{"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/es/asset/k15/k15oucg2qs?lang=en","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":"/es/asset/k15/k15oucg2qs.txt","guide":"/llms.txt"},"video":{"id":"k15/k15oucg2qs","kaltura_id":"1_5oucg2qs","title":"(6th informal meeting) Preparatory Committee for the Fourth International Conference on Financing for Development, Third Session","clean_title":"(6th informal meeting) Preparatory Committee for the Fourth International Conference on Financing for Development, Third Session","url":"https://webtv.un.org/en/asset/k15/k15oucg2qs","date":"2025-02-13T00:00:00.000Z","scheduled_time":"2025-02-13T15:00:00.000Z","status":"finished","duration":"03:06:22","category":"Conferences","body":null,"event_code":null,"event_type":null,"session_number":null,"pv_symbol":null,"pv_part":null,"slug":"asset/k15/k15oucg2qs"},"metadata":{"summary":"The Third Session of the Preparatory Committee for the Fourth International Conference on Financing for Development will be held at the United Nations Headquarters in New York from 10 to 14 February 2025.","description":"Consideration of the draft outcome document of the Conference\n\nThe Fourth International Conference on Financing for Development (FfD4) will take place in Seville, Spain from 30 June to 3 July, 2025. The Conference will address new and emerging issues, and the urgent need to fully implement the Sustainable Development Goals, and support reform of the international financial architecture.\nFfD4 will assess the progress made in the implementation of the Monterrey Consensus, the Doha Declaration and the Addis Ababa Action agenda.","categories":["Meetings & Events","Conferences","International Conference on Financing for Development","Fourth Session"],"geographic_subject":[],"subject_topical":[],"corporate_name":[],"speaker_affiliation":[],"related_documents":[{"title":"Third Preparatory Committee Session for FfD4 website","url":"https://financing.desa.un.org/preparatory-process-ffd4/third-prepcom"},{"title":"Proposed organization of work of the third session of the Preparatory Committee","url":"https://s3.us-west-2.amazonaws.com/teamup-filestack-temp/temp%2Fc133XxBAQYi46I1v1yph_3rd-prep-com-ffd4.pdf"}]},"transcript":{"transcript_id":"azure-llm-speech-884acc47-d31f-4e8e-9f9e-98556615ac45","language":"en","data":[{"statement_number":1,"start":4.19,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=5","paragraphs":[{"sentences":[{"text":"Excellencies, distinguished delegates, dear colleagues, good morning.","start":4.19,"end":10.59,"topics":[],"words":[{"text":"Excellencies,","start":4.19,"end":5.15},{"text":"distinguished","start":7.07,"end":7.63},{"text":"delegates,","start":7.63,"end":8.27},{"text":"dear","start":9.31,"end":9.47},{"text":"colleagues,","start":9.47,"end":9.95},{"text":"good","start":9.95,"end":10.11},{"text":"morning.","start":10.11,"end":10.59}]},{"text":"I call to order the sixth informal meeting of the third session of the Preparatory Committee for the fourth International Conference on Financing for Development to continue with the consideration of the zero draft outcome document of the Conference.","start":15.07,"end":28.51,"topics":[],"words":[{"text":"I","start":15.07,"end":15.23},{"text":"call","start":15.23,"end":15.55},{"text":"to","start":15.55,"end":15.75},{"text":"order","start":15.75,"end":16.35},{"text":"the","start":16.67,"end":16.79},{"text":"sixth","start":16.79,"end":17.23},{"text":"informal","start":17.23,"end":17.71},{"text":"meeting","start":17.71,"end":18.03},{"text":"of","start":18.03,"end":18.19},{"text":"the","start":18.19,"end":18.31},{"text":"third","start":18.31,"end":18.59},{"text":"session","start":18.59,"end":18.95},{"text":"of","start":18.95,"end":19.07},{"text":"the","start":19.07,"end":19.15},{"text":"Preparatory","start":19.15,"end":19.71},{"text":"Committee","start":19.71,"end":20.27},{"text":"for","start":20.59,"end":20.75},{"text":"the","start":20.75,"end":20.87},{"text":"fourth","start":20.87,"end":21.15},{"text":"International","start":21.15,"end":21.71},{"text":"Conference","start":21.71,"end":22.19},{"text":"on","start":22.19,"end":22.35},{"text":"Financing","start":22.35,"end":22.79},{"text":"for","start":22.79,"end":22.91},{"text":"Development","start":22.91,"end":23.55},{"text":"to","start":24.03,"end":24.19},{"text":"continue","start":24.19,"end":24.67},{"text":"with","start":24.67,"end":24.87},{"text":"the","start":24.87,"end":24.99},{"text":"consideration","start":24.99,"end":25.67},{"text":"of","start":25.67,"end":25.87},{"text":"the","start":25.95,"end":26.19},{"text":"zero","start":26.19,"end":26.47},{"text":"draft","start":26.47,"end":26.83},{"text":"outcome","start":26.83,"end":27.15},{"text":"document","start":27.15,"end":27.63},{"text":"of","start":27.63,"end":27.79},{"text":"the","start":27.79,"end":27.87},{"text":"Conference.","start":27.87,"end":28.51}]},{"text":"Distinguished delegates, we have a few speakers remaining on the section on international trade as an engine for 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speakers when it is time to conclude their 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necessary, the microphone will be automatically deactivated when the time limit has elapsed.","start":87.95,"end":94.51,"topics":[],"words":[{"text":"As","start":87.95,"end":88.27},{"text":"necessary,","start":88.27,"end":88.99},{"text":"the","start":89.23,"end":89.39},{"text":"microphone","start":89.39,"end":89.91},{"text":"will","start":89.91,"end":90.11},{"text":"be","start":90.11,"end":90.31},{"text":"automatically","start":90.31,"end":90.99},{"text":"deactivated","start":90.99,"end":92.03},{"text":"when","start":92.63,"end":92.83},{"text":"the","start":92.83,"end":92.95},{"text":"time","start":92.95,"end":93.23},{"text":"limit","start":93.23,"end":93.71},{"text":"has","start":93.71,"end":93.99},{"text":"elapsed.","start":94.03,"end":94.51}]},{"text":"Speakers on behalf of groups should inform the secretariat in order to give precedence in the order of the 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representative of Colombia, to be followed by the distinguished representative of 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you have the floor.","start":119.31,"end":120.43,"topics":[],"words":[{"text":"Colombia,","start":119.31,"end":119.71},{"text":"you","start":119.71,"end":119.83},{"text":"have","start":119.83,"end":119.95},{"text":"the","start":119.95,"end":120.03},{"text":"floor.","start":120.03,"end":120.43}]}]}],"speaker":{"name":"Karl","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":2,"start":123.11,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=124","paragraphs":[{"sentences":[{"text":"mr president i would like to turn to the implications of environmental measures linked to sustainable trade here colombia is of the view that this is a very important matter but in its current wording we need actionable clear commitments to ensure that it's effective we need to include concrete measures for its implementation and ensure accountability.","start":123.11,"end":147.03,"topics":[{"key":"trade-environment-measures","label":"Trade-Related 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Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"To","start":216.83,"end":217.15},{"text":"maximise","start":217.15,"end":217.87},{"text":"the","start":217.87,"end":217.99},{"text":"impact","start":217.99,"end":218.75},{"text":"of","start":218.75,"end":218.83},{"text":"aid","start":218.83,"end":219.11},{"text":"for","start":219.11,"end":219.23},{"text":"trade,","start":219.23,"end":219.71},{"text":"there","start":219.71,"end":219.83},{"text":"is","start":219.83,"end":219.91},{"text":"a","start":219.91,"end":219.95},{"text":"need","start":219.95,"end":220.23},{"text":"to","start":220.23,"end":220.31},{"text":"ensure","start":220.31,"end":220.59},{"text":"that","start":220.59,"end":220.91},{"text":"this","start":220.91,"end":221.23},{"text":"can","start":221.23,"end":221.63},{"text":"boost","start":221.79,"end":222.27},{"text":"competitiveness","start":222.27,"end":223.11},{"text":"and","start":223.11,"end":223.31},{"text":"the","start":223.39,"end":223.59},{"text":"interconnectedness","start":223.59,"end":224.35},{"text":"of","start":224.35,"end":224.67},{"text":"countries","start":224.67,"end":225.23},{"text":"facing","start":225.23,"end":225.79},{"text":"similar","start":225.79,"end":226.35},{"text":"challenges.","start":226.35,"end":226.99}]},{"text":"Finally, paragraph 46 recognises the importance of countries being able to tap into their natural resources for sustainable development.","start":228.35,"end":238.59,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. 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Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"However,","start":238.83,"end":239.55},{"text":"it","start":239.63,"end":239.83},{"text":"is","start":239.83,"end":239.95},{"text":"also","start":239.95,"end":240.67},{"text":"very","start":241.07,"end":241.27},{"text":"important","start":241.27,"end":241.75},{"text":"to","start":241.75,"end":241.83},{"text":"recognise","start":241.83,"end":242.51},{"text":"and","start":242.51,"end":242.79},{"text":"address","start":242.79,"end":243.31},{"text":"the","start":243.31,"end":243.39},{"text":"possible","start":243.39,"end":243.95},{"text":"adverse","start":243.95,"end":244.59},{"text":"impacts","start":244.59,"end":245.39},{"text":"of","start":245.83,"end":246.15},{"text":"extraction","start":246.47,"end":247.83},{"text":"of","start":247.83,"end":248.07},{"text":"resources,","start":248.07,"end":248.47},{"text":"particularly","start":248.47,"end":249.11},{"text":"on","start":249.11,"end":249.35},{"text":"ecosystems","start":249.35,"end":250.23},{"text":"and","start":250.23,"end":250.55},{"text":"vulnerable","start":250.55,"end":250.95},{"text":"communities.","start":250.95,"end":251.75}]},{"text":"Ensuring a fair transition means policies to mitigate adverse effects and to harness the opportunities in the sector.","start":252.83,"end":260.95,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy 