","start":3912.01,"end":3912.41},{"text":"gaps","start":3912.81,"end":3913.21},{"text":"that","start":3913.21,"end":3913.37},{"text":"need","start":3913.37,"end":3913.53},{"text":"to","start":3913.53,"end":3913.61},{"text":"be","start":3913.61,"end":3913.69},{"text":"closed","start":3913.69,"end":3914.01},{"text":"to","start":3914.01,"end":3914.25},{"text":"create","start":3914.25,"end":3914.57},{"text":"development","start":3914.57,"end":3915.21},{"text":"oriented","start":3915.21,"end":3915.97},{"text":"debt","start":3915.97,"end":3916.25},{"text":"architecture?","start":3916.41,"end":3917.05}]},{"text":"And these are actions 42, 42B and 43 respectively.","start":3917.49,"end":3922.33,"topics":[],"words":[{"text":"And","start":3917.49,"end":3917.65},{"text":"these","start":3917.65,"end":3917.85},{"text":"are","start":3917.85,"end":3917.93},{"text":"actions","start":3917.93,"end":3918.41},{"text":"42,","start":3918.41,"end":3919.13},{"text":"42B","start":3919.29,"end":3920.09},{"text":"and","start":3920.45,"end":3920.57},{"text":"43","start":3920.57,"end":3921.29},{"text":"respectively.","start":3921.61,"end":3922.33}]},{"text":"I will now give the floor to the distinguished representative from Norway, Ambassador Ameretti.","start":3923.53,"end":3931.09,"topics":[],"words":[{"text":"I","start":3923.53,"end":3923.61},{"text":"will","start":3923.61,"end":3924.17},{"text":"now","start":3924.25,"end":3924.57},{"text":"give","start":3924.57,"end":3925.05},{"text":"the","start":3925.13,"end":3925.29},{"text":"floor","start":3925.29,"end":3925.53},{"text":"to","start":3925.53,"end":3926.09},{"text":"the","start":3926.41,"end":3926.53},{"text":"distinguished","start":3926.53,"end":3927.21},{"text":"representative","start":3927.21,"end":3927.93},{"text":"from","start":3927.93,"end":3928.17},{"text":"Norway,","start":3928.17,"end":3928.57},{"text":"Ambassador","start":3930.29,"end":3930.77},{"text":"Ameretti.","start":3930.77,"end":3931.09}]}]}],"speaker":{"name":"Ambassador Milambo","affiliation":"ZMB","affiliation_full":"Zambia","group":null,"function":"Co-facilitator"}},{"statement_number":43,"start":3931.29,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=3932","paragraphs":[{"sentences":[{"text":"Thank you very much, Chirola.","start":3931.29,"end":3932.65,"topics":[],"words":[{"text":"Thank","start":3931.29,"end":3931.53},{"text":"you","start":3931.53,"end":3931.61},{"text":"very","start":3931.61,"end":3931.81},{"text":"much,","start":3931.81,"end":3932.21},{"text":"Chirola.","start":3932.21,"end":3932.65}]},{"text":"So now we shall hear presentation by our distinguished panelists.","start":3932.65,"end":3937.13,"topics":[],"words":[{"text":"So","start":3932.65,"end":3933.05},{"text":"now","start":3933.05,"end":3933.29},{"text":"we","start":3933.29,"end":3933.45},{"text":"shall","start":3933.45,"end":3933.61},{"text":"hear","start":3933.61,"end":3933.93},{"text":"presentation","start":3933.93,"end":3935.05},{"text":"by","start":3935.13,"end":3935.53},{"text":"our","start":3935.53,"end":3935.81},{"text":"distinguished","start":3935.81,"end":3936.41},{"text":"panelists.","start":3936.41,"end":3937.13}]},{"text":"I would kindly like to remind panellists to be concise and concrete in your interventions and speak for not more than four minutes.","start":3937.57,"end":3945.49,"topics":[],"words":[{"text":"I","start":3937.57,"end":3937.81},{"text":"would","start":3937.81,"end":3937.97},{"text":"kindly","start":3937.97,"end":3938.45},{"text":"like","start":3938.45,"end":3938.69},{"text":"to","start":3938.69,"end":3938.81},{"text":"remind","start":3938.81,"end":3939.17},{"text":"panellists","start":3939.17,"end":3939.89},{"text":"to","start":3940.13,"end":3940.29},{"text":"be","start":3940.29,"end":3940.53},{"text":"concise","start":3940.53,"end":3941.01},{"text":"and","start":3941.01,"end":3941.17},{"text":"concrete","start":3941.17,"end":3941.81},{"text":"in","start":3941.81,"end":3942.05},{"text":"your","start":3942.05,"end":3942.29},{"text":"interventions","start":3942.29,"end":3943.09},{"text":"and","start":3943.09,"end":3943.29},{"text":"speak","start":3943.29,"end":3943.65},{"text":"for","start":3943.65,"end":3943.81},{"text":"not","start":3943.81,"end":3944.05},{"text":"more","start":3944.05,"end":3944.29},{"text":"than","start":3944.29,"end":3944.45},{"text":"four","start":3944.45,"end":3944.77},{"text":"minutes.","start":3944.77,"end":3945.49}]},{"text":"I invite you to speak specifically to the first draft of the outcome document and on how you want to strengthen the actions for a strong outcome in Seville.","start":3947.09,"end":3957.81,"topics":[],"words":[{"text":"I","start":3947.09,"end":3947.57},{"text":"invite","start":3947.57,"end":3948.05},{"text":"you","start":3948.05,"end":3948.13},{"text":"to","start":3948.13,"end":3948.25},{"text":"speak","start":3948.29,"end":3948.69},{"text":"specifically","start":3948.69,"end":3949.65},{"text":"to","start":3949.65,"end":3949.81},{"text":"the","start":3949.81,"end":3949.97},{"text":"first","start":3949.97,"end":3950.41},{"text":"draft","start":3950.41,"end":3950.93},{"text":"of","start":3951.01,"end":3951.25},{"text":"the","start":3951.25,"end":3951.45},{"text":"outcome","start":3951.45,"end":3951.81},{"text":"document","start":3951.81,"end":3952.53},{"text":"and","start":3952.93,"end":3953.21},{"text":"on","start":3953.21,"end":3953.33},{"text":"how","start":3953.33,"end":3953.57},{"text":"you","start":3953.57,"end":3953.77},{"text":"want","start":3953.77,"end":3954.09},{"text":"to","start":3954.09,"end":3954.17},{"text":"strengthen","start":3954.17,"end":3954.77},{"text":"the","start":3954.77,"end":3954.89},{"text":"actions","start":3954.89,"end":3955.41},{"text":"for","start":3955.41,"end":3955.61},{"text":"a","start":3955.61,"end":3955.65},{"text":"strong","start":3955.65,"end":3956.21},{"text":"outcome","start":3956.29,"end":3957.01},{"text":"in","start":3957.01,"end":3957.41},{"text":"Seville.","start":3957.49,"end":3957.81}]},{"text":"Let's start.","start":3958.69,"end":3959.57,"topics":[],"words":[{"text":"Let's","start":3958.69,"end":3959.05},{"text":"start.","start":3959.05,"end":3959.57}]},{"text":"I'll give the floor first to Mr. Phil Stevens, Foreign and Commonwealth and Development Office of the United Kingdom of Great Britain and Northern Ireland.","start":3959.57,"end":3968.41,"topics":[],"words":[{"text":"I'll","start":3959.57,"end":3959.97},{"text":"give","start":3959.97,"end":3960.29},{"text":"the","start":3960.29,"end":3960.45},{"text":"floor","start":3960.45,"end":3960.69},{"text":"first","start":3960.69,"end":3961.21},{"text":"to","start":3961.21,"end":3961.29},{"text":"Mr.","start":3961.33,"end":3961.69},{"text":"Phil","start":3961.69,"end":3961.97},{"text":"Stevens,","start":3961.97,"end":3962.69},{"text":"Foreign","start":3962.69,"end":3963.01},{"text":"and","start":3963.01,"end":3963.13},{"text":"Commonwealth","start":3963.13,"end":3963.73},{"text":"and","start":3963.73,"end":3963.85},{"text":"Development","start":3963.85,"end":3964.45},{"text":"Office","start":3964.45,"end":3964.85},{"text":"of","start":3965.57,"end":3965.73},{"text":"the","start":3965.73,"end":3965.85},{"text":"United","start":3965.85,"end":3966.33},{"text":"Kingdom","start":3966.33,"end":3966.85},{"text":"of","start":3966.85,"end":3966.93},{"text":"Great","start":3966.93,"end":3967.21},{"text":"Britain","start":3967.21,"end":3967.45},{"text":"and","start":3967.45,"end":3967.61},{"text":"Northern","start":3967.61,"end":3967.93},{"text":"Ireland.","start":3967.93,"end":3968.41}]},{"text":"Phil, you have the floor.","start":3968.61,"end":3969.57,"topics":[],"words":[{"text":"Phil,","start":3968.61,"end":3968.85},{"text":"you","start":3968.85,"end":3968.93},{"text":"have","start":3968.93,"end":3969.17},{"text":"the","start":3969.17,"end":3969.25},{"text":"floor.","start":3969.25,"end":3969.57}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-facilitator"}},{"statement_number":44,"start":3971.65,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=3972","paragraphs":[{"sentences":[{"text":"Thank you, chairs.","start":3971.65,"end":3972.37,"topics":[],"words":[{"text":"Thank","start":3971.65,"end":3971.89},{"text":"you,","start":3971.89,"end":3971.97},{"text":"chairs.","start":3971.97,"end":3972.37}]},{"text":"It's a pleasure to be able to be part of this panel and talk on this important issue.","start":3972.41,"end":3977.17,"topics":[],"words":[{"text":"It's","start":3972.41,"end":3972.93},{"text":"a","start":3972.93,"end":3973.01},{"text":"pleasure","start":3973.01,"end":3973.33},{"text":"to","start":3973.33,"end":3973.73},{"text":"be","start":3973.73,"end":3974.05},{"text":"able","start":3974.05,"end":3974.21},{"text":"to","start":3974.21,"end":3974.49},{"text":"be","start":3974.49,"end":3974.57},{"text":"part","start":3974.57,"end":3974.73},{"text":"of","start":3974.73,"end":3974.81},{"text":"this","start":3974.81,"end":3974.97},{"text":"panel","start":3974.97,"end":3975.25},{"text":"and","start":3975.25,"end":3975.37},{"text":"talk","start":3975.37,"end":3975.61},{"text":"on","start":3975.61,"end":3975.69},{"text":"this","start":3975.69,"end":3975.97},{"text":"important","start":3976.21,"end":3976.73},{"text":"issue.","start":3976.73,"end":3977.17}]},{"text":"I'm not at all surprised that debt has been a really important issue throughout this financing for 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Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"We","start":3984.97,"end":3985.13},{"text":"know","start":3985.13,"end":3985.25},{"text":"it's","start":3985.25,"end":3985.49},{"text":"a","start":3985.49,"end":3985.53},{"text":"huge","start":3985.53,"end":3985.81},{"text":"challenge","start":3985.81,"end":3986.33},{"text":"for","start":3986.81,"end":3986.97},{"text":"many","start":3986.97,"end":3987.17},{"text":"countries.","start":3987.17,"end":3987.69}]},{"text":"There are more than three billion people living around the world right now in countries where debt service payments are exceeding what that country is able to spend on either health or education.","start":3987.69,"end":3998.73,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. 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Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."}],"words":[{"text":"We","start":4284.05,"end":4284.17},{"text":"need","start":4284.17,"end":4284.29},{"text":"capacity","start":4284.29,"end":4284.77},{"text":"building","start":4284.77,"end":4285.09},{"text":"for","start":4285.09,"end":4285.21},{"text":"countries.","start":4285.21,"end":4285.81}]},{"text":"We need to strengthen the debt sustainability framework that the IMF use for looking at debt sustainability to make sure that it takes proper account of countries vulnerabilities.","start":4286.29,"end":4295.97,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. 