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Solicitor.","start":270.87,"end":272.15,"topics":[],"words":[{"text":"Thank","start":270.87,"end":271.07},{"text":"you","start":271.07,"end":271.15},{"text":"very","start":271.15,"end":271.31},{"text":"much,","start":271.31,"end":271.51},{"text":"Govt","start":271.51,"end":271.67},{"text":"Solicitor.","start":271.67,"end":272.15}]}]}],"speaker":{"name":null,"affiliation":"COL","affiliation_full":"Colombia","group":null,"function":"Representative"}},{"statement_number":3,"start":274.15,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=275","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of Colombia.","start":274.15,"end":277.11,"topics":[],"words":[{"text":"I","start":274.15,"end":274.31},{"text":"thank","start":274.31,"end":274.55},{"text":"the","start":274.55,"end":274.67},{"text":"distinguished","start":274.67,"end":275.35},{"text":"representative","start":275.67,"end":276.39},{"text":"of","start":276.39,"end":276.51},{"text":"Colombia.","start":276.51,"end":277.11}]},{"text":"Now I'd like to give the floor to the distinguished representative of Cuba, to be followed by the distinguished representative of United 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43E, we propose adding language so as to present the mentioned recommendations to the GA for appropriate 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when it comes to UCMs, it would be no surprise that this is the chicken in the rice and chicken for a country like mine, 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hope everyone had breakfast, by the way.","start":340.43,"end":344.43,"topics":[],"words":[{"text":"I","start":340.43,"end":340.59},{"text":"hope","start":340.59,"end":340.79},{"text":"everyone","start":340.79,"end":341.15},{"text":"had","start":341.15,"end":341.47},{"text":"breakfast,","start":341.95,"end":342.71},{"text":"by","start":343.87,"end":344.07},{"text":"the","start":344.07,"end":344.19},{"text":"way.","start":344.19,"end":344.43}]},{"text":"Regarding this issue, I would have to state that it is clear that UCMs are contrary to international law and the UN Charter because they go against the basic tenet of equality among Member 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have heard a lot of human rights language coming to the text, which is of course important.","start":436.43,"end":440.67,"topics":[],"words":[{"text":"We","start":436.43,"end":436.51},{"text":"have","start":436.51,"end":436.67},{"text":"heard","start":436.67,"end":436.87},{"text":"a","start":436.87,"end":436.91},{"text":"lot","start":436.91,"end":437.03},{"text":"of","start":437.03,"end":437.11},{"text":"human","start":437.11,"end":437.39},{"text":"rights","start":437.39,"end":437.79},{"text":"language","start":438.03,"end":438.43},{"text":"coming","start":438.43,"end":438.75},{"text":"to","start":438.75,"end":438.83},{"text":"the","start":438.83,"end":438.95},{"text":"text,","start":438.95,"end":439.35},{"text":"which","start":439.35,"end":439.63},{"text":"is","start":439.63,"end":439.75},{"text":"of","start":439.75,"end":439.87},{"text":"course","start":439.87,"end":440.07},{"text":"important.","start":440.07,"end":440.67}]},{"text":"But if you are so committed to human rights, then 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Cuban case is very eloquent.","start":447.71,"end":449.87,"topics":[],"words":[{"text":"The","start":447.71,"end":447.83},{"text":"Cuban","start":447.83,"end":448.11},{"text":"case","start":448.11,"end":448.51},{"text":"is","start":448.51,"end":448.75},{"text":"very","start":448.75,"end":449.07},{"text":"eloquent.","start":449.31,"end":449.87}]},{"text":"Just between March 23 and February 24, one year, the US blockade against Cuba has cost over $5 billion, dollars that are needed for the electricity system, for critical infrastructure, for the health system, for education 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it is clear that they impact human rights and sustainable development.","start":472.31,"end":477.51,"topics":[],"words":[{"text":"So","start":472.31,"end":472.71},{"text":"it","start":472.71,"end":472.91},{"text":"is","start":472.91,"end":473.03},{"text":"clear","start":473.03,"end":473.51},{"text":"that","start":473.59,"end":473.83},{"text":"they","start":473.83,"end":474.15},{"text":"impact","start":474.23,"end":474.87},{"text":"human","start":474.95,"end":475.27},{"text":"rights","start":475.27,"end":475.83},{"text":"and","start":475.91,"end":476.23},{"text":"sustainable","start":476.39,"end":476.99},{"text":"development.","start":476.99,"end":477.51}]},{"text":"Finally, asking the country that imposes UCMs if they are legitimate would be as irrational as asking a predator if it's okay to eat a 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am guessing that the gazelle and any other potential victim would have a different opinion.","start":488.55,"end":493.59,"topics":[],"words":[{"text":"I","start":488.55,"end":488.71},{"text":"am","start":488.71,"end":488.87},{"text":"guessing","start":488.87,"end":489.35},{"text":"that","start":489.35,"end":489.59},{"text":"the","start":489.59,"end":489.71},{"text":"gazelle","start":489.71,"end":490.15},{"text":"and","start":490.15,"end":490.39},{"text":"any","start":490.39,"end":490.63},{"text":"other","start":490.63,"end":490.79},{"text":"potential","start":490.79,"end":491.23},{"text":"victim","start":491.23,"end":491.67},{"text":"would","start":491.99,"end":492.23},{"text":"have","start":492.23,"end":492.47},{"text":"a","start":492.55,"end":492.59},{"text":"different","start":492.59,"end":493.03},{"text":"opinion.","start":493.03,"end":493.59}]},{"text":"Fortunately, we are not in the 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distinguished representative of 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benefits have not been shared equally, and that significant challenges remain in allowing developing 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Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"Today,","start":586.23,"end":586.71},{"text":"the","start":588.23,"end":588.47},{"text":"poorest","start":588.47,"end":588.91},{"text":"three","start":588.91,"end":589.11},{"text":"billion","start":589.11,"end":589.43},{"text":"people","start":589.43,"end":589.83},{"text":"have","start":589.83,"end":589.99},{"text":"minimal,","start":589.99,"end":590.39},{"text":"if","start":590.79,"end":591.03},{"text":"any,","start":591.03,"end":591.43},{"text":"involvement","start":591.67,"end":592.23},{"text":"with","start":592.23,"end":592.35},{"text":"global","start":592.35,"end":592.71},{"text":"trade,","start":592.71,"end":593.11},{"text":"whilst","start":593.11,"end":593.55},{"text":"LDCs","start":593.55,"end":594.15},{"text":"account","start":594.15,"end":594.47},{"text":"for","start":594.47,"end":594.59},{"text":"only","start":594.59,"end":594.83},{"text":"one","start":594.83,"end":595.03},{"text":"percent","start":595.03,"end":595.51},{"text":"of","start":595.95,"end":596.07},{"text":"global","start":596.07,"end":596.47},{"text":"goods","start":596.79,"end":597.19},{"text":"trade,","start":597.27,"end":597.67},{"text":"less","start":597.99,"end":598.19},{"text":"than","start":598.19,"end":598.31},{"text":"half","start":598.31,"end":598.55},{"text":"the","start":598.55,"end":598.63},{"text":"target","start":598.63,"end":599.03},{"text":"set","start":599.03,"end":599.39},{"text":"in","start":599.39,"end":599.55},{"text":"the","start":599.55,"end":599.63},{"text":"SDGs.","start":599.63,"end":600.31}]},{"text":"We support the call for WTO members to fully implement agreements on trade facilitations, fishery subsidies, and investment facilitation for developments.","start":602.31,"end":611.51,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."},{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. 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43, The language here is outdated and should be updated to text from the 13th Ministerial Conference agreed in 2024.","start":665.11,"end":674.39,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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Thank you, co-facilitator.","start":716.19,"end":720.91,"topics":[],"words":[{"text":"So","start":716.19,"end":716.39},{"text":"that","start":716.39,"end":716.67},{"text":"said,","start":716.67,"end":716.99},{"text":"we","start":717.07,"end":717.23},{"text":"can","start":717.23,"end":717.35},{"text":"support","start":717.35,"end":717.87},{"text":"paragraph","start":718.11,"end":718.47},{"text":"46","start":718.47,"end":719.07},{"text":"C.","start":719.15,"end":719.63},{"text":"Thank","start":719.87,"end":720.07},{"text":"you,","start":720.07,"end":720.15},{"text":"co-facilitator.","start":720.15,"end":720.91}]}]}],"speaker":{"name":null,"affiliation":"GBR","affiliation_full":"United Kingdom of Great Britain and Northern Ireland","group":null,"function":"Representative"}},{"statement_number":7,"start":722.99,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=723","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of the United Kingdom.","start":722.99,"end":725.95,"topics":[],"words":[{"text":"I","start":722.99,"end":723.15},{"text":"thank","start":723.15,"end":723.39},{"text":"the","start":723.39,"end":723.51},{"text":"distinguished","start":723.51,"end":724.11},{"text":"representative","start":724.11,"end":724.75},{"text":"of","start":724.75,"end":724.99},{"text":"the","start":724.99,"end":725.07},{"text":"United","start":725.07,"end":725.39},{"text":"Kingdom.","start":725.39,"end":725.95}]},{"text":"Now I would like to give the floor to the distinguished representative of Honduras, to be followed by the distinguished representative of Paraguay.","start":726.59,"end":734.03,"topics":[],"words":[{"text":"Now","start":726.59,"end":726.71},{"text":"I","start":726.71,"end":726.75},{"text":"would","start":726.75,"end":726.91},{"text":"like","start":726.91,"end":727.15},{"text":"to","start":727.15,"end":727.27},{"text":"give","start":727.27,"end":727.47},{"text":"the","start":727.47,"end":727.55},{"text":"floor","start":727.55,"end":727.95},{"text":"to","start":727.95,"end":728.11},{"text":"the","start":728.11,"end":728.19},{"text":"distinguished","start":728.19,"end":728.71},{"text":"representative","start":728.71,"end":729.55},{"text":"of","start":729.55,"end":729.63},{"text":"Honduras,","start":729.63,"end":730.27},{"text":"to","start":730.51,"end":730.67},{"text":"be","start":730.67,"end":730.75},{"text":"followed","start":730.75,"end":731.15},{"text":"by","start":731.15,"end":731.47},{"text":"the","start":731.71,"end":731.83},{"text":"distinguished","start":731.83,"end":732.35},{"text":"representative","start":732.35,"end":732.99},{"text":"of","start":732.99,"end":733.23},{"text":"Paraguay.","start":733.39,"end":734.03}]}]}],"speaker":{"name":"Karl","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":8,"start":735.75,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=736","paragraphs":[{"sentences":[{"text":"Thank you, co facilitator.","start":735.75,"end":738.43,"topics":[],"words":[{"text":"Thank","start":735.75,"end":736.03},{"text":"you,","start":736.35,"end":736.43},{"text":"co","start":736.99,"end":737.47},{"text":"facilitator.","start":737.51,"end":738.43}]},{"text":"Trade wars have a major adverse impact on sustainable development, especially for the least developed countries.","start":739.07,"end":746.19,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. 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Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"Protectionist","start":747.23,"end":747.79},{"text":"measures","start":747.79,"end":748.11},{"text":"don't","start":748.11,"end":748.55},{"text":"just","start":748.55,"end":748.75},{"text":"undermine","start":748.75,"end":749.15},{"text":"global","start":749.15,"end":749.79},{"text":"trade","start":749.87,"end":750.35},{"text":"trends,","start":751.39,"end":751.87},{"text":"they","start":751.87,"end":752.03},{"text":"also","start":752.03,"end":752.67},{"text":"increase","start":752.83,"end":753.31},{"text":"the","start":753.31,"end":753.39},{"text":"cost","start":753.39,"end":753.71},{"text":"of","start":753.71,"end":753.79},{"text":"technology,","start":753.79,"end":754.43},{"text":"infrastructure","start":754.43,"end":755.03},{"text":"and","start":755.03,"end":755.23},{"text":"renewable","start":755.23,"end":755.63},{"text":"energy,","start":755.63,"end":756.35},{"text":"which","start":756.79,"end":757.07},{"text":"are","start":757.07,"end":757.15},{"text":"needed","start":757.15,"end":757.71},{"text":"to","start":757.71,"end":758.03},{"text":"foster","start":758.27,"end":758.67},{"text":"sustainable","start":758.67,"end":759.15},{"text":"development.","start":759.15,"end":759.71}]},{"text":"The most vulnerable countries, which depend on international cooperation and access to international markets, are particularly affected, as they face additional trade barriers which hinder the implementation of development policies and the combating of climate change.","start":760.11,"end":774.99,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."},{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}],"words":[{"text":"The","start":760.11,"end":760.27},{"text":"most","start":760.27,"end":760.51},{"text":"vulnerable","start":760.51,"end":761.07},{"text":"countries,","start":761.07,"end":761.55},{"text":"which","start":761.55,"end":761.87},{"text":"depend","start":761.87,"end":762.39},{"text":"on","start":762.39,"end":762.51},{"text":"international","start":762.51,"end":763.11},{"text":"cooperation","start":763.11,"end":763.67},{"text":"and","start":763.67,"end":763.79},{"text":"access","start":763.79,"end":764.35},{"text":"to","start":764.35,"end":764.51},{"text":"international","start":764.51,"end":765.11},{"text":"markets,","start":765.11,"end":765.63},{"text":"are","start":765.87,"end":766.03},{"text":"particularly","start":766.03,"end":766.63},{"text":"affected,","start":766.63,"end":767.23},{"text":"as","start":767.55,"end":767.79},{"text":"they","start":767.79,"end":768.11},{"text":"face","start":768.11,"end":768.67},{"text":"additional","start":768.75,"end":769.31},{"text":"trade","start":769.31,"end":769.63},{"text":"barriers","start":769.63,"end":770.03},{"text":"which","start":770.03,"end":770.27},{"text":"hinder","start":770.27,"end":770.79},{"text":"the","start":770.99,"end":771.07},{"text":"implementation","start":771.07,"end":771.95},{"text":"of","start":771.95,"end":772.27},{"text":"development","start":772.27,"end":772.79},{"text":"policies","start":772.79,"end":773.39},{"text":"and","start":773.39,"end":773.59},{"text":"the","start":773.59,"end":773.67},{"text":"combating","start":773.67,"end":774.07},{"text":"of","start":774.07,"end":774.15},{"text":"climate","start":774.15,"end":774.51},{"text":"change.","start":774.51,"end":774.99}]},{"text":"Against this backdrop, we believe that the following are vital.","start":775.43,"end":778.11,"topics":[],"words":[{"text":"Against","start":775.43,"end":775.67},{"text":"this","start":775.67,"end":775.83},{"text":"backdrop,","start":775.83,"end":776.23},{"text":"we","start":776.23,"end":776.35},{"text":"believe","start":776.35,"end":776.59},{"text":"that","start":776.59,"end":776.79},{"text":"the","start":776.79,"end":776.91},{"text":"following","start":776.91,"end":777.39},{"text":"are","start":777.39,"end":777.67},{"text":"vital.","start":777.71,"end":778.11}]},{"text":"First, for the document to take into account trade policies promoting openness and cooperation, and second, that the move towards regional trade integration should be seen as a strategic alternative vis vis protectionist measures.","start":778.11,"end":792.91,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"First,","start":778.11,"end":778.51},{"text":"for","start":778.51,"end":778.75},{"text":"the","start":778.75,"end":778.87},{"text":"document","start":778.87,"end":779.43},{"text":"to","start":779.43,"end":779.55},{"text":"take","start":779.55,"end":779.79},{"text":"into","start":779.79,"end":779.99},{"text":"account","start":779.99,"end":780.43},{"text":"trade","start":781.31,"end":781.63},{"text":"policies","start":781.63,"end":782.11},{"text":"promoting","start":782.11,"end":782.83},{"text":"openness","start":782.99,"end":783.63},{"text":"and","start":783.63,"end":783.75},{"text":"cooperation,","start":783.75,"end":784.27},{"text":"and","start":784.27,"end":784.43},{"text":"second,","start":784.43,"end":784.91},{"text":"that","start":784.91,"end":785.39},{"text":"the","start":786.91,"end":787.15},{"text":"move","start":787.15,"end":787.47},{"text":"towards","start":787.47,"end":787.87},{"text":"regional","start":787.87,"end":788.43},{"text":"trade","start":788.51,"end":788.79},{"text":"integration","start":788.79,"end":789.23},{"text":"should","start":789.23,"end":789.35},{"text":"be","start":789.35,"end":789.43},{"text":"seen","start":789.43,"end":789.63},{"text":"as","start":789.63,"end":789.79},{"text":"a","start":789.79,"end":789.87},{"text":"strategic","start":789.87,"end":790.63},{"text":"alternative","start":790.63,"end":791.43},{"text":"vis","start":791.43,"end":791.63},{"text":"vis","start":791.63,"end":791.83},{"text":"protectionist","start":791.83,"end":792.43},{"text":"measures.","start":792.43,"end":792.91}]},{"text":"We also need to ensure that all countries, especially the most vulnerable, including middle income countries, can have sufficient political space to address domestic problems such as food insecurity and economic crises.","start":794.43,"end":806.99,"topics":[{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. 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you very much, moderator.","start":1017.43,"end":1019.79,"topics":[],"words":[{"text":"Thank","start":1017.43,"end":1017.91},{"text":"you","start":1017.95,"end":1018.11},{"text":"very","start":1018.91,"end":1019.11},{"text":"much,","start":1019.11,"end":1019.23},{"text":"moderator.","start":1019.23,"end":1019.79}]},{"text":"We would align with the statement delivered yesterday by the G77 China, and we would like to make a few individual 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43 in the section on multilateral trade systems through the WTO, we would suggest adding an element which would be increasing the WTO's capacity to sanction anti-competitive practices, including those coming from developed countries.","start":1033.31,"end":1052.27,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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you, Mr. Chair, and good morning, everyone.","start":1068.19,"end":1073.55,"topics":[],"words":[{"text":"Thank","start":1068.19,"end":1068.59},{"text":"you,","start":1068.59,"end":1068.91},{"text":"Mr.","start":1070.35,"end":1070.75},{"text":"Chair,","start":1070.75,"end":1071.15},{"text":"and","start":1071.95,"end":1072.35},{"text":"good","start":1072.35,"end":1072.51},{"text":"morning,","start":1072.51,"end":1072.83},{"text":"everyone.","start":1072.83,"end":1073.55}]},{"text":"We agree with the statements already made by G7+ China, as well as the African group on the accessibility of markets to developing countries.","start":1073.87,"end":1085.55,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"We","start":1073.87,"end":1074.11},{"text":"agree","start":1074.11,"end":1074.75},{"text":"with","start":1075.15,"end":1075.27},{"text":"the","start":1075.27,"end":1075.35},{"text":"statements","start":1075.39,"end":1076.03},{"text":"already","start":1076.03,"end":1076.27},{"text":"made","start":1076.27,"end":1076.67},{"text":"by","start":1076.67,"end":1077.07},{"text":"G7+","start":1077.47,"end":1078.19},{"text":"China,","start":1078.19,"end":1078.67},{"text":"as","start":1078.99,"end":1079.23},{"text":"well","start":1079.23,"end":1079.55},{"text":"as","start":1079.55,"end":1079.79},{"text":"the","start":1079.79,"end":1079.99},{"text":"African","start":1080.19,"end":1080.83},{"text":"group","start":1080.83,"end":1081.23},{"text":"on","start":1081.55,"end":1081.95},{"text":"the","start":1082.03,"end":1082.15},{"text":"accessibility","start":1082.15,"end":1083.15},{"text":"of","start":1083.15,"end":1083.47},{"text":"markets","start":1083.55,"end":1084.27},{"text":"to","start":1084.27,"end":1084.39},{"text":"developing","start":1084.39,"end":1084.83},{"text":"countries.","start":1084.83,"end":1085.55}]},{"text":"We often talk about free trade, but farmers and entrepreneurs in developing countries find themselves facing unfair competition due to agricultural policies of developed countries as well as tariff barriers which limits their access to global