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Kingdom of Great Britain and Northern Ireland","group":null,"function":null}},{"statement_number":45,"start":4332.61,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=4333","paragraphs":[{"sentences":[{"text":"Thank you very much, Phil, and also for being so concrete in your suggestions to what we can look 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Ms. Monica, you have the floor.","start":4347.17,"end":4349.13,"topics":[],"words":[{"text":"So,","start":4347.17,"end":4347.45},{"text":"Ms.","start":4347.53,"end":4347.81},{"text":"Monica,","start":4347.81,"end":4348.13},{"text":"you","start":4348.13,"end":4348.33},{"text":"have","start":4348.33,"end":4348.69},{"text":"the","start":4348.69,"end":4348.77},{"text":"floor.","start":4348.77,"end":4349.13}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-facilitator"}},{"statement_number":46,"start":4351.61,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=4352","paragraphs":[{"sentences":[{"text":"Thank you so much, Madam Moderator, and it's a pleasure to be 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not the end itself.","start":4691.49,"end":4693.25,"topics":[],"words":[{"text":"Debt","start":4691.49,"end":4691.93},{"text":"is","start":4691.93,"end":4692.05},{"text":"not","start":4692.05,"end":4692.25},{"text":"the","start":4692.25,"end":4692.33},{"text":"end","start":4692.33,"end":4692.65},{"text":"itself.","start":4692.65,"end":4693.25}]},{"text":"Debt is a means to solve problems.","start":4694.77,"end":4697.33,"topics":[],"words":[{"text":"Debt","start":4694.77,"end":4695.33},{"text":"is","start":4695.41,"end":4695.69},{"text":"a","start":4695.69,"end":4695.73},{"text":"means","start":4695.73,"end":4696.17},{"text":"to","start":4696.17,"end":4696.25},{"text":"solve","start":4696.29,"end":4696.61},{"text":"problems.","start":4696.61,"end":4697.33}]},{"text":"I think we need to solve 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develop?","start":4718.25,"end":4723.41,"topics":[],"words":[{"text":"Is","start":4718.25,"end":4718.45},{"text":"it","start":4718.45,"end":4718.65},{"text":"creating","start":4718.65,"end":4719.13},{"text":"an","start":4719.13,"end":4719.29},{"text":"environment","start":4721.29,"end":4721.97},{"text":"for","start":4721.97,"end":4722.17},{"text":"private","start":4722.17,"end":4722.49},{"text":"sector","start":4722.49,"end":4722.81},{"text":"to","start":4722.81,"end":4722.93},{"text":"develop?","start":4722.93,"end":4723.41}]},{"text":"Is it infrastructure development?","start":4724.17,"end":4725.65,"topics":[],"words":[{"text":"Is","start":4724.17,"end":4724.33},{"text":"it","start":4724.33,"end":4724.41},{"text":"infrastructure","start":4724.41,"end":4725.05},{"text":"development?","start":4725.05,"end":4725.65}]},{"text":"So we think debt, it's important to have 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to think debt as a mean to end.","start":4738.09,"end":4742.57,"topics":[],"words":[{"text":"We","start":4738.09,"end":4738.33},{"text":"have","start":4738.33,"end":4738.73},{"text":"to","start":4739.01,"end":4739.09},{"text":"think","start":4739.09,"end":4739.37},{"text":"debt","start":4739.37,"end":4739.69},{"text":"as","start":4740.33,"end":4740.81},{"text":"a","start":4740.97,"end":4741.05},{"text":"mean","start":4741.05,"end":4741.61},{"text":"to","start":4741.77,"end":4741.93},{"text":"end.","start":4741.93,"end":4742.57}]},{"text":"The end is sustainable development.","start":4742.81,"end":4745.93,"topics":[],"words":[{"text":"The","start":4742.81,"end":4742.93},{"text":"end","start":4742.93,"end":4743.45},{"text":"is","start":4743.61,"end":4743.81},{"text":"sustainable","start":4743.81,"end":4744.57},{"text":"development.","start":4745.29,"end":4745.93}]},{"text":"I come from a country, Cabo Verde, a SIDS, Small Island Developing 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you, sir, have three minutes for your intervention.","start":4928.69,"end":4932.33,"topics":[],"words":[{"text":"And","start":4928.69,"end":4929.05},{"text":"you,","start":4929.05,"end":4929.21},{"text":"sir,","start":4929.21,"end":4929.53},{"text":"have","start":4929.53,"end":4930.01},{"text":"three","start":4930.09,"end":4930.49},{"text":"minutes","start":4930.49,"end":4931.05},{"text":"for","start":4931.05,"end":4931.29},{"text":"your","start":4931.29,"end":4931.49},{"text":"intervention.","start":4931.49,"end":4932.33}]},{"text":"You have the 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a practical expression of solidarity.","start":5013.13,"end":5014.97,"topics":[],"words":[{"text":"It's","start":5013.13,"end":5013.37},{"text":"a","start":5013.37,"end":5013.41},{"text":"practical","start":5013.41,"end":5013.81},{"text":"expression","start":5013.81,"end":5014.25},{"text":"of","start":5014.25,"end":5014.33},{"text":"solidarity.","start":5014.33,"end":5014.97}]},{"text":"We are also incorporating post clauses that allow for temporary debt relief in the event of climate disasters or macroeconomic 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blended finance and concessionality.","start":5023.09,"end":5025.73,"topics":[],"words":[{"text":"Secondly,","start":5023.09,"end":5023.65},{"text":"blended","start":5023.97,"end":5024.33},{"text":"finance","start":5024.33,"end":5024.77},{"text":"and","start":5024.77,"end":5024.93},{"text":"concessionality.","start":5024.93,"end":5025.73}]},{"text":"While we are not concessional lenders by design, we are leveraging blended finance to de-risk projects and crowding private capital in strategic sectors from green infrastructure to regional industrialization, especially where traditional financing is scarce or cost 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Local currency financing.","start":5042.85,"end":5045.29,"topics":[],"words":[{"text":"Thirdly,","start":5042.85,"end":5043.41},{"text":"Local","start":5044.01,"end":5044.33},{"text":"currency","start":5044.33,"end":5044.73},{"text":"financing.","start":5044.73,"end":5045.29}]},{"text":"A key lesson from recent crisis is the vulnerability that comes from excessive dependence on foreign currency 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the FFED4 process rapidly evolves, it is critical that the outcome document moves beyond producing a carefully negotiated text and instead focus on clear actionable targets with political commitments, responsibilities, and follow-up 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welcomes the initiation of an intergovernmental process that is particularly aimed at narrowing key differences in the debt architecture and on standardizing state contingent debt closed during the crisis.","start":5405.93,"end":5419.45,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. 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thank you, Madam Moderator.","start":5478.01,"end":5479.05,"topics":[],"words":[{"text":"I","start":5478.01,"end":5478.09},{"text":"thank","start":5478.09,"end":5478.33},{"text":"you,","start":5478.33,"end":5478.41},{"text":"Madam","start":5478.41,"end":5478.61},{"text":"Moderator.","start":5478.61,"end":5479.05}]}]}],"speaker":{"name":null,"affiliation":"ETH","affiliation_full":"Ethiopia","group":null,"function":"Representative"}},{"statement_number":57,"start":5480.25,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=5481","paragraphs":[{"sentences":[{"text":"Thank you very much.","start":5480.25,"end":5481.13,"topics":[],"words":[{"text":"Thank","start":5480.25,"end":5480.49},{"text":"you","start":5480.49,"end":5480.57},{"text":"very","start":5480.57,"end":5480.81},{"text":"much.","start":5480.81,"end":5481.13}]},{"text":"I then give the floor to the representative of Pakistan to be followed by Bangladesh, and the list of speakers is now closed because it's very 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would like to hear more feedback on that.","start":5604.49,"end":5606.25,"topics":[],"words":[{"text":"We","start":5604.49,"end":5604.57},{"text":"would","start":5604.57,"end":5604.69},{"text":"like","start":5604.69,"end":5604.89},{"text":"to","start":5604.89,"end":5605.01},{"text":"hear","start":5605.01,"end":5605.29},{"text":"more","start":5605.29,"end":5605.45},{"text":"feedback","start":5605.45,"end":5605.85},{"text":"on","start":5605.85,"end":5606.01},{"text":"that.","start":5606.01,"end":5606.25}]}]}],"speaker":{"name":null,"affiliation":"PAK","affiliation_full":"Pakistan","group":null,"function":"Representative"}},{"statement_number":59,"start":5608.41,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=5609","paragraphs":[{"sentences":[{"text":"Thank you very much, Pakistan.","start":5608.41,"end":5610.01,"topics":[],"words":[{"text":"Thank","start":5608.41,"end":5608.65},{"text":"you","start":5608.65,"end":5608.73},{"text":"very","start":5608.73,"end":5608.89},{"text":"much,","start":5608.89,"end":5609.17},{"text":"Pakistan.","start":5609.21,"end":5610.01}]},{"text":"I then give the floor to the representative of Bangladesh, to be followed by the representative of 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Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"These","start":5625.69,"end":5625.85},{"text":"clauses","start":5625.85,"end":5626.25},{"text":"recognize","start":5626.25,"end":5626.81},{"text":"country-specific","start":5626.81,"end":5627.65},{"text":"context,","start":5627.65,"end":5628.33},{"text":"reduce","start":5628.33,"end":5628.81},{"text":"default","start":5628.81,"end":5629.29},{"text":"risk,","start":5629.29,"end":5629.77},{"text":"and","start":5629.93,"end":5630.09},{"text":"free","start":5630.09,"end":5630.33},{"text":"up","start":5630.33,"end":5630.41},{"text":"essential","start":5630.41,"end":5630.89},{"text":"resources","start":5630.89,"end":5631.53},{"text":"for","start":5631.77,"end":5631.93},{"text":"emergency","start":5631.93,"end":5632.37},{"text":"response","start":5632.37,"end":5633.05},{"text":"during","start":5633.05,"end":5633.33},{"text":"crisis.","start":5633.33,"end":5633.93}]},{"text":"We cannot become complacent just by stating that we will consider expanding the eligibility of debt sustainability support services to LDCs.","start":5634.49,"end":5643.05,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. 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Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Many","start":5648.81,"end":5649.09},{"text":"LDCs","start":5649.09,"end":5649.61},{"text":"face","start":5649.61,"end":5649.93},{"text":"debt","start":5650.01,"end":5650.33},{"text":"sustainability","start":5650.33,"end":5651.05},{"text":"challenges,","start":5651.05,"end":5651.61},{"text":"and","start":5651.61,"end":5651.81},{"text":"this","start":5651.81,"end":5652.01},{"text":"mechanism","start":5652.01,"end":5652.65},{"text":"can","start":5652.65,"end":5652.81},{"text":"provide","start":5652.81,"end":5653.37},{"text":"critical","start":5653.37,"end":5653.93},{"text":"support","start":5653.93,"end":5654.53},{"text":"tailored","start":5654.53,"end":5654.89},{"text":"to","start":5654.89,"end":5655.09},{"text":"our","start":5655.09,"end":5655.21},{"text":"unique","start":5655.21,"end":5655.69},{"text":"vulnerabilities.","start":5655.77,"end":5656.73}]},{"text":"At the same time, it is imperative to provide assistance to debtor countries to enhance debt management capacity, manage risks, and analyze trade-offs between different sources of financing.","start":5657.37,"end":5668.57,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"At","start":5657.37,"end":5657.49},{"text":"the","start":5657.49,"end":5657.61},{"text":"same","start":5657.61,"end":5657.85},{"text":"time,","start":5657.85,"end":5658.17},{"text":"it","start":5658.17,"end":5658.25},{"text":"is","start":5658.25,"end":5658.41},{"text":"imperative","start":5658.41,"end":5659.13},{"text":"to","start":5659.37,"end":5659.49},{"text":"provide","start":5659.49,"end":5659.93},{"text":"assistance","start":5659.93,"end":5660.45},{"text":"to","start":5660.45,"end":5660.57},{"text":"debtor","start":5660.57,"end":5660.89},{"text":"countries","start":5660.89,"end":5661.53},{"text":"to","start":5661.53,"end":5661.73},{"text":"enhance","start":5661.73,"end":5662.33},{"text":"debt","start":5662.33,"end":5662.65},{"text":"management","start":5662.65,"end":5663.13},{"text":"capacity,","start":5663.13,"end":5663.77},{"text":"manage","start":5664.09,"end":5664.49},{"text":"risks,","start":5664.49,"end":5664.97},{"text":"and","start":5664.97,"end":5665.21},{"text":"analyze","start":5665.21,"end":5665.77},{"text":"trade-offs","start":5665.93,"end":5666.49},{"text":"between","start":5666.49,"end":5667.05},{"text":"different","start":5667.05,"end":5667.49},{"text":"sources","start":5667.49,"end":5667.85},{"text":"of","start":5667.85,"end":5667.93},{"text":"financing.","start":5667.93,"end":5668.57}]},{"text":"We also call upon exploring innovative debt instruments, including debt forgiveness linked to climate resilience and climate adaptation investments.","start":5669.25,"end":5677.37,"topics":[{"key":"debt-swaps-resilience","label":"Debt Swaps for Sustainable Development","description":"Debt swaps were discussed as a tool to create fiscal space while supporting climate action, nature protection, and broader sustainable development goals. 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They proposed stronger oversight, improved methodologies, structured dialogue, and even possible public alternatives under multilateral frameworks."},{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Vulnerability","start":5690.41,"end":5691.21},{"text":"to","start":5691.21,"end":5691.33},{"text":"external","start":5691.33,"end":5691.81},{"text":"shocks,","start":5691.81,"end":5692.41},{"text":"climate,","start":5692.45,"end":5692.97},{"text":"and","start":5692.97,"end":5693.17},{"text":"social","start":5693.17,"end":5693.69},{"text":"indicators","start":5693.69,"end":5694.41},{"text":"will","start":5694.41,"end":5694.57},{"text":"help","start":5694.57,"end":5694.81},{"text":"reduce","start":5694.81,"end":5695.37},{"text":"unjust","start":5695.73,"end":5696.25},{"text":"borrowing","start":5696.25,"end":5696.65},{"text":"costs.","start":5696.65,"end":5697.13}]},{"text":"Debt sustainability assessments must be refined to better account for sustainable development spending and climate investment rates.","start":5697.89,"end":5705.25,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Debt","start":5697.89,"end":5698.13},{"text":"sustainability","start":5698.13,"end":5698.81},{"text":"assessments","start":5698.81,"end":5699.57},{"text":"must","start":5699.57,"end":5699.89},{"text":"be","start":5699.89,"end":5700.05},{"text":"refined","start":5700.05,"end":5700.61},{"text":"to","start":5700.61,"end":5700.73},{"text":"better","start":5700.73,"end":5701.05},{"text":"account","start":5701.05,"end":5701.73},{"text":"for","start":5701.89,"end":5702.13},{"text":"sustainable","start":5702.13,"end":5702.77},{"text":"development","start":5702.77,"end":5703.33},{"text":"spending","start":5703.33,"end":5703.85},{"text":"and","start":5703.85,"end":5704.01},{"text":"climate","start":5704.01,"end":5704.33},{"text":"investment","start":5704.33,"end":5704.85},{"text":"rates.","start":5704.85,"end":5705.25}]},{"text":"Overemphasizing fiscal consolidation and austerity penalizes much needed investments in human capital, infrastructure, and climate resilience.","start":5706.05,"end":5714.61,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Overemphasizing","start":5706.05,"end":5707.01},{"text":"fiscal","start":5707.01,"end":5707.41},{"text":"consolidation","start":5707.41,"end":5708.37},{"text":"and","start":5708.37,"end":5708.69},{"text":"austerity","start":5708.69,"end":5709.13},{"text":"penalizes","start":5709.13,"end":5709.89},{"text":"much","start":5709.89,"end":5710.21},{"text":"needed","start":5710.21,"end":5710.53},{"text":"investments","start":5710.53,"end":5711.33},{"text":"in","start":5711.33,"end":5711.49},{"text":"human","start":5711.49,"end":5711.81},{"text":"capital,","start":5711.81,"end":5712.37},{"text":"infrastructure,","start":5712.69,"end":5713.45},{"text":"and","start":5713.45,"end":5713.61},{"text":"climate","start":5713.61,"end":5713.89},{"text":"resilience.","start":5713.89,"end":5714.61}]},{"text":"We must redesign the methodologies to support, not stifle, sustainable development.","start":5715.17,"end":5721.17,"topics":[{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Tunisia","start":6153.29,"end":6153.65},{"text":"is","start":6153.65,"end":6153.73},{"text":"committed","start":6153.73,"end":6154.29},{"text":"to","start":6154.29,"end":6154.41},{"text":"implementing","start":6154.41,"end":6155.09},{"text":"reforms","start":6155.09,"end":6155.65},{"text":"that","start":6155.65,"end":6155.89},{"text":"will","start":6155.89,"end":6156.05},{"text":"strengthen","start":6156.05,"end":6156.53},{"text":"its","start":6156.53,"end":6156.77},{"text":"debt","start":6156.77,"end":6156.93},{"text":"management","start":6156.93,"end":6157.49},{"text":"framework,","start":6157.49,"end":6158.05},{"text":"ensuring","start":6158.41,"end":6158.89},{"text":"that","start":6158.89,"end":6159.09},{"text":"borrowing","start":6159.09,"end":6159.57},{"text":"remains","start":6159.57,"end":6160.05},{"text":"within","start":6160.05,"end":6160.33},{"text":"manageable","start":6160.33,"end":6160.81},{"text":"limits","start":6160.81,"end":6161.33},{"text":"and","start":6161.57,"end":6161.77},{"text":"that","start":6161.77,"end":6161.89},{"text":"debt","start":6161.89,"end":6162.13},{"text":"servicing","start":6162.13,"end":6162.77},{"text":"does","start":6162.77,"end":6163.01},{"text":"not","start":6163.01,"end":6163.17},{"text":"further","start":6163.17,"end":6163.57},{"text":"burden","start":6163.57,"end":6163.97},{"text":"essential","start":6163.97,"end":6164.61},{"text":"public","start":6164.61,"end":6164.97},{"text":"spending","start":6164.97,"end":6165.57},{"text":"in","start":6165.73,"end":6165.97},{"text":"areas","start":6165.97,"end":6166.33},{"text":"such","start":6166.33,"end":6166.61},{"text":"as","start":6166.61,"end":6166.77},{"text":"education,","start":6166.77,"end":6167.41},{"text":"health","start":6167.41,"end":6167.73},{"text":"and","start":6167.73,"end":6167.97},{"text":"infrastructure.","start":6167.97,"end":6168.77}]},{"text":"In this context, Tunisia is collaborating with the UN Economic and Social Commission for Western Asia, ESCWA, on the Climate SDGs Debt Swap Initiative.","start":6169.57,"end":6178.97,"topics":[{"key":"debt-swaps-resilience","label":"Debt Swaps for Sustainable Development","description":"Debt swaps were discussed as a tool to create fiscal space while supporting climate action, nature protection, and broader sustainable development goals. Speakers emphasized the need to reduce transaction costs, provide technical support, and adapt these instruments to country-specific circumstances."}],"words":[{"text":"In","start":6169.57,"end":6169.69},{"text":"this","start":6169.69,"end":6169.93},{"text":"context,","start":6169.93,"end":6170.49},{"text":"Tunisia","start":6170.73,"end":6171.13},{"text":"is","start":6171.13,"end":6171.21},{"text":"collaborating","start":6171.21,"end":6171.93},{"text":"with","start":6171.93,"end":6172.21},{"text":"the","start":6172.21,"end":6172.29},{"text":"UN","start":6172.29,"end":6172.65},{"text":"Economic","start":6172.65,"end":6173.13},{"text":"and","start":6173.13,"end":6173.29},{"text":"Social","start":6173.29,"end":6173.65},{"text":"Commission","start":6173.65,"end":6174.09},{"text":"for","start":6174.09,"end":6174.33},{"text":"Western","start":6174.33,"end":6174.73},{"text":"Asia,","start":6174.73,"end":6175.21},{"text":"ESCWA,","start":6175.21,"end":6175.77},{"text":"on","start":6176.01,"end":6176.13},{"text":"the","start":6176.13,"end":6176.25},{"text":"Climate","start":6176.25,"end":6176.73},{"text":"SDGs","start":6176.73,"end":6177.53},{"text":"Debt","start":6177.61,"end":6177.85},{"text":"Swap","start":6177.85,"end":6178.33},{"text":"Initiative.","start":6178.33,"end":6178.97}]},{"text":"This program aims to alleviate Tunisia's debt burden while channeling resources into sustainable development and climate adaptation projects.","start":6179.29,"end":6189.05,"topics":[{"key":"debt-swaps-resilience","label":"Debt Swaps for Sustainable Development","description":"Debt swaps were discussed as a tool to create fiscal space while supporting climate action, nature protection, and broader sustainable development goals. 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Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"Number","start":6249.25,"end":6249.65},{"text":"one,","start":6249.65,"end":6249.97},{"text":"developing","start":6250.21,"end":6250.93},{"text":"countries","start":6250.93,"end":6251.57},{"text":"face","start":6251.57,"end":6252.21},{"text":"strict","start":6252.53,"end":6253.01},{"text":"conditions","start":6253.01,"end":6253.65},{"text":"in","start":6253.65,"end":6253.77},{"text":"terms","start":6253.77,"end":6254.05},{"text":"of","start":6254.05,"end":6254.13},{"text":"accessing","start":6254.13,"end":6254.77},{"text":"credit,","start":6254.77,"end":6255.37},{"text":"which","start":6255.37,"end":6255.61},{"text":"are","start":6255.61,"end":6255.73},{"text":"imposed","start":6255.73,"end":6256.37},{"text":"on","start":6256.37,"end":6256.61},{"text":"public","start":6256.61,"end":6256.97},{"text":"investment","start":6256.97,"end":6257.57},{"text":"programmes.","start":6257.57,"end":6258.29}]},{"text":"in development and mean that they have to decide whether or not they pay more or they have to invest in their people.","start":6259.69,"end":6266.85,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. 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The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"Developed","start":6301.33,"end":6301.81},{"text":"countries","start":6301.81,"end":6302.53},{"text":"control","start":6303.01,"end":6303.89},{"text":"decision-making","start":6303.97,"end":6304.85},{"text":"bodies","start":6304.85,"end":6305.33},{"text":"within","start":6305.33,"end":6305.81},{"text":"multilateral","start":6305.81,"end":6306.37},{"text":"institutions.","start":6306.37,"end":6307.25}]},{"text":"This means that they impose priorities that are not aligned with the needs of countries of the global south.","start":6307.57,"end":6314.21,"topics":[{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"This","start":6307.57,"end":6307.89},{"text":"means","start":6308.05,"end":6308.69},{"text":"that","start":6308.85,"end":6309.25},{"text":"they","start":6309.53,"end":6309.97},{"text":"impose","start":6310.13,"end":6310.69},{"text":"priorities","start":6310.69,"end":6311.33},{"text":"that","start":6311.33,"end":6311.49},{"text":"are","start":6311.49,"end":6311.57},{"text":"not","start":6311.57,"end":6311.73},{"text":"aligned","start":6311.73,"end":6312.13},{"text":"with","start":6312.13,"end":6312.29},{"text":"the","start":6312.29,"end":6312.37},{"text":"needs","start":6312.37,"end":6312.73},{"text":"of","start":6312.73,"end":6312.85},{"text":"countries","start":6312.85,"end":6313.21},{"text":"of","start":6313.21,"end":6313.29},{"text":"the","start":6313.29,"end":6313.37},{"text":"global","start":6313.37,"end":6313.73},{"text":"south.","start":6313.73,"end":6314.21}]},{"text":"Five, Credit rating agencies unfairly penalize developing countries, which means that it drives up their cost of debt, making it difficult to measure, to carry out debt swaps, et cetera.","start":6314.77,"end":6332.01,"topics":[{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. 