markets.","start":1087.79,"end":1113.47,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"We","start":1087.79,"end":1087.91},{"text":"often","start":1087.91,"end":1088.11},{"text":"talk","start":1088.11,"end":1088.27},{"text":"about","start":1088.27,"end":1088.67},{"text":"free","start":1088.67,"end":1089.15},{"text":"trade,","start":1089.15,"end":1089.71},{"text":"but","start":1091.63,"end":1092.03},{"text":"farmers","start":1092.91,"end":1093.59},{"text":"and","start":1093.59,"end":1093.79},{"text":"entrepreneurs","start":1093.79,"end":1094.35},{"text":"in","start":1094.35,"end":1094.43},{"text":"developing","start":1094.43,"end":1094.87},{"text":"countries","start":1094.87,"end":1095.47},{"text":"find","start":1096.39,"end":1096.55},{"text":"themselves","start":1096.55,"end":1096.99},{"text":"facing","start":1096.99,"end":1097.31},{"text":"unfair","start":1097.31,"end":1097.95},{"text":"competition","start":1097.95,"end":1098.99},{"text":"due","start":1100.59,"end":1101.39},{"text":"to","start":1101.39,"end":1101.47},{"text":"agricultural","start":1102.31,"end":1103.31},{"text":"policies","start":1103.63,"end":1104.27},{"text":"of","start":1104.27,"end":1104.35},{"text":"developed","start":1104.35,"end":1104.83},{"text":"countries","start":1104.83,"end":1105.71},{"text":"as","start":1106.11,"end":1106.27},{"text":"well","start":1106.35,"end":1106.59},{"text":"as","start":1106.59,"end":1106.75},{"text":"tariff","start":1106.75,"end":1107.23},{"text":"barriers","start":1107.23,"end":1107.95},{"text":"which","start":1109.95,"end":1110.27},{"text":"limits","start":1110.27,"end":1110.83},{"text":"their","start":1110.91,"end":1111.15},{"text":"access","start":1111.15,"end":1111.71},{"text":"to","start":1111.71,"end":1112.19},{"text":"global","start":1112.19,"end":1112.75},{"text":"markets.","start":1112.75,"end":1113.47}]},{"text":"I would like to thank the CAANIC team and in the draft in 43G, this mention of the elimination of all forms of subsidies on agricultural exports, which we are pleased with.","start":1115.63,"end":1134.19,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"I","start":1115.63,"end":1115.79},{"text":"would","start":1115.79,"end":1115.95},{"text":"like","start":1115.95,"end":1116.27},{"text":"to","start":1116.27,"end":1116.59},{"text":"thank","start":1116.99,"end":1117.39},{"text":"the","start":1117.39,"end":1117.47},{"text":"CAANIC","start":1117.47,"end":1118.39},{"text":"team","start":1118.39,"end":1118.83},{"text":"and","start":1121.87,"end":1122.19},{"text":"in","start":1122.19,"end":1122.51},{"text":"the","start":1122.51,"end":1122.63},{"text":"draft","start":1122.83,"end":1123.79},{"text":"in","start":1124.19,"end":1124.43},{"text":"43G,","start":1124.43,"end":1125.63},{"text":"this","start":1125.63,"end":1125.79},{"text":"mention","start":1125.79,"end":1126.11},{"text":"of","start":1126.11,"end":1126.27},{"text":"the","start":1126.27,"end":1126.39},{"text":"elimination","start":1126.39,"end":1126.95},{"text":"of","start":1126.95,"end":1127.07},{"text":"all","start":1127.07,"end":1127.31},{"text":"forms","start":1127.31,"end":1127.71},{"text":"of","start":1127.75,"end":1127.87},{"text":"subsidies","start":1127.87,"end":1128.91},{"text":"on","start":1129.95,"end":1130.35},{"text":"agricultural","start":1130.51,"end":1131.15},{"text":"exports,","start":1131.15,"end":1132.03},{"text":"which","start":1133.31,"end":1133.55},{"text":"we","start":1133.55,"end":1133.63},{"text":"are","start":1133.63,"end":1133.71},{"text":"pleased","start":1133.71,"end":1133.99},{"text":"with.","start":1133.99,"end":1134.19}]},{"text":"We also would like to add after that sentence another sentence demonstrating commitment to the implementation of free trade measures.","start":1134.19,"end":1146.03,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"We","start":1134.19,"end":1134.35},{"text":"also","start":1134.35,"end":1134.63},{"text":"would","start":1134.63,"end":1134.75},{"text":"like","start":1134.75,"end":1135.07},{"text":"to","start":1135.07,"end":1135.39},{"text":"add","start":1135.39,"end":1135.87},{"text":"after","start":1135.87,"end":1136.19},{"text":"that","start":1136.19,"end":1136.43},{"text":"sentence","start":1136.43,"end":1137.15},{"text":"another","start":1138.75,"end":1139.07},{"text":"sentence","start":1139.07,"end":1139.71},{"text":"demonstrating","start":1139.71,"end":1140.27},{"text":"commitment","start":1140.27,"end":1140.91},{"text":"to","start":1140.91,"end":1140.99},{"text":"the","start":1140.99,"end":1141.07},{"text":"implementation","start":1141.07,"end":1142.19},{"text":"of","start":1142.35,"end":1142.83},{"text":"free","start":1143.31,"end":1143.95},{"text":"trade","start":1144.43,"end":1144.99},{"text":"measures.","start":1145.31,"end":1146.03}]},{"text":"In addition,","start":1147.31,"end":1148.11,"topics":[],"words":[{"text":"In","start":1147.31,"end":1147.47},{"text":"addition,","start":1147.47,"end":1148.11}]}]},{"sentences":[{"text":"There should be a","start":1151.43,"end":1151.83,"topics":[],"words":[{"text":"There","start":1151.43,"end":1151.55},{"text":"should","start":1151.55,"end":1151.71},{"text":"be","start":1151.71,"end":1151.79},{"text":"a","start":1151.79,"end":1151.83}]}]},{"sentences":[{"text":"paragraph that demonstrates commitment to simplifying technical standards and environmental measures, taking into account that the procedure of access to the market should be simplified as well as lifting of tariff barriers.","start":1151.83,"end":1168.19,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."},{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}],"words":[{"text":"paragraph","start":1151.83,"end":1152.43},{"text":"that","start":1152.51,"end":1152.83},{"text":"demonstrates","start":1152.83,"end":1153.55},{"text":"commitment","start":1153.87,"end":1154.55},{"text":"to","start":1154.55,"end":1154.63},{"text":"simplifying","start":1154.63,"end":1155.63},{"text":"technical","start":1155.63,"end":1156.51},{"text":"standards","start":1156.59,"end":1157.47},{"text":"and","start":1157.47,"end":1157.79},{"text":"environmental","start":1157.79,"end":1158.59},{"text":"measures,","start":1158.59,"end":1159.39},{"text":"taking","start":1160.67,"end":1160.95},{"text":"into","start":1160.95,"end":1161.19},{"text":"account","start":1161.19,"end":1161.47},{"text":"that","start":1161.47,"end":1161.63},{"text":"the","start":1161.71,"end":1161.83},{"text":"procedure","start":1162.27,"end":1163.31},{"text":"of","start":1163.51,"end":1163.79},{"text":"access","start":1163.79,"end":1164.11},{"text":"to","start":1164.11,"end":1164.27},{"text":"the","start":1164.27,"end":1164.35},{"text":"market","start":1164.35,"end":1164.67},{"text":"should","start":1164.67,"end":1164.99},{"text":"be","start":1164.99,"end":1165.47},{"text":"simplified","start":1165.55,"end":1166.39},{"text":"as","start":1166.39,"end":1166.51},{"text":"well","start":1166.51,"end":1166.67},{"text":"as","start":1166.67,"end":1166.75},{"text":"lifting","start":1166.75,"end":1167.19},{"text":"of","start":1167.19,"end":1167.27},{"text":"tariff","start":1167.27,"end":1167.55},{"text":"barriers.","start":1167.55,"end":1168.19}]},{"text":"There also should be a paragraph that demonstrates commitment to modernizing the agricultural industry in developing countries in order to improve quality and competitiveness of the products.","start":1170.11,"end":1184.63,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"There","start":1170.11,"end":1170.23},{"text":"also","start":1170.23,"end":1170.39},{"text":"should","start":1170.39,"end":1170.51},{"text":"be","start":1170.51,"end":1170.63},{"text":"a","start":1170.63,"end":1170.67},{"text":"paragraph","start":1170.67,"end":1171.31},{"text":"that","start":1171.31,"end":1171.79},{"text":"demonstrates","start":1172.23,"end":1172.79},{"text":"commitment","start":1172.79,"end":1173.43},{"text":"to","start":1173.43,"end":1173.55},{"text":"modernizing","start":1173.71,"end":1174.59},{"text":"the","start":1174.59,"end":1174.71},{"text":"agricultural","start":1174.71,"end":1175.31},{"text":"industry","start":1175.31,"end":1176.03},{"text":"in","start":1176.51,"end":1176.67},{"text":"developing","start":1176.67,"end":1177.23},{"text":"countries","start":1177.23,"end":1177.95},{"text":"in","start":1178.75,"end":1178.99},{"text":"order","start":1178.99,"end":1179.39},{"text":"to","start":1179.63,"end":1179.95},{"text":"improve","start":1181.75,"end":1182.47},{"text":"quality","start":1182.47,"end":1183.07},{"text":"and","start":1183.07,"end":1183.19},{"text":"competitiveness","start":1183.19,"end":1183.87},{"text":"of","start":1183.87,"end":1183.95},{"text":"the","start":1183.95,"end":1184.03},{"text":"products.","start":1184.03,"end":1184.63}]},{"text":"In closing, access to markets for our developing countries is a key prerequisite to our development and autonomous and long-term development.","start":1185.59,"end":1196.95,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"In","start":1185.59,"end":1185.75},{"text":"closing,","start":1185.75,"end":1186.47},{"text":"access","start":1188.07,"end":1188.47},{"text":"to","start":1188.47,"end":1188.55},{"text":"markets","start":1188.55,"end":1188.95},{"text":"for","start":1188.95,"end":1189.11},{"text":"our","start":1189.11,"end":1189.19},{"text":"developing","start":1189.19,"end":1189.67},{"text":"countries","start":1189.67,"end":1189.99},{"text":"is","start":1189.99,"end":1190.07},{"text":"a","start":1190.07,"end":1190.15},{"text":"key","start":1190.15,"end":1190.47},{"text":"prerequisite","start":1190.47,"end":1191.55},{"text":"to","start":1191.55,"end":1191.83},{"text":"our","start":1191.83,"end":1192.07},{"text":"development","start":1192.07,"end":1193.03},{"text":"and","start":1193.99,"end":1194.35},{"text":"autonomous","start":1194.67,"end":1195.27},{"text":"and","start":1195.35,"end":1195.75},{"text":"long-term","start":1195.83,"end":1196.39},{"text":"development.","start":1196.39,"end":1196.95}]}]},{"sentences":[{"text":"Thank you.","start":1196.95,"end":1197.35,"topics":[],"words":[{"text":"Thank","start":1196.95,"end":1197.19},{"text":"you.","start":1197.19,"end":1197.35}]}]}],"speaker":{"name":null,"affiliation":"BDI","affiliation_full":"Burundi","group":null,"function":"Representative"}},{"statement_number":15,"start":1199.75,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=1200","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of Burundi.","start":1199.75,"end":1202.15,"topics":[],"words":[{"text":"I","start":1199.75,"end":1199.91},{"text":"thank","start":1199.91,"end":1200.23},{"text":"the","start":1200.23,"end":1200.31},{"text":"distinguished","start":1200.31,"end":1200.87},{"text":"representative","start":1200.87,"end":1201.51},{"text":"of","start":1201.51,"end":1201.59},{"text":"Burundi.","start":1201.59,"end":1202.15}]},{"text":"Now I'd like to give the floor to the distinguished representative of