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Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Likewise,","start":6332.65,"end":6333.29},{"text":"there","start":6333.29,"end":6333.53},{"text":"is","start":6333.53,"end":6333.69},{"text":"unequal","start":6333.69,"end":6334.17},{"text":"treatment","start":6334.17,"end":6334.89},{"text":"for","start":6335.45,"end":6336.13},{"text":"countries","start":6336.97,"end":6337.69},{"text":"that","start":6337.69,"end":6338.01},{"text":"have","start":6338.01,"end":6338.33},{"text":"limitations","start":6338.41,"end":6339.37},{"text":"in","start":6339.37,"end":6339.93},{"text":"debt","start":6340.09,"end":6340.33},{"text":"eradication,","start":6340.33,"end":6341.13},{"text":"to","start":6341.13,"end":6341.29},{"text":"debt","start":6341.29,"end":6341.49},{"text":"eradication","start":6341.49,"end":6342.33},{"text":"or","start":6343.77,"end":6343.97},{"text":"elimination.","start":6343.97,"end":6344.65}]},{"text":"We therefore think that action should be taken with developing countries that are not currently 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Tanzania.","start":6354.77,"end":6362.61,"topics":[],"words":[{"text":"I","start":6354.77,"end":6354.85},{"text":"now","start":6354.85,"end":6355.09},{"text":"give","start":6355.09,"end":6355.33},{"text":"the","start":6355.33,"end":6355.49},{"text":"floor","start":6355.49,"end":6355.81},{"text":"to","start":6355.81,"end":6356.01},{"text":"the","start":6356.13,"end":6356.25},{"text":"representative","start":6356.25,"end":6357.09},{"text":"of","start":6357.17,"end":6357.41},{"text":"Indonesia,","start":6357.41,"end":6358.01},{"text":"to","start":6358.21,"end":6358.45},{"text":"be","start":6358.45,"end":6358.61},{"text":"followed","start":6358.61,"end":6359.17},{"text":"by","start":6359.17,"end":6359.41},{"text":"the","start":6359.49,"end":6359.57},{"text":"representative","start":6359.57,"end":6360.45},{"text":"of","start":6360.45,"end":6360.69},{"text":"the","start":6360.69,"end":6360.81},{"text":"United","start":6360.81,"end":6361.25},{"text":"Republic","start":6361.25,"end":6361.73},{"text":"of","start":6361.73,"end":6361.89},{"text":"Tanzania.","start":6361.89,"end":6362.61}]},{"text":"Indonesia, you have the floor.","start":6362.77,"end":6364.21,"topics":[],"words":[{"text":"Indonesia,","start":6362.77,"end":6363.49},{"text":"you","start":6363.49,"end":6363.61},{"text":"have","start":6363.61,"end":6363.81},{"text":"the","start":6363.81,"end":6363.89},{"text":"floor.","start":6363.89,"end":6364.21}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-facilitator"}},{"statement_number":72,"start":6364.97,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=6365","paragraphs":[{"sentences":[{"text":"Thank you, Madam co-facilitator.","start":6364.97,"end":6366.69,"topics":[],"words":[{"text":"Thank","start":6364.97,"end":6365.17},{"text":"you,","start":6365.17,"end":6365.33},{"text":"Madam","start":6365.33,"end":6365.53},{"text":"co-facilitator.","start":6365.53,"end":6366.69}]},{"text":"Indonesia strongly supports our collective commitment to advancing debt sustainability as reflected in the current draft.","start":6367.09,"end":6373.93,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"Indonesia","start":6367.09,"end":6367.73},{"text":"strongly","start":6367.73,"end":6368.29},{"text":"supports","start":6368.29,"end":6368.85},{"text":"our","start":6368.85,"end":6369.17},{"text":"collective","start":6369.17,"end":6369.65},{"text":"commitment","start":6369.65,"end":6370.33},{"text":"to","start":6370.33,"end":6370.45},{"text":"advancing","start":6370.45,"end":6371.09},{"text":"debt","start":6371.09,"end":6371.29},{"text":"sustainability","start":6371.29,"end":6372.13},{"text":"as","start":6372.13,"end":6372.25},{"text":"reflected","start":6372.25,"end":6372.93},{"text":"in","start":6372.93,"end":6373.09},{"text":"the","start":6373.09,"end":6373.21},{"text":"current","start":6373.21,"end":6373.61},{"text":"draft.","start":6373.61,"end":6373.93}]},{"text":"We would like to share a few key inputs.","start":6374.29,"end":6376.37,"topics":[],"words":[{"text":"We","start":6374.29,"end":6374.41},{"text":"would","start":6374.41,"end":6374.53},{"text":"like","start":6374.53,"end":6374.77},{"text":"to","start":6374.77,"end":6374.85},{"text":"share","start":6374.85,"end":6375.33},{"text":"a","start":6375.33,"end":6375.41},{"text":"few","start":6375.41,"end":6375.73},{"text":"key","start":6375.73,"end":6375.89},{"text":"inputs.","start":6375.89,"end":6376.37}]},{"text":"First, we observe that the proposed reform of the common framework remains largely aspirational without clear commitments to make it genuinely faster, more authentic, and truly inclusive.","start":6376.77,"end":6389.49,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."}],"words":[{"text":"First,","start":6376.77,"end":6377.09},{"text":"we","start":6377.65,"end":6377.77},{"text":"observe","start":6377.81,"end":6378.33},{"text":"that","start":6378.33,"end":6378.61},{"text":"the","start":6378.61,"end":6378.77},{"text":"proposed","start":6378.77,"end":6379.33},{"text":"reform","start":6379.33,"end":6379.81},{"text":"of","start":6379.81,"end":6379.97},{"text":"the","start":6379.97,"end":6380.05},{"text":"common","start":6380.05,"end":6380.45},{"text":"framework","start":6380.45,"end":6381.01},{"text":"remains","start":6381.25,"end":6381.73},{"text":"largely","start":6381.73,"end":6382.45},{"text":"aspirational","start":6382.69,"end":6383.57},{"text":"without","start":6383.81,"end":6384.21},{"text":"clear","start":6384.21,"end":6384.53},{"text":"commitments","start":6384.53,"end":6385.09},{"text":"to","start":6385.09,"end":6385.21},{"text":"make","start":6385.21,"end":6385.41},{"text":"it","start":6385.41,"end":6385.57},{"text":"genuinely","start":6385.57,"end":6386.13},{"text":"faster,","start":6386.13,"end":6386.85},{"text":"more","start":6386.85,"end":6387.13},{"text":"authentic,","start":6387.13,"end":6387.65},{"text":"and","start":6387.65,"end":6387.93},{"text":"truly","start":6387.93,"end":6388.45},{"text":"inclusive.","start":6388.93,"end":6389.49}]},{"text":"Furthermore, the current reliance on voluntary debt service suspension during restructuring negotiation risk continuing to strain debtor countries precisely at the moment when fiscal space is most critically needed.","start":6389.89,"end":6402.37,"topics":[{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. 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distinguished panelists.","start":7589.63,"end":7592.83,"topics":[],"words":[{"text":"I","start":7589.63,"end":7589.75},{"text":"am","start":7589.75,"end":7589.87},{"text":"pleased","start":7589.87,"end":7590.23},{"text":"to","start":7590.23,"end":7590.31},{"text":"welcome","start":7590.31,"end":7590.83},{"text":"our","start":7590.83,"end":7590.99},{"text":"distinguished","start":7590.99,"end":7591.87},{"text":"panelists.","start":7592.15,"end":7592.83}]},{"text":"for this discussion.","start":7593.27,"end":7594.47,"topics":[],"words":[{"text":"for","start":7593.27,"end":7593.51},{"text":"this","start":7593.51,"end":7593.75},{"text":"discussion.","start":7593.75,"end":7594.47}]},{"text":"Excellencies, distinguished delegates, on behalf of my co-facilitators, Ambassador Alicia, it is my pleasure to moderate this panel discussion on science, technology, innovation and capacity 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multifaceted challenges like this require multi-stakeholder solutions.","start":7964.71,"end":7969.99,"topics":[],"words":[{"text":"Second,","start":7964.71,"end":7965.35},{"text":"multifaceted","start":7965.51,"end":7966.31},{"text":"challenges","start":7966.31,"end":7966.87},{"text":"like","start":7966.87,"end":7967.03},{"text":"this","start":7967.03,"end":7967.59},{"text":"require","start":7967.83,"end":7968.39},{"text":"multi-stakeholder","start":7968.39,"end":7969.35},{"text":"solutions.","start":7969.35,"end":7969.99}]},{"text":"Over the last two days in the Ecosoc Forum on Financing for Development, we all heard from a variety of sources, from people from different backgrounds, representing different 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this is good because we tend to get stuck in our own echo chamber a lot of the 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what we want to see is investing in youth and young people to drive SDI.","start":8008.35,"end":8013.35,"topics":[],"words":[{"text":"Similarly,","start":8008.35,"end":8008.99},{"text":"what","start":8008.99,"end":8009.23},{"text":"we","start":8009.23,"end":8009.31},{"text":"want","start":8009.31,"end":8009.51},{"text":"to","start":8009.51,"end":8009.59},{"text":"see","start":8009.59,"end":8009.79},{"text":"is","start":8009.79,"end":8010.11},{"text":"investing","start":8010.27,"end":8010.83},{"text":"in","start":8010.83,"end":8010.99},{"text":"youth","start":8010.99,"end":8011.47},{"text":"and","start":8011.63,"end":8011.83},{"text":"young","start":8011.83,"end":8012.03},{"text":"people","start":8012.03,"end":8012.51},{"text":"to","start":8012.51,"end":8012.63},{"text":"drive","start":8012.63,"end":8012.99},{"text":"SDI.","start":8012.99,"end":8013.35}]},{"text":"They're the custodians of the 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The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"Leaving","start":8078.91,"end":8079.15},{"text":"no","start":8079.15,"end":8079.83},{"text":"one","start":8079.83,"end":8080.03},{"text":"behind","start":8080.03,"end":8080.43},{"text":"means","start":8080.43,"end":8080.91},{"text":"listening","start":8081.07,"end":8081.55},{"text":"to","start":8081.55,"end":8081.63},{"text":"the","start":8081.63,"end":8081.75},{"text":"underrepresented,","start":8081.75,"end":8082.51},{"text":"making","start":8082.51,"end":8082.83},{"text":"sure","start":8082.83,"end":8082.99},{"text":"they","start":8082.99,"end":8083.07},{"text":"have","start":8083.07,"end":8083.23},{"text":"a","start":8083.23,"end":8083.27},{"text":"seat","start":8083.27,"end":8083.87},{"text":"at","start":8083.87,"end":8083.99},{"text":"the","start":8083.99,"end":8084.07},{"text":"table.","start":8084.07,"end":8084.51}]},{"text":"Multi-stakeholder collaboration and solutions can lead to progress, and we must strengthen state capacity and invest in data.","start":8084.91,"end":8092.59,"topics":[{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. 