Bangladesh, to be followed by the distinguished representative of Pakistan.","start":1202.31,"end":1209.11,"topics":[],"words":[{"text":"Now","start":1202.31,"end":1202.55},{"text":"I'd","start":1202.55,"end":1202.79},{"text":"like","start":1202.79,"end":1202.91},{"text":"to","start":1202.91,"end":1202.99},{"text":"give","start":1203.03,"end":1203.19},{"text":"the","start":1203.19,"end":1203.35},{"text":"floor","start":1203.35,"end":1203.59},{"text":"to","start":1203.59,"end":1203.75},{"text":"the","start":1203.75,"end":1203.83},{"text":"distinguished","start":1203.83,"end":1204.35},{"text":"representative","start":1204.35,"end":1204.95},{"text":"of","start":1204.95,"end":1205.03},{"text":"Bangladesh,","start":1205.03,"end":1205.47},{"text":"to","start":1205.83,"end":1205.99},{"text":"be","start":1205.99,"end":1206.07},{"text":"followed","start":1206.07,"end":1206.43},{"text":"by","start":1206.43,"end":1206.71},{"text":"the","start":1206.71,"end":1206.83},{"text":"distinguished","start":1206.83,"end":1207.51},{"text":"representative","start":1207.51,"end":1208.23},{"text":"of","start":1208.23,"end":1208.39},{"text":"Pakistan.","start":1208.47,"end":1209.11}]}]}],"speaker":{"name":"Karl","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":16,"start":1211.79,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=1212","paragraphs":[{"sentences":[{"text":"Thank you, Chair. Um, Bangladesh aligns itself with LDC and G77 and China, but we would like to suggest the following, following, you know, national capacity.","start":1211.79,"end":1221.51,"topics":[],"words":[{"text":"Thank","start":1211.79,"end":1211.95},{"text":"you,","start":1211.95,"end":1212.03},{"text":"Chair.","start":1212.03,"end":1212.39},{"text":"Um,","start":1213.11,"end":1213.19},{"text":"Bangladesh","start":1213.43,"end":1213.91},{"text":"aligns","start":1213.91,"end":1214.31},{"text":"itself","start":1214.31,"end":1214.71},{"text":"with","start":1214.71,"end":1214.87},{"text":"LDC","start":1214.87,"end":1215.39},{"text":"and","start":1215.39,"end":1215.51},{"text":"G77","start":1215.51,"end":1216.35},{"text":"and","start":1216.35,"end":1216.47},{"text":"China,","start":1216.47,"end":1216.87},{"text":"but","start":1217.27,"end":1217.51},{"text":"we","start":1217.51,"end":1217.71},{"text":"would","start":1217.71,"end":1217.83},{"text":"like","start":1217.83,"end":1218.07},{"text":"to","start":1218.07,"end":1218.15},{"text":"suggest","start":1218.15,"end":1218.51},{"text":"the","start":1218.51,"end":1218.63},{"text":"following,","start":1218.63,"end":1219.11},{"text":"following,","start":1219.51,"end":1220.07},{"text":"you","start":1220.39,"end":1220.47},{"text":"know,","start":1220.47,"end":1220.63},{"text":"national","start":1220.67,"end":1220.99},{"text":"capacity.","start":1220.99,"end":1221.51}]},{"text":"In, um, the Chapeau paragraphs of 42 and 44, this contextualizes the importance of digital technology and digital skills.","start":1222.47,"end":1229.99,"topics":[],"words":[{"text":"In,","start":1222.47,"end":1222.87},{"text":"um,","start":1223.07,"end":1223.15},{"text":"the","start":1223.35,"end":1223.55},{"text":"Chapeau","start":1223.55,"end":1223.91},{"text":"paragraphs","start":1223.91,"end":1224.63},{"text":"of","start":1224.63,"end":1224.71},{"text":"42","start":1224.71,"end":1225.23},{"text":"and","start":1225.23,"end":1225.35},{"text":"44,","start":1225.35,"end":1226.07},{"text":"this","start":1226.07,"end":1226.31},{"text":"contextualizes","start":1226.31,"end":1227.15},{"text":"the","start":1227.15,"end":1227.23},{"text":"importance","start":1227.23,"end":1227.91},{"text":"of","start":1227.91,"end":1228.07},{"text":"digital","start":1228.07,"end":1228.55},{"text":"technology","start":1228.55,"end":1229.07},{"text":"and","start":1229.07,"end":1229.19},{"text":"digital","start":1229.19,"end":1229.59},{"text":"skills.","start":1229.59,"end":1229.99}]},{"text":"However, we do not see any actionable point that follows this particular contextualization.","start":1230.31,"end":1235.27,"topics":[],"words":[{"text":"However,","start":1230.31,"end":1230.79},{"text":"we","start":1230.79,"end":1230.95},{"text":"do","start":1230.95,"end":1231.03},{"text":"not","start":1231.03,"end":1231.27},{"text":"see","start":1231.27,"end":1231.43},{"text":"any","start":1231.43,"end":1231.59},{"text":"actionable","start":1231.59,"end":1232.15},{"text":"point","start":1232.15,"end":1232.55},{"text":"that","start":1232.55,"end":1232.79},{"text":"follows","start":1232.79,"end":1233.11},{"text":"this","start":1233.11,"end":1233.35},{"text":"particular","start":1233.35,"end":1234.11},{"text":"contextualization.","start":1234.15,"end":1235.27}]},{"text":"which in fact would empower the developing countries and LDCs to leverage the digital skills in promoting trade.","start":1235.67,"end":1241.23,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"which","start":1235.67,"end":1235.87},{"text":"in","start":1235.87,"end":1236.03},{"text":"fact","start":1236.03,"end":1236.35},{"text":"would","start":1236.35,"end":1236.51},{"text":"empower","start":1236.51,"end":1237.15},{"text":"the","start":1237.15,"end":1237.27},{"text":"developing","start":1237.27,"end":1237.79},{"text":"countries","start":1237.79,"end":1238.11},{"text":"and","start":1238.11,"end":1238.23},{"text":"LDCs","start":1238.23,"end":1238.63},{"text":"to","start":1238.63,"end":1238.75},{"text":"leverage","start":1238.75,"end":1239.23},{"text":"the","start":1239.23,"end":1239.39},{"text":"digital","start":1239.39,"end":1239.79},{"text":"skills","start":1239.79,"end":1240.27},{"text":"in","start":1240.27,"end":1240.39},{"text":"promoting","start":1240.39,"end":1240.83},{"text":"trade.","start":1240.83,"end":1241.23}]},{"text":"With regard to export diversification, I mean in paragraph 43K and 45D, we welcome the reference to scaling up aid for trade, but we do not see any mention about any initiative for export diversification, which is of course important for LDCs, particularly the graduating ones for facilitating a smooth transition.","start":1243.39,"end":1264.35,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. 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Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"Regarding","start":1334.71,"end":1335.15},{"text":"agriculture","start":1335.15,"end":1335.63},{"text":"subsidy","start":1335.63,"end":1336.03},{"text":"and","start":1336.03,"end":1336.15},{"text":"fisheries","start":1336.15,"end":1336.51},{"text":"subsidy,","start":1336.51,"end":1337.11},{"text":"in","start":1337.51,"end":1337.83},{"text":"42k,","start":1337.83,"end":1338.87},{"text":"We","start":1339.47,"end":1339.63},{"text":"refer","start":1339.63,"end":1340.03},{"text":"to","start":1340.03,"end":1340.19},{"text":"the","start":1340.19,"end":1340.35},{"text":"2015","start":1340.35,"end":1341.43},{"text":"Nairobi","start":1341.43,"end":1341.87},{"text":"WTO","start":1341.87,"end":1342.35},{"text":"Ministerial","start":1342.35,"end":1342.83},{"text":"Decision","start":1342.83,"end":1343.23},{"text":"on","start":1343.23,"end":1343.31},{"text":"Export","start":1343.31,"end":1343.79},{"text":"Competition","start":1343.79,"end":1344.51},{"text":"and","start":1344.91,"end":1345.39},{"text":"Article","start":1345.63,"end":1346.07},{"text":"9.4","start":1346.07,"end":1346.79},{"text":"of","start":1346.79,"end":1346.87},{"text":"the","start":1346.87,"end":1346.95},{"text":"Agreement","start":1346.95,"end":1347.35},{"text":"on","start":1347.35,"end":1347.43},{"text":"Agriculture,","start":1347.43,"end":1347.91},{"text":"which","start":1347.91,"end":1348.11},{"text":"states","start":1348.11,"end":1348.59},{"text":"that","start":1348.59,"end":1348.79},{"text":"the","start":1348.79,"end":1348.87},{"text":"LDCs","start":1348.87,"end":1349.87},{"text":"and","start":1350.27,"end":1350.91},{"text":"net","start":1350.91,"end":1351.31},{"text":"food","start":1351.39,"end":1351.63},{"text":"importing","start":1351.63,"end":1352.11},{"text":"developing","start":1352.11,"end":1352.59},{"text":"countries","start":1352.59,"end":1352.91},{"text":"shall","start":1352.91,"end":1353.15},{"text":"continue","start":1353.15,"end":1353.55},{"text":"to","start":1353.55,"end":1353.67},{"text":"benefit","start":1353.67,"end":1354.27},{"text":"from","start":1354.83,"end":1355.07},{"text":"the","start":1355.07,"end":1355.19},{"text":"provisions","start":1355.19,"end":1355.95},{"text":"of","start":1357.15,"end":1357.31},{"text":"the","start":1357.31,"end":1357.43},{"text":"agreement","start":1357.43,"end":1358.03},{"text":"until","start":1358.15,"end":1358.43},{"text":"the","start":1358.43,"end":1358.55},{"text":"end","start":1358.55,"end":1358.79},{"text":"of","start":1358.79,"end":1358.91},{"text":"2030.","start":1358.91,"end":1359.67}]},{"text":"And in line with the spirit of 45A, we would rather want to see the document extending this provision to the graduating LDCs.","start":1360.27,"end":1368.03,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"And","start":1360.27,"end":1360.59},{"text":"in","start":1360.59,"end":1360.91},{"text":"line","start":1360.91,"end":1361.39},{"text":"with","start":1361.39,"end":1361.55},{"text":"the","start":1361.55,"end":1361.63},{"text":"spirit","start":1361.63,"end":1362.07},{"text":"of","start":1362.07,"end":1362.15},{"text":"45A,","start":1362.15,"end":1363.47},{"text":"we","start":1363.47,"end":1363.79},{"text":"would","start":1363.79,"end":1363.95},{"text":"rather","start":1363.95,"end":1364.27},{"text":"want","start":1364.27,"end":1364.51},{"text":"to","start":1364.51,"end":1364.59},{"text":"see","start":1364.59,"end":1364.91},{"text":"the","start":1364.91,"end":1365.03},{"text":"document","start":1365.03,"end":1365.51},{"text":"extending","start":1365.51,"end":1366.07},{"text":"this","start":1366.07,"end":1366.23},{"text":"provision","start":1366.23,"end":1366.67},{"text":"to","start":1366.67,"end":1366.79},{"text":"the","start":1366.79,"end":1366.91},{"text":"graduating","start":1366.91,"end":1367.51},{"text":"LDCs.","start":1367.51,"end":1368.03}]},{"text":"for a extended period of time.","start":1368.71,"end":1370.39,"topics":[],"words":[{"text":"for","start":1368.71,"end":1369.11},{"text":"a","start":1369.19,"end":1369.27},{"text":"extended","start":1369.27,"end":1369.79},{"text":"period","start":1369.79,"end":1370.07},{"text":"of","start":1370.07,"end":1370.15},{"text":"time.","start":1370.15,"end":1370.39}]},{"text":"Uh, in the same vein in 43B, we would also request avoid calling for the implementation of fisheries subsidies agreement, which is of course yet to be operationalized.","start":1371.19,"end":1380.95,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"Uh,","start":1371.19,"end":1371.23},{"text":"in","start":1371.23,"end":1371.35},{"text":"the","start":1371.35,"end":1371.43},{"text":"same","start":1371.43,"end":1371.87},{"text":"vein","start":1371.87,"end":1372.15},{"text":"in","start":1372.15,"end":1372.31},{"text":"43B,","start":1372.31,"end":1373.59},{"text":"we","start":1374.15,"end":1374.39},{"text":"would","start":1374.39,"end":1374.59},{"text":"also","start":1374.59,"end":1374.79},{"text":"request","start":1374.79,"end":1375.27},{"text":"avoid","start":1375.27,"end":1375.83},{"text":"calling","start":1375.83,"end":1376.15},{"text":"for","start":1376.15,"end":1376.31},{"text":"the","start":1376.31,"end":1376.39},{"text":"implementation","start":1376.39,"end":1377.07},{"text":"of","start":1377.07,"end":1377.15},{"text":"fisheries","start":1377.15,"end":1377.59},{"text":"subsidies","start":1377.59,"end":1378.11},{"text":"agreement,","start":1378.11,"end":1378.55},{"text":"which","start":1378.79,"end":1378.99},{"text":"is","start":1378.99,"end":1379.11},{"text":"of","start":1379.11,"end":1379.23},{"text":"course","start":1379.23,"end":1379.51},{"text":"yet","start":1379.51,"end":1379.71},{"text":"to","start":1379.71,"end":1379.79},{"text":"be","start":1379.79,"end":1379.87},{"text":"operationalized.","start":1379.87,"end":1380.95}]},{"text":"We note the reference to trade related environment measures in 42K.","start":1381.99,"end":1387.11,"topics":[{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}],"words":[{"text":"We","start":1381.99,"end":1382.19},{"text":"note","start":1382.19,"end":1382.43},{"text":"the","start":1382.43,"end":1382.55},{"text":"reference","start":1382.55,"end":1383.11},{"text":"to","start":1383.11,"end":1383.39},{"text":"trade","start":1383.39,"end":1383.75},{"text":"related","start":1383.75,"end":1384.11},{"text":"environment","start":1384.11,"end":1384.67},{"text":"measures","start":1384.67,"end":1385.27},{"text":"in","start":1385.51,"end":1385.91},{"text":"42K.","start":1385.91,"end":1387.11}]},{"text":"If the purpose is to support the climate action, any such discussion should fully embody the principle of CBD-RRC.","start":1387.75,"end":1394.95,"topics":[{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}],"words":[{"text":"If","start":1387.75,"end":1387.91},{"text":"the","start":1387.91,"end":1387.99},{"text":"purpose","start":1387.99,"end":1388.39},{"text":"is","start":1388.39,"end":1388.55},{"text":"to","start":1388.55,"end":1388.67},{"text":"support","start":1388.67,"end":1389.23},{"text":"the","start":1389.23,"end":1389.31},{"text":"climate","start":1389.31,"end":1389.67},{"text":"action,","start":1389.67,"end":1390.15},{"text":"any","start":1390.55,"end":1390.83},{"text":"such","start":1390.83,"end":1391.11},{"text":"discussion","start":1391.11,"end":1391.67},{"text":"should","start":1391.67,"end":1391.99},{"text":"fully","start":1391.99,"end":1392.27},{"text":"embody","start":1392.27,"end":1392.71},{"text":"the","start":1392.71,"end":1392.83},{"text":"principle","start":1392.83,"end":1393.51},{"text":"of","start":1393.51,"end":1393.83},{"text":"CBD-RRC.","start":1393.83,"end":1394.95}]},{"text":"And we would also like to request to clarify the source of reference to the terminology trade-related environment measures.","start":1395.59,"end":1403.59,"topics":[{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}],"words":[{"text":"And","start":1395.59,"end":1395.87},{"text":"we","start":1395.87,"end":1396.03},{"text":"would","start":1396.03,"end":1396.23},{"text":"also","start":1396.23,"end":1396.63},{"text":"like","start":1396.63,"end":1396.87},{"text":"to","start":1396.87,"end":1396.99},{"text":"request","start":1396.99,"end":1397.55},{"text":"to","start":1397.55,"end":1397.63},{"text":"clarify","start":1397.67,"end":1398.15},{"text":"the","start":1398.15,"end":1398.27},{"text":"source","start":1398.27,"end":1398.67},{"text":"of","start":1398.67,"end":1398.79},{"text":"reference","start":1398.79,"end":1399.19},{"text":"to","start":1399.19,"end":1399.31},{"text":"the","start":1399.31,"end":1399.39},{"text":"terminology","start":1399.39,"end":1400.23},{"text":"trade-related","start":1400.87,"end":1401.91},{"text":"environment","start":1401.91,"end":1402.87},{"text":"measures.","start":1403.03,"end":1403.59}]},{"text":"We'll provide a written submission.","start":1403.91,"end":1405.27,"topics":[],"words":[{"text":"We'll","start":1403.91,"end":1404.15},{"text":"provide","start":1404.15,"end":1404.51},{"text":"a","start":1404.51,"end":1404.55},{"text":"written","start":1404.55,"end":1404.83},{"text":"submission.","start":1404.83,"end":1405.27}]},{"text":"Thank you, Chair.","start":1405.27,"end":1405.91,"topics":[],"words":[{"text":"Thank","start":1405.27,"end":1405.51},{"text":"you,","start":1405.51,"end":1405.59},{"text":"Chair.","start":1405.59,"end":1405.91}]}]}],"speaker":{"name":null,"affiliation":"BGD","affiliation_full":"Bangladesh","group":null,"function":"Representative"}},{"statement_number":17,"start":1407.99,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=1408","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of Bangladesh.","start":1407.99,"end":1410.31,"topics":[],"words":[{"text":"I","start":1407.99,"end":1408.15},{"text":"thank","start":1408.15,"end":1408.39},{"text":"the","start":1408.39,"end":1408.51},{"text":"distinguished","start":1408.51,"end":1409.03},{"text":"representative","start":1409.03,"end":1409.67},{"text":"of","start":1409.67,"end":1409.75},{"text":"Bangladesh.","start":1409.83,"end":1410.31}]},{"text":"Now I'd like to give the floor to the distinguished representative of Pakistan, to be followed by the distinguished representative from Reasons, Refocus and Society for International Development.","start":1411.35,"end":1423.67,"topics":[],"words":[{"text":"Now","start":1411.35,"end":1411.51},{"text":"I'd","start":1411.51,"end":1411.79},{"text":"like","start":1411.79,"end":1411.91},{"text":"to","start":1411.91,"end":1412.03},{"text":"give","start":1412.03,"end":1412.23},{"text":"the","start":1412.23,"end":1412.39},{"text":"floor","start":1412.39,"end":1412.63},{"text":"to","start":1412.63,"end":1412.75},{"text":"the","start":1412.79,"end":1412.91},{"text":"distinguished","start":1412.91,"end":1413.43},{"text":"representative","start":1413.43,"end":1414.03},{"text":"of","start":1414.03,"end":1414.11},{"text":"Pakistan,","start":1414.11,"end":1414.71},{"text":"to","start":1415.59,"end":1415.75},{"text":"be","start":1415.75,"end":1415.91},{"text":"followed","start":1415.91,"end":1416.23},{"text":"by","start":1416.23,"end":1416.63},{"text":"the","start":1416.79,"end":1416.91},{"text":"distinguished","start":1416.91,"end":1417.59},{"text":"representative","start":1417.59,"end":1418.47},{"text":"from","start":1418.87,"end":1419.11},{"text":"Reasons,","start":1419.51,"end":1420.39},{"text":"Refocus","start":1420.39,"end":1421.11},{"text":"and","start":1421.11,"end":1421.31},{"text":"Society","start":1421.31,"end":1421.91},{"text":"for","start":1421.91,"end":1422.31},{"text":"International","start":1422.39,"end":1422.95},{"text":"Development.","start":1422.95,"end":1423.67}]}]}],"speaker":{"name":"Karl","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":18,"start":1428.27,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=1429","paragraphs":[{"sentences":[{"text":"Thank you, facilitators.","start":1428.27,"end":1429.51,"topics":[],"words":[{"text":"Thank","start":1428.27,"end":1428.47},{"text":"you,","start":1428.47,"end":1428.71},{"text":"facilitators.","start":1428.71,"end":1429.51}]},{"text":"We align with the statement delivered by Iran on behalf of the G77 and China.","start":1429.51,"end":1433.91,"topics":[],"words":[{"text":"We","start":1429.51,"end":1429.75},{"text":"align","start":1429.75,"end":1430.07},{"text":"with","start":1430.07,"end":1430.19},{"text":"the","start":1430.19,"end":1430.27},{"text":"statement","start":1430.27,"end":1430.75},{"text":"delivered","start":1430.75,"end":1431.07},{"text":"by","start":1431.07,"end":1431.51},{"text":"Iran","start":1431.67,"end":1431.95},{"text":"on","start":1431.95,"end":1432.15},{"text":"behalf","start":1432.15,"end":1432.47},{"text":"of","start":1432.47,"end":1432.55},{"text":"the","start":1432.55,"end":1432.63},{"text":"G77","start":1432.63,"end":1433.31},{"text":"and","start":1433.31,"end":1433.43},{"text":"China.","start":1433.43,"end":1433.91}]},{"text":"We echo their requests to ensure that the qualifiers used when referring to the multilateral trading system are consistent throughout the 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would suggest rephrasing 43D for it to read net food importing developing countries consistent with the terminology used in WTO.","start":1444.31,"end":1456.99,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"We","start":1444.31,"end":1444.87},{"text":"would","start":1444.87,"end":1445.27},{"text":"suggest","start":1445.67,"end":1446.63},{"text":"rephrasing","start":1446.87,"end":1447.59},{"text":"43D","start":1447.59,"end":1449.03},{"text":"for","start":1449.39,"end":1449.55},{"text":"it","start":1449.55,"end":1449.83},{"text":"to","start":1449.83,"end":1449.91},{"text":"read","start":1449.91,"end":1450.43},{"text":"net","start":1450.43,"end":1450.99},{"text":"food","start":1450.99,"end":1451.39},{"text":"importing","start":1451.39,"end":1452.11},{"text":"developing","start":1452.11,"end":1452.63},{"text":"countries","start":1452.63,"end":1453.23},{"text":"consistent","start":1453.23,"end":1453.95},{"text":"with","start":1453.95,"end":1454.11},{"text":"the","start":1454.19,"end":1454.35},{"text":"terminology","start":1454.35,"end":1455.07},{"text":"used","start":1455.07,"end":1455.47},{"text":"in","start":1455.79,"end":1456.27},{"text":"WTO.","start":1456.27,"end":1456.99}]},{"text":"We do support this paragraph in general.","start":1457.47,"end":1461.39,"topics":[],"words":[{"text":"We","start":1457.47,"end":1457.71},{"text":"do","start":1457.71,"end":1457.95},{"text":"support","start":1457.95,"end":1458.43},{"text":"this","start":1458.67,"end":1459.23},{"text":"paragraph","start":1459.39,"end":1460.19},{"text":"in","start":1460.59,"end":1460.91},{"text":"general.","start":1460.91,"end":1461.39}]},{"text":"We request the deletion of 43e.","start":1462.43,"end":1465.35,"topics":[],"words":[{"text":"We","start":1462.43,"end":1462.67},{"text":"request","start":1462.67,"end":1463.27},{"text":"the","start":1463.27,"end":1463.35},{"text":"deletion","start":1463.35,"end":1464.11},{"text":"of","start":1464.11,"end":1464.23},{"text":"43e.","start":1464.23,"end":1465.35}]},{"text":"We are not sure that this falls within the remit of the mandate of the WTO Director-General to undertake such a review, so we request its deletion.","start":1465.95,"end":1475.15,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."