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much.","start":8092.67,"end":8093.39,"topics":[],"words":[{"text":"Thank","start":8092.67,"end":8092.83},{"text":"you","start":8092.83,"end":8092.91},{"text":"very","start":8092.91,"end":8093.07},{"text":"much.","start":8093.07,"end":8093.39}]}]}],"speaker":{"name":"Ahmad Salman Zaki","affiliation":"MDV","affiliation_full":"Maldives","group":null,"function":"Director"}},{"statement_number":93,"start":8095.55,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=8096","paragraphs":[{"sentences":[{"text":"I thank Director Mr. Zaki for his comprehensive presentations.","start":8095.55,"end":8100.75,"topics":[],"words":[{"text":"I","start":8095.55,"end":8095.71},{"text":"thank","start":8095.79,"end":8096.19},{"text":"Director","start":8096.27,"end":8096.95},{"text":"Mr.","start":8097.07,"end":8097.43},{"text":"Zaki","start":8097.43,"end":8097.95},{"text":"for","start":8097.95,"end":8098.19},{"text":"his","start":8098.19,"end":8098.51},{"text":"comprehensive","start":8099.15,"end":8099.75},{"text":"presentations.","start":8099.75,"end":8100.75}]},{"text":"And now I give the floor to Ms. Louise Brew, Vice President of the Humanitarian and Development Team, is the 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afternoon, your excellencies and my co-presenters.","start":8112.03,"end":8115.15,"topics":[],"words":[{"text":"Good","start":8112.03,"end":8112.19},{"text":"afternoon,","start":8112.19,"end":8112.59},{"text":"your","start":8112.59,"end":8112.75},{"text":"excellencies","start":8112.75,"end":8113.39},{"text":"and","start":8113.55,"end":8113.71},{"text":"my","start":8113.71,"end":8113.95},{"text":"co-presenters.","start":8113.95,"end":8115.15}]},{"text":"It's a pleasure to be with you this afternoon.","start":8115.55,"end":8117.39,"topics":[],"words":[{"text":"It's","start":8115.55,"end":8115.79},{"text":"a","start":8115.79,"end":8115.83},{"text":"pleasure","start":8115.83,"end":8116.11},{"text":"to","start":8116.11,"end":8116.19},{"text":"be","start":8116.19,"end":8116.31},{"text":"with","start":8116.31,"end":8116.43},{"text":"you","start":8116.43,"end":8116.55},{"text":"this","start":8116.55,"end":8116.75},{"text":"afternoon.","start":8116.75,"end":8117.39}]},{"text":"I was delighted 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all know that technology innovations tend to happen in silos, and with that we'll never be able to build on the successes that each individual initiative is 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we need a coordinated approach to innovation and sustainable development with each sector doing what they do 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focus on regulations that protect its citizens and regulate the markets, having NGOs go where the government doesn't go, have the private sector do innovation and scaling, and have the philanthropic sector go where the private sector doesn't go and do de-risking, which is a very important role in that.","start":8156.27,"end":8179.23,"topics":[],"words":[{"text":"So","start":8156.27,"end":8156.59},{"text":"having","start":8156.59,"end":8156.87},{"text":"the","start":8156.87,"end":8156.95},{"text":"government","start":8156.95,"end":8157.63},{"text":"focus","start":8158.43,"end":8158.71},{"text":"on","start":8158.71,"end":8158.83},{"text":"regulations","start":8158.83,"end":8159.51},{"text":"that","start":8159.51,"end":8159.63},{"text":"protect","start":8159.63,"end":8160.03},{"text":"its","start":8160.03,"end":8160.23},{"text":"citizens","start":8160.23,"end":8160.83},{"text":"and","start":8160.83,"end":8160.95},{"text":"regulate","start":8160.95,"end":8161.47},{"text":"the","start":8161.47,"end":8161.55},{"text":"markets,","start":8161.55,"end":8162.27},{"text":"having","start":8162.67,"end":8163.31},{"text":"NGOs","start":8163.31,"end":8164.27},{"text":"go","start":8164.75,"end":8164.99},{"text":"where","start":8164.99,"end":8165.15},{"text":"the","start":8165.15,"end":8165.23},{"text":"government","start":8165.55,"end":8165.99},{"text":"doesn't","start":8165.99,"end":8166.31},{"text":"go,","start":8166.31,"end":8166.59},{"text":"have","start":8166.99,"end":8167.23},{"text":"the","start":8167.23,"end":8167.31},{"text":"private","start":8167.31,"end":8167.71},{"text":"sector","start":8167.71,"end":8168.03},{"text":"do","start":8168.03,"end":8168.59},{"text":"innovation","start":8168.75,"end":8169.47},{"text":"and","start":8169.47,"end":8169.63},{"text":"scaling,","start":8169.63,"end":8170.35},{"text":"and","start":8170.83,"end":8170.99},{"text":"have","start":8170.99,"end":8171.23},{"text":"the","start":8171.55,"end":8171.71},{"text":"philanthropic","start":8171.71,"end":8173.19},{"text":"sector","start":8173.19,"end":8173.79},{"text":"go","start":8174.19,"end":8174.43},{"text":"where","start":8174.43,"end":8174.59},{"text":"the","start":8174.59,"end":8174.67},{"text":"private","start":8174.67,"end":8175.03},{"text":"sector","start":8175.03,"end":8175.27},{"text":"doesn't","start":8175.27,"end":8175.59},{"text":"go","start":8175.59,"end":8175.95},{"text":"and","start":8175.95,"end":8176.15},{"text":"do","start":8176.15,"end":8176.51},{"text":"de-risking,","start":8177.15,"end":8177.71},{"text":"which","start":8177.71,"end":8177.91},{"text":"is","start":8177.91,"end":8177.99},{"text":"a","start":8177.99,"end":8178.03},{"text":"very","start":8178.03,"end":8178.23},{"text":"important","start":8178.23,"end":8178.67},{"text":"role","start":8178.67,"end":8178.87},{"text":"in","start":8178.87,"end":8178.95},{"text":"that.","start":8178.95,"end":8179.23}]},{"text":"Mastercard approaches sustainable tech, sustainable technological development through the building of ecosystems.","start":8180.19,"end":8189.23,"topics":[],"words":[{"text":"Mastercard","start":8180.19,"end":8180.71},{"text":"approaches","start":8180.71,"end":8181.63},{"text":"sustainable","start":8183.07,"end":8183.63},{"text":"tech,","start":8183.63,"end":8183.87},{"text":"sustainable","start":8184.19,"end":8185.39},{"text":"technological","start":8185.63,"end":8186.35},{"text":"development","start":8186.35,"end":8187.07},{"text":"through","start":8187.39,"end":8187.63},{"text":"the","start":8187.63,"end":8187.79},{"text":"building","start":8187.79,"end":8188.15},{"text":"of","start":8188.15,"end":8188.27},{"text":"ecosystems.","start":8188.39,"end":8189.23}]},{"text":"And we build technological ecosystems as well as partnership 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those.","start":8195.07,"end":8197.15,"topics":[],"words":[{"text":"So","start":8195.07,"end":8195.15},{"text":"let","start":8195.15,"end":8195.27},{"text":"me","start":8195.27,"end":8195.39},{"text":"just","start":8195.39,"end":8195.55},{"text":"take","start":8195.55,"end":8195.71},{"text":"a","start":8195.71,"end":8195.79},{"text":"moment","start":8195.79,"end":8196.11},{"text":"on","start":8196.11,"end":8196.35},{"text":"each","start":8196.35,"end":8196.59},{"text":"of","start":8196.59,"end":8196.67},{"text":"those.","start":8196.67,"end":8197.15}]},{"text":"For technology ecosystems, We have built a, much the way we did for our core business in the banking sector, we have built a technology platform for rural communities in developing countries to connect the agriculture ecosystem.","start":8198.27,"end":8215.39,"topics":[],"words":[{"text":"For","start":8198.27,"end":8198.43},{"text":"technology","start":8198.43,"end":8199.15},{"text":"ecosystems,","start":8199.15,"end":8200.03},{"text":"We","start":8200.51,"end":8200.67},{"text":"have","start":8200.67,"end":8200.83},{"text":"built","start":8200.83,"end":8201.31},{"text":"a,","start":8202.03,"end":8202.11},{"text":"much","start":8202.11,"end":8202.43},{"text":"the","start":8202.43,"end":8202.55},{"text":"way","start":8202.55,"end":8202.67},{"text":"we","start":8202.67,"end":8202.83},{"text":"did","start":8202.83,"end":8203.15},{"text":"for","start":8203.15,"end":8203.71},{"text":"our","start":8203.71,"end":8203.87},{"text":"core","start":8203.87,"end":8204.19},{"text":"business","start":8204.19,"end":8204.63},{"text":"in","start":8204.63,"end":8204.75},{"text":"the","start":8204.75,"end":8204.83},{"text":"banking","start":8204.83,"end":8205.23},{"text":"sector,","start":8205.23,"end":8205.79},{"text":"we","start":8206.11,"end":8206.51},{"text":"have","start":8206.67,"end":8206.91},{"text":"built","start":8206.91,"end":8207.15},{"text":"a","start":8207.15,"end":8207.23},{"text":"technology","start":8207.23,"end":8207.87},{"text":"platform","start":8207.87,"end":8208.67},{"text":"for","start":8208.99,"end":8209.75},{"text":"rural","start":8209.75,"end":8210.11},{"text":"communities","start":8210.11,"end":8210.91},{"text":"in","start":8210.91,"end":8211.11},{"text":"developing","start":8211.11,"end":8211.55},{"text":"countries","start":8211.55,"end":8212.19},{"text":"to","start":8212.43,"end":8212.59},{"text":"connect","start":8212.59,"end":8213.15},{"text":"the","start":8213.71,"end":8214.07},{"text":"agriculture","start":8214.07,"end":8214.83},{"text":"ecosystem.","start":8214.87,"end":8215.39}]},{"text":"So smallholder farmers, connect them with the cooperatives they work with, connect them with lenders who can give them credit, connect them with input providers who can give them quality seed and fertilizer to increase their inputs.","start":8215.39,"end":8228.51,"topics":[],"words":[{"text":"So","start":8215.39,"end":8215.87},{"text":"smallholder","start":8215.87,"end":8216.51},{"text":"farmers,","start":8216.51,"end":8217.15},{"text":"connect","start":8217.39,"end":8217.83},{"text":"them","start":8217.83,"end":8217.99},{"text":"with","start":8217.99,"end":8218.27},{"text":"the","start":8218.35,"end":8218.59},{"text":"cooperatives","start":8218.59,"end":8219.15},{"text":"they","start":8219.15,"end":8219.23},{"text":"work","start":8219.23,"end":8219.55},{"text":"with,","start":8219.55,"end":8219.71},{"text":"connect","start":8219.71,"end":8220.15},{"text":"them","start":8220.15,"end":8220.51},{"text":"with","start":8220.51,"end":8220.83},{"text":"lenders","start":8221.31,"end":8221.83},{"text":"who","start":8221.83,"end":8221.95},{"text":"can","start":8221.95,"end":8222.11},{"text":"give","start":8222.11,"end":8222.27},{"text":"them","start":8222.27,"end":8222.43},{"text":"credit,","start":8222.43,"end":8222.99},{"text":"connect","start":8223.31,"end":8223.63},{"text":"them","start":8223.63,"end":8223.75},{"text":"with","start":8223.75,"end":8223.87},{"text":"input","start":8223.87,"end":8224.19},{"text":"providers","start":8224.19,"end":8224.71},{"text":"who","start":8224.71,"end":8224.83},{"text":"can","start":8224.83,"end":8224.95},{"text":"give","start":8224.95,"end":8225.15},{"text":"them","start":8225.15,"end":8225.47},{"text":"quality","start":8225.71,"end":8226.19},{"text":"seed","start":8226.19,"end":8226.39},{"text":"and","start":8226.39,"end":8226.51},{"text":"fertilizer","start":8226.51,"end":8227.07},{"text":"to","start":8227.07,"end":8227.23},{"text":"increase","start":8227.23,"end":8227.71},{"text":"their","start":8227.71,"end":8227.95},{"text":"inputs.","start":8227.95,"end":8228.51}]},{"text":"And what this results in is farmers being able to digitize their transactions on this digital marketplace.","start":8229.83,"end":8236.19,"topics":[],"words":[{"text":"And","start":8229.83,"end":8229.91},{"text":"what","start":8229.91,"end":8230.07},{"text":"this","start":8230.07,"end":8230.27},{"text":"results","start":8230.27,"end":8230.75},{"text":"in","start":8230.75,"end":8231.07},{"text":"is","start":8231.07,"end":8231.55},{"text":"farmers","start":8231.71,"end":8232.27},{"text":"being","start":8232.27,"end":8232.59},{"text":"able","start":8232.59,"end":8232.75},{"text":"to","start":8232.75,"end":8232.87},{"text":"digitize","start":8232.87,"end":8233.59},{"text":"their","start":8233.59,"end":8233.79},{"text":"transactions","start":8233.79,"end":8234.67},{"text":"on","start":8234.75,"end":8234.99},{"text":"this","start":8234.99,"end":8235.15},{"text":"digital","start":8235.15,"end":8235.47},{"text":"marketplace.","start":8235.47,"end":8236.19}]},{"text":"So