}],"words":[{"text":"We","start":1465.95,"end":1466.19},{"text":"are","start":1466.19,"end":1466.31},{"text":"not","start":1466.31,"end":1466.59},{"text":"sure","start":1466.59,"end":1466.79},{"text":"that","start":1466.79,"end":1466.99},{"text":"this","start":1466.99,"end":1467.31},{"text":"falls","start":1467.31,"end":1467.71},{"text":"within","start":1467.71,"end":1468.03},{"text":"the","start":1468.03,"end":1468.15},{"text":"remit","start":1468.15,"end":1468.55},{"text":"of","start":1468.55,"end":1468.83},{"text":"the","start":1468.83,"end":1468.95},{"text":"mandate","start":1468.95,"end":1469.43},{"text":"of","start":1469.43,"end":1469.71},{"text":"the","start":1469.71,"end":1469.79},{"text":"WTO","start":1469.79,"end":1470.35},{"text":"Director-General","start":1470.35,"end":1471.15},{"text":"to","start":1471.15,"end":1471.31},{"text":"undertake","start":1471.31,"end":1471.87},{"text":"such","start":1471.87,"end":1472.19},{"text":"a","start":1472.27,"end":1472.35},{"text":"review,","start":1472.35,"end":1472.99},{"text":"so","start":1473.23,"end":1473.43},{"text":"we","start":1473.43,"end":1473.55},{"text":"request","start":1473.55,"end":1474.27},{"text":"its","start":1474.27,"end":1474.59},{"text":"deletion.","start":1474.59,"end":1475.15}]},{"text":"We propose the addition of an EBIS, a dedicated paragraph on ensuring that trade agreements incorporate reasonable inbuilt and readily available flexibilities for developing countries and LDCs to address crisis situations.","start":1475.79,"end":1491.39,"topics":[{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. 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uh, although the latter part of it needs to be, uh, more clear on when we talk about remaining consistent with relevant international rules and commitments, uh, we need to be clear we're referring to WTO rules and commitments.","start":1522.03,"end":1534.11,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"In","start":1631.79,"end":1631.95},{"text":"E,","start":1631.95,"end":1632.35},{"text":"we","start":1632.35,"end":1632.51},{"text":"request","start":1632.51,"end":1632.95},{"text":"that","start":1632.95,"end":1633.07},{"text":"the","start":1633.07,"end":1633.19},{"text":"listing","start":1633.19,"end":1633.63},{"text":"of","start":1633.63,"end":1633.71},{"text":"disaggregated","start":1633.71,"end":1634.43},{"text":"data","start":1634.43,"end":1634.75},{"text":"be","start":1634.75,"end":1635.31},{"text":"made","start":1635.31,"end":1635.71},{"text":"consistent","start":1635.71,"end":1636.43},{"text":"with","start":1636.43,"end":1636.63},{"text":"that","start":1636.63,"end":1636.99},{"text":"of","start":1637.31,"end":1637.55},{"text":"use","start":1638.03,"end":1638.27},{"text":"in","start":1638.27,"end":1638.43},{"text":"FFD","start":1638.43,"end":1639.07},{"text":"outcome","start":1639.31,"end":1639.63},{"text":"documents.","start":1639.63,"end":1640.35}]},{"text":"And lastly, we request the deletion of 46B.","start":1640.83,"end":1643.87,"topics":[],"words":[{"text":"And","start":1640.83,"end":1641.03},{"text":"lastly,","start":1641.03,"end":1641.63},{"text":"we","start":1641.63,"end":1641.79},{"text":"request","start":1641.79,"end":1642.15},{"text":"the","start":1642.15,"end":1642.23},{"text":"deletion","start":1642.23,"end":1642.67},{"text":"of","start":1642.67,"end":1642.75},{"text":"46B.","start":1642.75,"end":1643.87}]},{"text":"We are not sure why a specific recommendation was picked up from the SG panel on critical minerals.","start":1644.11,"end":1650.91,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"We","start":1644.11,"end":1644.31},{"text":"are","start":1644.31,"end":1644.39},{"text":"not","start":1644.39,"end":1644.59},{"text":"sure","start":1644.59,"end":1645.07},{"text":"why","start":1645.15,"end":1645.63},{"text":"a","start":1645.87,"end":1645.95},{"text":"specific","start":1646.03,"end":1646.51},{"text":"recommendation","start":1646.51,"end":1647.39},{"text":"was","start":1647.39,"end":1647.87},{"text":"picked","start":1648.19,"end":1648.51},{"text":"up","start":1648.51,"end":1648.67},{"text":"from","start":1648.67,"end":1648.91},{"text":"the","start":1648.91,"end":1649.03},{"text":"SG","start":1649.03,"end":1649.39},{"text":"panel","start":1649.39,"end":1649.79},{"text":"on","start":1649.79,"end":1649.95},{"text":"critical","start":1649.95,"end":1650.35},{"text":"minerals.","start":1650.35,"end":1650.91}]},{"text":"There is no clarity on who will develop such a framework.","start":1651.71,"end":1654.91,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"There","start":1651.71,"end":1651.91},{"text":"is","start":1651.91,"end":1652.03},{"text":"no","start":1652.03,"end":1652.19},{"text":"clarity","start":1652.19,"end":1652.75},{"text":"on","start":1652.75,"end":1652.99},{"text":"who","start":1652.99,"end":1653.23},{"text":"will","start":1653.23,"end":1653.39},{"text":"develop","start":1653.39,"end":1653.79},{"text":"such","start":1653.79,"end":1654.19},{"text":"a","start":1654.27,"end":1654.35},{"text":"framework.","start":1654.35,"end":1654.91}]},{"text":"We cannot support this recommendation.","start":1655.79,"end":1657.71,"topics":[],"words":[{"text":"We","start":1655.79,"end":1655.99},{"text":"cannot","start":1655.99,"end":1656.27},{"text":"support","start":1656.27,"end":1656.63},{"text":"this","start":1656.63,"end":1656.83},{"text":"recommendation.","start":1656.83,"end":1657.71}]},{"text":"We can go with A, which talks about supporting value-added activities, but not with 46B regarding to a traceability framework.","start":1657.95,"end":1665.27,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. 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you, Chair.","start":1684.99,"end":1685.79,"topics":[],"words":[{"text":"Thank","start":1684.99,"end":1685.23},{"text":"you,","start":1685.23,"end":1685.35},{"text":"Chair.","start":1685.35,"end":1685.79}]},{"text":"My name is Erica Levinson and I speak now on behalf of Regions Refocus and the CSO FFD mechanism.","start":1685.79,"end":1691.07,"topics":[],"words":[{"text":"My","start":1685.79,"end":1685.95},{"text":"name","start":1685.95,"end":1686.19},{"text":"is","start":1686.19,"end":1686.27},{"text":"Erica","start":1686.27,"end":1686.59},{"text":"Levinson","start":1686.59,"end":1687.03},{"text":"and","start":1687.03,"end":1687.15},{"text":"I","start":1687.15,"end":1687.23},{"text":"speak","start":1687.23,"end":1687.51},{"text":"now","start":1687.51,"end":1687.75},{"text":"on","start":1687.75,"end":1687.87},{"text":"behalf","start":1687.87,"end":1688.19},{"text":"of","start":1688.19,"end":1688.35},{"text":"Regions","start":1688.35,"end":1688.67},{"text":"Refocus","start":1688.67,"end":1689.19},{"text":"and","start":1689.19,"end":1689.31},{"text":"the","start":1689.31,"end":1689.39},{"text":"CSO","start":1689.39,"end":1689.95},{"text":"FFD","start":1689.95,"end":1690.43},{"text":"mechanism.","start":1690.43,"end":1691.07}]},{"text":"The purpose of trade multilateralism has been since its inception to act as an engine of development.","start":1691.51,"end":1696.23,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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people.","start":1696.47,"end":1702.55,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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chronic trade deficits of global south countries, deteriorating terms of trade for primary commodity producers, and… Fundamentally undemocratic trade multilateralism have instead degraded the lives of many people in developing countries and in particular women.","start":1702.87,"end":1716.67,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."},{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing 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multilateral trade is under threat.","start":1722.75,"end":1729.95,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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we must qualify this threat.","start":1730.27,"end":1732.11,"topics":[],"words":[{"text":"However,","start":1730.27,"end":1730.75},{"text":"we","start":1730.75,"end":1730.83},{"text":"must","start":1730.83,"end":1731.07},{"text":"qualify","start":1731.07,"end":1731.55},{"text":"this","start":1731.55,"end":1731.79},{"text":"threat.","start":1731.79,"end":1732.11}]},{"text":"The move from multilateral to bilateral trade agreements and governance facilitated by global north countries and retaliatory trade measures by these same countries the biggest threats.","start":1732.43,"end":1740.75,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"The","start":1732.43,"end":1732.51},{"text":"move","start":1732.51,"end":1732.79},{"text":"from","start":1732.79,"end":1732.95},{"text":"multilateral","start":1732.95,"end":1733.59},{"text":"to","start":1733.59,"end":1733.71},{"text":"bilateral","start":1733.71,"end":1734.27},{"text":"trade","start":1734.27,"end":1734.55},{"text":"agreements","start":1734.55,"end":1734.95},{"text":"and","start":1734.95,"end":1735.07},{"text":"governance","start":1735.07,"end":1735.63},{"text":"facilitated","start":1735.63,"end":1736.27},{"text":"by","start":1736.27,"end":1736.39},{"text":"global","start":1736.39,"end":1736.67},{"text":"north","start":1736.67,"end":1736.87},{"text":"countries","start":1736.87,"end":1737.39},{"text":"and","start":1737.39,"end":1737.51},{"text":"retaliatory","start":1737.51,"end":1738.27},{"text":"trade","start":1738.27,"end":1738.55},{"text":"measures","start":1738.55,"end":1738.83},{"text":"by","start":1738.83,"end":1738.99},{"text":"these","start":1738.99,"end":1739.19},{"text":"same","start":1739.19,"end":1739.39},{"text":"countries","start":1739.39,"end":1739.75},{"text":"the","start":1739.87,"end":1739.99},{"text":"biggest","start":1739.99,"end":1740.39},{"text":"threats.","start":1740.39,"end":1740.75}]},{"text":"Policies deployed to nurture infant industries and domestic markets are not the enemy and play a vital role in the long-term development and structural transformation of countries.","start":1741.15,"end":1748.91,"topics":[{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."