now bankers have visibility to the kinds of sales they're having, the kind of income they have.","start":8236.43,"end":8242.11,"topics":[],"words":[{"text":"So","start":8236.43,"end":8236.59},{"text":"now","start":8236.59,"end":8236.83},{"text":"bankers","start":8236.83,"end":8237.23},{"text":"have","start":8237.23,"end":8237.43},{"text":"visibility","start":8237.43,"end":8238.11},{"text":"to","start":8238.11,"end":8238.67},{"text":"the","start":8239.07,"end":8239.19},{"text":"kinds","start":8239.47,"end":8239.87},{"text":"of","start":8239.87,"end":8240.03},{"text":"sales","start":8240.03,"end":8240.39},{"text":"they're","start":8240.39,"end":8240.55},{"text":"having,","start":8240.55,"end":8240.79},{"text":"the","start":8240.79,"end":8240.87},{"text":"kind","start":8240.87,"end":8241.07},{"text":"of","start":8241.07,"end":8241.15},{"text":"income","start":8241.15,"end":8241.59},{"text":"they","start":8241.59,"end":8241.71},{"text":"have.","start":8241.71,"end":8242.11}]},{"text":"They become digitally visible for the first time and digitally included for the first time and are able to qualify for credit.","start":8242.35,"end":8249.23,"topics":[],"words":[{"text":"They","start":8242.35,"end":8242.51},{"text":"become","start":8242.51,"end":8242.99},{"text":"digitally","start":8243.47,"end":8243.95},{"text":"visible","start":8243.95,"end":8244.51},{"text":"for","start":8244.51,"end":8244.63},{"text":"the","start":8244.63,"end":8244.71},{"text":"first","start":8244.71,"end":8245.03},{"text":"time","start":8245.03,"end":8245.23},{"text":"and","start":8245.23,"end":8245.35},{"text":"digitally","start":8245.35,"end":8245.67},{"text":"included","start":8245.67,"end":8246.11},{"text":"for","start":8246.11,"end":8246.23},{"text":"the","start":8246.23,"end":8246.35},{"text":"first","start":8246.35,"end":8246.71},{"text":"time","start":8246.71,"end":8246.99},{"text":"and","start":8247.39,"end":8247.63},{"text":"are","start":8247.63,"end":8247.79},{"text":"able","start":8247.79,"end":8247.99},{"text":"to","start":8247.99,"end":8248.07},{"text":"qualify","start":8248.07,"end":8248.59},{"text":"for","start":8248.59,"end":8248.75},{"text":"credit.","start":8248.75,"end":8249.23}]},{"text":"They also have access to quality seed and fertilizers to improve their yields and access to buyers so that they can get increased prices.","start":8249.71,"end":8256.99,"topics":[],"words":[{"text":"They","start":8249.71,"end":8249.87},{"text":"also","start":8249.87,"end":8250.11},{"text":"have","start":8250.11,"end":8250.27},{"text":"access","start":8250.27,"end":8250.67},{"text":"to","start":8250.67,"end":8251.15},{"text":"quality","start":8251.15,"end":8251.47},{"text":"seed","start":8251.47,"end":8251.63},{"text":"and","start":8251.63,"end":8251.75},{"text":"fertilizers","start":8251.75,"end":8252.27},{"text":"to","start":8252.27,"end":8252.39},{"text":"improve","start":8252.39,"end":8252.71},{"text":"their","start":8252.71,"end":8252.91},{"text":"yields","start":8252.91,"end":8253.39},{"text":"and","start":8253.71,"end":8253.87},{"text":"access","start":8253.87,"end":8254.27},{"text":"to","start":8254.27,"end":8254.35},{"text":"buyers","start":8254.35,"end":8254.87},{"text":"so","start":8254.87,"end":8254.95},{"text":"that","start":8254.95,"end":8255.11},{"text":"they","start":8255.11,"end":8255.19},{"text":"can","start":8255.19,"end":8255.31},{"text":"get","start":8255.31,"end":8255.47},{"text":"increased","start":8255.47,"end":8256.27},{"text":"prices.","start":8256.27,"end":8256.99}]},{"text":"This is our technology approach to sustainable development and to ecosystem building.","start":8257.31,"end":8267.87,"topics":[],"words":[{"text":"This","start":8257.31,"end":8257.55},{"text":"is","start":8257.55,"end":8257.87},{"text":"our","start":8258.91,"end":8259.63},{"text":"technology","start":8259.87,"end":8260.71},{"text":"approach","start":8260.71,"end":8261.31},{"text":"to","start":8261.71,"end":8262.19},{"text":"sustainable","start":8264.11,"end":8264.67},{"text":"development","start":8264.67,"end":8265.31},{"text":"and","start":8266.19,"end":8266.43},{"text":"to","start":8266.43,"end":8266.99},{"text":"ecosystem","start":8267.03,"end":8267.47},{"text":"building.","start":8267.47,"end":8267.87}]},{"text":"Our partner approach to ecosystem building is something that we started a year ago.","start":8268.35,"end":8273.47,"topics":[],"words":[{"text":"Our","start":8268.35,"end":8268.91},{"text":"partner","start":8269.07,"end":8269.59},{"text":"approach","start":8269.59,"end":8270.03},{"text":"to","start":8270.03,"end":8270.19},{"text":"ecosystem","start":8270.19,"end":8270.71},{"text":"building","start":8270.71,"end":8271.23},{"text":"is","start":8271.23,"end":8271.71},{"text":"something","start":8271.71,"end":8272.11},{"text":"that","start":8272.11,"end":8272.23},{"text":"we","start":8272.23,"end":8272.35},{"text":"started","start":8272.35,"end":8272.71},{"text":"a","start":8272.71,"end":8272.75},{"text":"year","start":8272.75,"end":8272.95},{"text":"ago.","start":8272.95,"end":8273.47}]},{"text":"It's called the MADE Alliance, Mobilizing Access to the Digital Economy.","start":8274.15,"end":8277.87,"topics":[],"words":[{"text":"It's","start":8274.15,"end":8274.39},{"text":"called","start":8274.39,"end":8274.63},{"text":"the","start":8274.63,"end":8274.71},{"text":"MADE","start":8274.71,"end":8274.99},{"text":"Alliance,","start":8274.99,"end":8275.47},{"text":"Mobilizing","start":8275.47,"end":8276.11},{"text":"Access","start":8276.11,"end":8276.59},{"text":"to","start":8276.59,"end":8276.67},{"text":"the","start":8276.67,"end":8276.79},{"text":"Digital","start":8276.79,"end":8277.19},{"text":"Economy.","start":8277.19,"end":8277.87}]},{"text":"We are co-chairing this alliance with the African Development Bank and MasterCard, and the goal of the MADE Alliance is to provide critical digital services to 100 million individuals and businesses in Africa by 2034, a very ambitious 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the approach to getting there is actually quite simple.","start":8299.23,"end":8302.11,"topics":[],"words":[{"text":"But","start":8299.23,"end":8299.47},{"text":"the","start":8299.47,"end":8299.59},{"text":"approach","start":8299.63,"end":8300.19},{"text":"to","start":8300.19,"end":8300.31},{"text":"getting","start":8300.31,"end":8300.63},{"text":"there","start":8300.63,"end":8300.79},{"text":"is","start":8300.79,"end":8300.91},{"text":"actually","start":8300.91,"end":8301.23},{"text":"quite","start":8301.23,"end":8301.51},{"text":"simple.","start":8301.51,"end":8302.11}]},{"text":"The approach is for multi-sector stakeholders to coordinate their efforts into the same 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I'm happy to report about we're at our one year anniversary come May.","start":8327.15,"end":8331.87,"topics":[],"words":[{"text":"And","start":8327.15,"end":8327.27},{"text":"I'm","start":8327.43,"end":8327.63},{"text":"happy","start":8327.63,"end":8327.91},{"text":"to","start":8327.91,"end":8327.99},{"text":"report","start":8327.99,"end":8328.51},{"text":"about","start":8328.51,"end":8328.91},{"text":"we're","start":8329.15,"end":8329.55},{"text":"at","start":8329.55,"end":8329.67},{"text":"our","start":8329.67,"end":8329.79},{"text":"one","start":8329.79,"end":8329.95},{"text":"year","start":8329.95,"end":8330.11},{"text":"anniversary","start":8330.11,"end":8330.83},{"text":"come","start":8330.83,"end":8331.43},{"text":"May.","start":8331.43,"end":8331.87}]},{"text":"We have four live initiatives where we have multiple MAID partners working 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part of that alliance, we work with the Kenya National Farmers Federation, who organize the farmers in the last mile and help them with digital upskilling so they know how to use the 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here we have three MAID Alliance partners collaborating in the same villages.","start":8380.27,"end":8385.31,"topics":[],"words":[{"text":"So","start":8380.27,"end":8380.51},{"text":"here","start":8380.51,"end":8380.79},{"text":"we","start":8380.79,"end":8380.91},{"text":"have","start":8380.91,"end":8381.23},{"text":"three","start":8381.23,"end":8382.03},{"text":"MAID","start":8382.11,"end":8382.43},{"text":"Alliance","start":8382.43,"end":8382.87},{"text":"partners","start":8382.87,"end":8383.39},{"text":"collaborating","start":8383.39,"end":8384.27},{"text":"in","start":8384.27,"end":8384.43},{"text":"the","start":8384.43,"end":8384.51},{"text":"same","start":8384.51,"end":8384.83},{"text":"villages.","start":8384.83,"end":8385.31}]},{"text":"We're doing this in a proof of concept in 12 villages in Kenya right 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like to emphasize three critical aspects of the STI agenda from a trade union perspective.","start":8440.91,"end":8446.59,"topics":[],"words":[{"text":"Today,","start":8440.91,"end":8441.19},{"text":"I'd","start":8441.19,"end":8441.39},{"text":"like","start":8441.39,"end":8441.55},{"text":"to","start":8441.55,"end":8441.67},{"text":"emphasize","start":8441.67,"end":8442.11},{"text":"three","start":8442.11,"end":8442.59},{"text":"critical","start":8442.59,"end":8443.07},{"text":"aspects","start":8443.07,"end":8443.63},{"text":"of","start":8443.63,"end":8443.71},{"text":"the","start":8443.71,"end":8443.91},{"text":"STI","start":8443.95,"end":8444.43},{"text":"agenda","start":8444.43,"end":8444.87},{"text":"from","start":8444.87,"end":8445.07},{"text":"a","start":8445.07,"end":8445.11},{"text":"trade","start":8445.11,"end":8445.47},{"text":"union","start":8445.47,"end":8445.79},{"text":"perspective.","start":8445.79,"end":8446.59}]},{"text":"First, the digital economy has grown rapidly, transforming industries while exacerbating decent work deficits.","start":8447.31,"end":8454.43,"topics":[{"key":"ai-fintech-governance","label":"AI and Fintech Governance","description":"Speakers examined how artificial intelligence and digital financial technologies can promote inclusion but also deepen inequality if left unchecked. 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wish to reiterate Eurochoice's commitment to this process with the co facilitators of the document and with the host of the conference reaffirming its relevance for multilateralism and to make progress in achieving Thank you very 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thank the distinguished representative of Uruguay.","start":8945.39,"end":8947.99,"topics":[],"words":[{"text":"I","start":8945.39,"end":8945.55},{"text":"thank","start":8945.55,"end":8945.83},{"text":"the","start":8945.83,"end":8945.91},{"text":"distinguished","start":8945.95,"end":8946.51},{"text":"representative","start":8946.51,"end":8947.19},{"text":"of","start":8947.19,"end":8947.31},{"text":"Uruguay.","start":8947.31,"end":8947.99}]}]}],"speaker":{"name":null,"affiliation":"URY","affiliation_full":"Uruguay","group":null,"function":"Representative"}},{"statement_number":100,"start":8947.99,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=8948","paragraphs":[{"sentences":[{"text":"I give the floor to the distinguished representative of Singapore, speaking on behalf of the G77 and China, to be followed by the distinguished representative of 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you very much, Madam Ambassador.","start":8961.23,"end":8962.79,"topics":[],"words":[{"text":"Thank","start":8961.23,"end":8961.39},{"text":"you","start":8961.39,"end":8961.47},{"text":"very","start":8961.47,"end":8961.63},{"text":"much,","start":8961.63,"end":8962.03},{"text":"Madam","start":8962.03,"end":8962.23},{"text":"Ambassador.","start":8962.23,"end":8962.79}]},{"text":"I have the honor to deliver the statement on behalf of the Group of 77 and 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Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."}],"words":[{"text":"We","start":9098.07,"end":9098.31},{"text":"welcome","start":9098.35,"end":9098.71},{"text":"the","start":9098.71,"end":9098.87},{"text":"call","start":9098.87,"end":9099.19},{"text":"to","start":9099.19,"end":9099.39},{"text":"operationalize","start":9099.39,"end":9100.27},{"text":"the","start":9100.27,"end":9100.35},{"text":"online","start":9100.35,"end":9100.79},{"text":"university","start":9100.79,"end":9101.43},{"text":"for","start":9101.43,"end":9101.67},{"text":"LDCs","start":9101.67,"end":9102.31},{"text":"and","start":9102.31,"end":9102.51},{"text":"the","start":9102.51,"end":9102.59},{"text":"commitment","start":9102.59,"end":9103.15},{"text":"to","start":9103.15,"end":9103.23},{"text":"strengthen","start":9103.23,"end":9103.83},{"text":"the","start":9104.07,"end":9104.23},{"text":"UN","start":9104.23,"end":9104.55},{"text":"Technology","start":9104.55,"end":9105.11},{"text":"Bank","start":9105.11,"end":9105.39},{"text":"for","start":9105.39,"end":9105.59},{"text":"LDCs.","start":9105.59,"end":9106.15}]},{"text":"We also support the emphasis on national STI for SDG roadmaps, we urge that these be backed by dedicated, predictable and concessional finance, especially for LDCs and countries in special situations.","start":9106.75,"end":9119.07,"topics":[{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."}],"words":[{"text":"We","start":9106.75,"end":9106.83},{"text":"also","start":9106.83,"end":9107.07},{"text":"support","start":9107.07,"end":9107.47},{"text":"the","start":9107.47,"end":9107.55},{"text":"emphasis","start":9107.55,"end":9108.19},{"text":"on","start":9108.19,"end":9108.47},{"text":"national","start":9108.47,"end":9108.83},{"text":"STI","start":9108.83,"end":9109.39},{"text":"for","start":9109.39,"end":9109.63},{"text":"SDG","start":9109.63,"end":9110.03},{"text":"roadmaps,","start":9110.03,"end":9110.75},{"text":"we","start":9110.83,"end":9111.07},{"text":"urge","start":9111.07,"end":9111.39},{"text":"that","start":9111.47,"end":9111.71},{"text":"these","start":9111.71,"end":9112.03},{"text":"be","start":9112.03,"end":9112.19},{"text":"backed","start":9112.19,"end":9112.75},{"text":"by","start":9113.07,"end":9113.23},{"text":"dedicated,","start":9113.23,"end":9113.87},{"text":"predictable","start":9113.87,"end":9114.51},{"text":"and","start":9114.51,"end":9114.63},{"text":"concessional","start":9114.63,"end":9115.23},{"text":"finance,","start":9115.23,"end":9115.75},{"text":"especially","start":9115.75,"end":9116.35},{"text":"for","start":9116.35,"end":9116.59},{"text":"LDCs","start":9116.59,"end":9117.11},{"text":"and","start":9117.11,"end":9117.23},{"text":"countries","start":9117.23,"end":9117.75},{"text":"in","start":9117.75,"end":9117.87},{"text":"special","start":9117.87,"end":9118.35},{"text":"situations.","start":9118.35,"end":9119.07}]},{"text":"We underscore the importance of affordability and local adoption, adaptation of, for the development of digital public infrastructure and goods.","start":9119.87,"end":9127.95,"topics":[{"key":"digital-public-infrastructure","label":"Digital Public Infrastructure and the Digital Divide","description":"In the STI segment, many participants stressed the need for resilient digital infrastructure, digital public goods, and affordable access to close widening digital gaps. Particular attention was given to LDCs, SIDS, rural communities, and other underserved groups."}],"words":[{"text":"We","start":9119.87,"end":9120.07},{"text":"underscore","start":9120.07,"end":9120.59},{"text":"the","start":9120.59,"end":9120.67},{"text":"importance","start":9120.67,"end":9121.19},{"text":"of","start":9121.19,"end":9121.31},{"text":"affordability","start":9121.31,"end":9121.99},{"text":"and","start":9121.99,"end":9122.15},{"text":"local","start":9122.15,"end":9122.43},{"text":"adoption,","start":9122.43,"end":9122.99},{"text":"adaptation","start":9123.23,"end":9124.03},{"text":"of,","start":9124.11,"end":9124.43},{"text":"for","start":9124.43,"end":9124.63},{"text":"the","start":9124.63,"end":9124.71},{"text":"development","start":9124.71,"end":9125.39},{"text":"of","start":9125.39,"end":9125.55},{"text":"digital","start":9125.55,"end":9126.11},{"text":"public","start":9126.11,"end":9126.47},{"text":"infrastructure","start":9126.47,"end":9127.23},{"text":"and","start":9127.31,"end":9127.51},{"text":"goods.","start":9127.51,"end":9127.95}]},{"text":"We call for the co-creation of digital public goods with developing countries, including open source software in local languages, accessible design, and low bandwidth applications.","start":9128.71,"end":9139.35,"topics":[{"key":"digital-public-infrastructure","label":"Digital Public Infrastructure and the Digital Divide","description":"In the STI segment, many participants stressed the need for resilient digital infrastructure, digital public goods, and affordable access to close widening digital gaps. Particular attention was given to LDCs, SIDS, rural communities, and other underserved groups."},{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."}],"words":[{"text":"We","start":9128.71,"end":9128.87},{"text":"call","start":9128.87,"end":9129.03},{"text":"for","start":9129.03,"end":9129.19},{"text":"the","start":9129.19,"end":9129.27},{"text":"co-creation","start":9129.27,"end":9130.15},{"text":"of","start":9130.15,"end":9130.39},{"text":"digital","start":9130.39,"end":9130.87},{"text":"public","start":9130.87,"end":9131.23},{"text":"goods","start":9131.23,"end":9131.59},{"text":"with","start":9131.59,"end":9131.79},{"text":"developing","start":9131.79,"end":9132.47},{"text":"countries,","start":9132.47,"end":9133.03},{"text":"including","start":9133.19,"end":9133.75},{"text":"open","start":9133.75,"end":9134.15},{"text":"source","start":9134.15,"end":9134.59},{"text":"software","start":9134.59,"end":9135.27},{"text":"in","start":9135.35,"end":9135.47},{"text":"local","start":9135.47,"end":9135.79},{"text":"languages,","start":9135.79,"end":9136.39},{"text":"accessible","start":9136.39,"end":9136.95},{"text":"design,","start":9136.95,"end":9137.59},{"text":"and","start":9137.83,"end":9138.07},{"text":"low","start":9138.07,"end":9138.23},{"text":"bandwidth","start":9138.23,"end":9138.67},{"text":"applications.","start":9138.67,"end":9139.35}]},{"text":"We welcome the call to promote equitable access to artificial intelligence.","start":9140.07,"end":9143.99,"topics":[{"key":"ai-fintech-governance","label":"AI and Fintech Governance","description":"Speakers examined how artificial intelligence and digital financial technologies can promote inclusion but also deepen inequality if left unchecked. They called for common safeguards, ethical standards, transparency, accountability, and inclusive global rule-making."}],"words":[{"text":"We","start":9140.07,"end":9140.23},{"text":"welcome","start":9140.23,"end":9140.55},{"text":"the","start":9140.55,"end":9140.71},{"text":"call","start":9140.71,"end":9141.03},{"text":"to","start":9141.03,"end":9141.19},{"text":"promote","start":9141.19,"end":9141.67},{"text":"equitable","start":9141.71,"end":9142.19},{"text":"access","start":9142.19,"end":9142.55},{"text":"to","start":9142.55,"end":9142.67},{"text":"artificial","start":9142.67,"end":9143.19},{"text":"intelligence.","start":9143.19,"end":9143.99}]},{"text":"Developing countries must not be passive adopters of global AI norms, rather participate as equal contributors to shaping them.","start":9144.39,"end":9152.71,"topics":[{"key":"ai-fintech-governance","label":"AI and Fintech Governance","description":"Speakers examined how artificial intelligence and digital financial technologies can promote inclusion but also deepen inequality if left unchecked. They called for common safeguards, ethical standards, transparency, accountability, and inclusive global rule-making."},{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. The goal is more inclusive and legitimate global economic governance."}],"words":[{"text":"Developing","start":9144.39,"end":9144.99},{"text":"countries","start":9144.99,"end":9145.43},{"text":"must","start":9145.43,"end":9145.75},{"text":"not","start":9145.75,"end":9145.91},{"text":"be","start":9145.91,"end":9146.03},{"text":"passive","start":9146.03,"end":9146.47},{"text":"adopters","start":9146.47,"end":9147.19},{"text":"of","start":9147.19,"end":9147.39},{"text":"global","start":9147.39,"end":9147.75},{"text":"AI","start":9147.91,"end":9148.07},{"text":"norms,","start":9148.07,"end":9148.71},{"text":"rather","start":9148.95,"end":9149.27},{"text":"participate","start":9149.27,"end":9149.99},{"text":"as","start":9149.99,"end":9150.23},{"text":"equal","start":9150.23,"end":9150.63},{"text":"contributors","start":9150.63,"end":9151.51},{"text":"to","start":9151.75,"end":9151.95},{"text":"shaping","start":9151.95,"end":9152.47},{"text":"them.","start":9152.47,"end":9152.71}]},{"text":"For this, An AI capacity fund for developing countries and LDCs could help build regulatory capacity, data governance systems, and AI research hubs across Africa, Asia, and LDC regions.","start":9153.19,"end":9166.91,"topics":[{"key":"ai-fintech-governance","label":"AI and Fintech Governance","description":"Speakers examined how artificial intelligence and digital financial technologies can promote inclusion but also deepen inequality if left unchecked. They called for common safeguards, ethical standards, transparency, accountability, and inclusive global rule-making."},{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."}],"words":[{"text":"For","start":9153.19,"end":9153.43},{"text":"this,","start":9153.43,"end":9153.91},{"text":"An","start":9154.87,"end":9155.15},{"text":"AI","start":9155.23,"end":9155.39},{"text":"capacity","start":9155.39,"end":9156.03},{"text":"fund","start":9156.03,"end":9156.35},{"text":"for","start":9156.35,"end":9156.51},{"text":"developing","start":9156.51,"end":9156.99},{"text":"countries","start":9156.99,"end":9157.63},{"text":"and","start":9157.63,"end":9157.79},{"text":"LDCs","start":9157.79,"end":9158.39},{"text":"could","start":9158.39,"end":9158.59},{"text":"help","start":9158.59,"end":9158.83},{"text":"build","start":9158.99,"end":9159.31},{"text":"regulatory","start":9159.31,"end":9160.03},{"text":"capacity,","start":9160.03,"end":9160.75},{"text":"data","start":9160.99,"end":9161.31},{"text":"governance","start":9161.31,"end":9161.83},{"text":"systems,","start":9161.83,"end":9162.35},{"text":"and","start":9162.51,"end":9162.95},{"text":"AI","start":9162.99,"end":9163.07},{"text":"research","start":9163.07,"end":9163.63},{"text":"hubs","start":9163.63,"end":9164.19},{"text":"across","start":9164.35,"end":9164.75},{"text":"Africa,","start":9164.75,"end":9165.23},{"text":"Asia,","start":9165.23,"end":9165.67},{"text":"and","start":9165.67,"end":9165.79},{"text":"LDC","start":9165.79,"end":9166.39},{"text":"regions.","start":9166.39,"end":9166.91}]},{"text":"We suggest a mechanism for monitoring digital development, a scorecard or index measuring equitable access to STI, digital rights, and digital finance in developing countries.","start":9168.11,"end":9178.51,"topics":[{"key":"digital-public-infrastructure","label":"Digital Public Infrastructure and the Digital Divide","description":"In the STI segment, many participants stressed the need for resilient digital infrastructure, digital public goods, and affordable access to close widening digital gaps. Particular attention was given to LDCs, SIDS, rural communities, and other underserved groups."},{"key":"ai-fintech-governance","label":"AI and Fintech Governance","description":"Speakers examined how artificial intelligence and digital financial technologies can promote inclusion but also deepen inequality if left unchecked. They called for common safeguards, ethical standards, transparency, accountability, and inclusive global rule-making."}],"words":[{"text":"We","start":9168.11,"end":9168.35},{"text":"suggest","start":9168.35,"end":9168.83},{"text":"a","start":9168.83,"end":9168.87},{"text":"mechanism","start":9168.87,"end":9169.47},{"text":"for","start":9169.47,"end":9169.71},{"text":"monitoring","start":9169.71,"end":9170.27},{"text":"digital","start":9170.27,"end":9170.67},{"text":"development,","start":9170.67,"end":9171.39},{"text":"a","start":9171.55,"end":9171.59},{"text":"scorecard","start":9171.59,"end":9172.11},{"text":"or","start":9172.11,"end":9172.35},{"text":"index","start":9172.35,"end":9172.75},{"text":"measuring","start":9172.75,"end":9173.23},{"text":"equitable","start":9173.23,"end":9173.71},{"text":"access","start":9173.71,"end":9174.03},{"text":"to","start":9174.03,"end":9174.15},{"text":"STI,","start":9174.15,"end":9174.75},{"text":"digital","start":9175.23,"end":9175.59},{"text":"rights,","start":9175.59,"end":9176.11},{"text":"and","start":9176.19,"end":9176.47},{"text":"digital","start":9176.47,"end":9176.83},{"text":"finance","start":9176.83,"end":9177.31},{"text":"in","start":9177.31,"end":9177.39},{"text":"developing","start":9177.39,"end":9177.87},{"text":"countries.","start":9177.87,"end":9178.51}]},{"text":"Without measuring the gaps, we cannot close the digital divide.","start":9178.83,"end":9182.19,"topics":[{"key":"digital-public-infrastructure","label":"Digital Public Infrastructure and the Digital Divide","description":"In the STI segment, many participants stressed the need for resilient digital infrastructure, digital public goods, and affordable access to close widening digital gaps. Particular attention was given to LDCs, SIDS, rural communities, and other underserved groups."}],"words":[{"text":"Without","start":9178.83,"end":9179.23},{"text":"measuring","start":9179.23,"end":9179.55},{"text":"the","start":9179.55,"end":9179.63},{"text":"gaps,","start":9179.63,"end":9180.11},{"text":"we","start":9180.11,"end":9180.35},{"text":"cannot","start":9180.35,"end":9180.83},{"text":"close","start":9180.91,"end":9181.23},{"text":"the","start":9181.23,"end":9181.31},{"text":"digital","start":9181.31,"end":9181.71},{"text":"divide.","start":9181.71,"end":9182.19}]},{"text":"We support the draft's recognition of the role of intellectual property rights and TRIPS flexibilities.","start":9183.07,"end":9188.03,"topics":[{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."}],"words":[{"text":"We","start":9183.07,"end":9183.11},{"text":"support","start":9183.11,"end":9183.47},{"text":"the","start":9183.47,"end":9183.55},{"text":"draft's","start":9183.55,"end":9183.91},{"text":"recognition","start":9183.91,"end":9184.67},{"text":"of","start":9184.67,"end":9184.83},{"text":"the","start":9184.83,"end":9184.91},{"text":"role","start":9184.91,"end":9185.27},{"text":"of","start":9185.27,"end":9185.35},{"text":"intellectual","start":9185.35,"end":9185.95},{"text":"property","start":9185.95,"end":9186.31},{"text":"rights","start":9186.31,"end":9186.59},{"text":"and","start":9186.59,"end":9186.71},{"text":"TRIPS","start":9186.71,"end":9187.07},{"text":"flexibilities.","start":9187.07,"end":9188.03}]},{"text":"In line with this, we urge to adopt a development-friendly IP protocol to expedite technology transfer in key development sectors such as clean energy, health and agriculture.","start":9188.43,"end":9199.63,"topics":[{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. 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Costa Rica welcomes the strengthening of the language in the section on science, technology and innovation, particularly the renewed emphasis on equity, inclusion and international cooperation as guiding principles.","start":9223.31,"end":9239.87,"topics":[{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. 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I now give the floor to the last request for the floor to Ms. Anita Thomas from Virginia Gildersleeve International Fund and NGO Committee on 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Anita Thomas, you have the floor.","start":10171.15,"end":10173.07,"topics":[],"words":[{"text":"So","start":10171.15,"end":10171.47},{"text":"Anita","start":10171.47,"end":10171.99},{"text":"Thomas,","start":10171.99,"end":10172.31},{"text":"you","start":10172.31,"end":10172.39},{"text":"have","start":10172.39,"end":10172.59},{"text":"the","start":10172.59,"end":10172.71},{"text":"floor.","start":10172.71,"end":10173.07}]}]}],"speaker":{"name":"Alicia","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-facilitator"}},{"statement_number":121,"start":10173.95,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=10174","paragraphs":[{"sentences":[{"text":"Thank you, Chair.","start":10173.95,"end":10174.79,"topics":[],"words":[{"text":"Thank","start":10173.95,"end":10174.19},{"text":"you,","start":10174.19,"end":10174.31},{"text":"Chair.","start":10174.31,"end":10174.79}]},{"text":"I speak on behalf of Virginia Gildersleeve International Fund and the NGO Committee on 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building, particularly for youth, women, and marginalized groups, and the launch of the online university for LDCs.","start":10179.27,"end":10194.63,"topics":[{"key":"digital-public-infrastructure","label":"Digital Public Infrastructure and the Digital Divide","description":"In the STI segment, many participants stressed the need for resilient digital infrastructure, digital public goods, and affordable access to close widening digital gaps. 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you, Chair.","start":10278.27,"end":10278.83,"topics":[],"words":[{"text":"Thank","start":10278.27,"end":10278.47},{"text":"you,","start":10278.47,"end":10278.55},{"text":"Chair.","start":10278.55,"end":10278.83}]}]}],"speaker":{"name":"Anita Thomas","affiliation":null,"affiliation_full":null,"group":"Virginia Gildersleeve International Fund and NGO Committee on FFD","function":"Representative"}},{"statement_number":122,"start":10283.03,"pageUrl":"/en/asset/k1c/k1ctv4ig0z?t=10284","paragraphs":[{"sentences":[{"text":"I thank Ms. Anita Thomas speaking on behalf of Virginia Gildersleeve International Fund and NGO Committee on 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you.","start":10558.47,"end":10558.87,"topics":[],"words":[{"text":"Thank","start":10558.47,"end":10558.71},{"text":"you.","start":10558.71,"end":10558.87}]}]}],"speaker":{"name":"Alicia","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-facilitator"}}],"topics":[{"key":"sdrs-safety-net","label":"SDRs and the Global Financial Safety Net","description":"A major topic was how to use Special Drawing Rights more effectively and how to strengthen the global financial safety net with the IMF at its center. Speakers discussed SDR issuance, voluntary rechanneling, IMF facilities, swap lines, and regional financial arrangements."},{"key":"debt-restructuring","label":"Debt Restructuring and Debt Architecture","description":"There was extensive discussion on making sovereign debt restructuring faster, fairer, more predictable, and more inclusive. Speakers referenced reform of the G20 Common Framework, closing gaps in the debt architecture, and possible new intergovernmental or multilateral debt workout mechanisms."},{"key":"credit-rating-reform","label":"Credit Rating Agency Reform","description":"Delegates and panelists highlighted how sovereign credit ratings can raise borrowing costs for developing countries through bias, pro-cyclicality, and lack of transparency. They proposed stronger oversight, improved methodologies, structured dialogue, and even possible public alternatives under multilateral frameworks."},{"key":"ai-fintech-governance","label":"AI and Fintech Governance","description":"Speakers examined how artificial intelligence and digital financial technologies can promote inclusion but also deepen inequality if left unchecked. They called for common safeguards, ethical standards, transparency, accountability, and inclusive global rule-making."},{"key":"debt-swaps-resilience","label":"Debt Swaps for Sustainable Development","description":"Debt swaps were discussed as a tool to create fiscal space while supporting climate action, nature protection, and broader sustainable development goals. Speakers emphasized the need to reduce transaction costs, provide technical support, and adapt these instruments to country-specific circumstances."},{"key":"borrowing-costs-finance","label":"Borrowing Costs and Affordable Finance","description":"Many statements focused on the high cost of capital facing developing countries and the need to expand affordable long-term financing. Proposed responses included concessional lending, MDB reform, guarantees, local currency financing, and improved risk assessment practices."},{"key":"developing-country-voice","label":"Voice and Representation of Developing Countries","description":"Many interventions stressed that developing countries need greater voting power, board representation, and leadership opportunities in the IMF, World Bank, and other international financial institutions. The goal is more inclusive and legitimate global economic governance."},{"key":"technology-transfer-capacity","label":"Technology Transfer and Capacity Building","description":"A recurring theme was the need for stronger international cooperation on technology transfer, knowledge sharing, skills development, and institutional capacity. Delegations argued that developing countries must be supported not just as users of technology, but as active shapers of innovation."},{"key":"digital-public-infrastructure","label":"Digital Public Infrastructure and the Digital Divide","description":"In the STI segment, many participants stressed the need for resilient digital infrastructure, digital public goods, and affordable access to close widening digital gaps. Particular attention was given to LDCs, SIDS, rural communities, and other underserved groups."},{"key":"financial-architecture-reform","label":"International Financial Architecture Reform","description":"Speakers repeatedly called for broad reform of the global financial system so it better responds to today’s crises and development needs. This included making the system fairer, more transparent, more responsive, and better aligned with sustainable development."}]}}