}],"words":[{"text":"Policies","start":1741.15,"end":1741.63},{"text":"deployed","start":1741.63,"end":1742.03},{"text":"to","start":1742.03,"end":1742.11},{"text":"nurture","start":1742.11,"end":1742.47},{"text":"infant","start":1742.47,"end":1742.79},{"text":"industries","start":1742.79,"end":1743.19},{"text":"and","start":1743.19,"end":1743.31},{"text":"domestic","start":1743.31,"end":1743.71},{"text":"markets","start":1743.71,"end":1744.11},{"text":"are","start":1744.11,"end":1744.19},{"text":"not","start":1744.19,"end":1744.43},{"text":"the","start":1744.43,"end":1744.55},{"text":"enemy","start":1744.55,"end":1744.91},{"text":"and","start":1744.91,"end":1745.07},{"text":"play","start":1745.07,"end":1745.27},{"text":"a","start":1745.27,"end":1745.31},{"text":"vital","start":1745.31,"end":1745.63},{"text":"role","start":1745.63,"end":1745.95},{"text":"in","start":1745.95,"end":1746.03},{"text":"the","start":1746.03,"end":1746.15},{"text":"long-term","start":1746.15,"end":1746.59},{"text":"development","start":1746.59,"end":1747.07},{"text":"and","start":1747.07,"end":1747.19},{"text":"structural","start":1747.19,"end":1747.59},{"text":"transformation","start":1747.59,"end":1748.19},{"text":"of","start":1748.19,"end":1748.27},{"text":"countries.","start":1748.27,"end":1748.91}]},{"text":"This is clear when looking back into history at the industrialization strategy of now developed countries who have contributed the bulk of historic carbon emissions.","start":1749.23,"end":1756.75,"topics":[],"words":[{"text":"This","start":1749.23,"end":1749.39},{"text":"is","start":1749.39,"end":1749.55},{"text":"clear","start":1749.55,"end":1749.87},{"text":"when","start":1749.87,"end":1750.03},{"text":"looking","start":1750.03,"end":1750.27},{"text":"back","start":1750.27,"end":1750.51},{"text":"into","start":1750.51,"end":1750.71},{"text":"history","start":1750.71,"end":1751.15},{"text":"at","start":1751.15,"end":1751.23},{"text":"the","start":1751.23,"end":1751.35},{"text":"industrialization","start":1751.35,"end":1752.15},{"text":"strategy","start":1752.15,"end":1752.59},{"text":"of","start":1752.59,"end":1752.75},{"text":"now","start":1752.75,"end":1752.91},{"text":"developed","start":1752.91,"end":1753.31},{"text":"countries","start":1753.31,"end":1753.79},{"text":"who","start":1754.03,"end":1754.15},{"text":"have","start":1754.15,"end":1754.27},{"text":"contributed","start":1754.27,"end":1754.83},{"text":"the","start":1754.83,"end":1754.91},{"text":"bulk","start":1754.91,"end":1755.27},{"text":"of","start":1755.27,"end":1755.39},{"text":"historic","start":1755.39,"end":1755.83},{"text":"carbon","start":1755.83,"end":1756.19},{"text":"emissions.","start":1756.19,"end":1756.75}]},{"text":"While there is the need to adapt trade to align with the remaining carbon budget and planetary boundaries, developing countries must retain policy space to develop their economies in light of climate constraints at their own pace and in their own ways while addressing social concerns in line with the principle of common but differentiated responsibility.","start":1757.07,"end":1773.35,"topics":[{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."},{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. 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has profound negative impacts on every aspect of women and girls' lives, exacerbating and creating inequalities based on hierarchies of class, race, ethnicity, sexual orientation, and gender 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on to paragraph 43, the zero draft places too much emphasis on the WTO.","start":1803.75,"end":1808.23,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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WTO.","start":1808.47,"end":1818.39,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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means adopting an ecosystem approach that includes the UN General Assembly, ECOSOC, and UNCTAD's Trade and Development Board.","start":1818.71,"end":1825.03,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."}],"words":[{"text":"This","start":1818.71,"end":1818.87},{"text":"means","start":1818.87,"end":1819.19},{"text":"adopting","start":1819.19,"end":1819.63},{"text":"an","start":1819.63,"end":1819.75},{"text":"ecosystem","start":1819.79,"end":1820.35},{"text":"approach","start":1820.35,"end":1820.79},{"text":"that","start":1820.79,"end":1820.91},{"text":"includes","start":1820.91,"end":1821.35},{"text":"the","start":1821.35,"end":1821.43},{"text":"UN","start":1821.43,"end":1821.75},{"text":"General","start":1821.75,"end":1822.07},{"text":"Assembly,","start":1822.07,"end":1822.67},{"text":"ECOSOC,","start":1822.67,"end":1823.19},{"text":"and","start":1823.19,"end":1823.35},{"text":"UNCTAD's","start":1823.35,"end":1823.83},{"text":"Trade","start":1823.83,"end":1824.03},{"text":"and","start":1824.03,"end":1824.15},{"text":"Development","start":1824.15,"end":1824.63},{"text":"Board.","start":1824.63,"end":1825.03}]},{"text":"The call to implement the WTO agreements on fisheries subsidies and investment facilitation in paragraph 43B is premature.","start":1825.51,"end":1832.39,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."}],"words":[{"text":"The","start":1825.51,"end":1825.63},{"text":"call","start":1825.63,"end":1825.91},{"text":"to","start":1825.91,"end":1826.03},{"text":"implement","start":1826.03,"end":1826.51},{"text":"the","start":1826.51,"end":1826.59},{"text":"WTO","start":1826.59,"end":1827.11},{"text":"agreements","start":1827.11,"end":1827.59},{"text":"on","start":1827.59,"end":1827.75},{"text":"fisheries","start":1827.75,"end":1828.07},{"text":"subsidies","start":1828.07,"end":1828.55},{"text":"and","start":1828.55,"end":1828.67},{"text":"investment","start":1828.67,"end":1829.11},{"text":"facilitation","start":1829.11,"end":1829.87},{"text":"in","start":1830.15,"end":1830.47},{"text":"paragraph","start":1830.47,"end":1830.91},{"text":"43B","start":1830.91,"end":1831.55},{"text":"is","start":1831.55,"end":1831.67},{"text":"premature.","start":1831.67,"end":1832.39}]},{"text":"We echo the G77 and China's reminder that these agreements have not been adopted or ratified yet.","start":1832.63,"end":1837.27,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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building.","start":1837.59,"end":1843.83,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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ambition of paragraph 43C and call on WTO members to deliver an improved, fair, and equitable dispute settlement system that works for all countries, especially developing countries and LDCs, by the 14th WTO Ministerial Conference in 2026.","start":1844.71,"end":1860.67,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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strongly support special and differential treatment addressed by paragraph 43D and assert that it is a core tenet of trade multilateralism.","start":1860.99,"end":1867.79,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."},{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"We","start":1860.99,"end":1861.11},{"text":"strongly","start":1861.11,"end":1861.47},{"text":"support","start":1861.47,"end":1861.83},{"text":"special","start":1861.83,"end":1862.11},{"text":"and","start":1862.11,"end":1862.23},{"text":"differential","start":1862.23,"end":1862.63},{"text":"treatment","start":1862.63,"end":1863.11},{"text":"addressed","start":1863.11,"end":1863.47},{"text":"by","start":1863.47,"end":1863.55},{"text":"paragraph","start":1863.55,"end":1864.07},{"text":"43D","start":1864.07,"end":1864.83},{"text":"and","start":1865.11,"end":1865.27},{"text":"assert","start":1865.27,"end":1865.55},{"text":"that","start":1865.55,"end":1865.67},{"text":"it","start":1865.67,"end":1865.75},{"text":"is","start":1865.75,"end":1865.87},{"text":"a","start":1865.87,"end":1865.91},{"text":"core","start":1865.91,"end":1866.19},{"text":"tenet","start":1866.19,"end":1866.55},{"text":"of","start":1866.55,"end":1866.63},{"text":"trade","start":1866.63,"end":1866.87},{"text":"multilateralism.","start":1866.87,"end":1867.79}]},{"text":"Because of this centrality, we must go one step further and institutionalize this principle beyond the confines of the WTO.","start":1868.03,"end":1873.71,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."},{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"Because","start":1868.03,"end":1868.31},{"text":"of","start":1868.31,"end":1868.39},{"text":"this","start":1868.39,"end":1868.63},{"text":"centrality,","start":1868.63,"end":1869.19},{"text":"we","start":1869.19,"end":1869.27},{"text":"must","start":1869.27,"end":1869.47},{"text":"go","start":1869.47,"end":1869.63},{"text":"one","start":1869.63,"end":1869.87},{"text":"step","start":1869.87,"end":1870.11},{"text":"further","start":1870.11,"end":1870.43},{"text":"and","start":1870.43,"end":1870.55},{"text":"institutionalize","start":1870.55,"end":1871.39},{"text":"this","start":1871.39,"end":1871.55},{"text":"principle","start":1871.55,"end":1871.99},{"text":"beyond","start":1871.99,"end":1872.27},{"text":"the","start":1872.27,"end":1872.35},{"text":"confines","start":1872.35,"end":1872.83},{"text":"of","start":1872.83,"end":1872.91},{"text":"the","start":1872.91,"end":1872.99},{"text":"WTO.","start":1872.99,"end":1873.71}]},{"text":"We call for multilateral agreement under the UN that reaffirms, updates, and strengthens special and differential treatment in a precise, effective, and operational way for developing countries, in particular, LDCs, LLDCs, and SIDS in all trade agreements.","start":1874.03,"end":1887.07,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"We","start":1874.03,"end":1874.19},{"text":"call","start":1874.19,"end":1874.43},{"text":"for","start":1874.43,"end":1874.59},{"text":"multilateral","start":1874.71,"end":1875.23},{"text":"agreement","start":1875.23,"end":1875.63},{"text":"under","start":1875.63,"end":1875.87},{"text":"the","start":1875.87,"end":1875.95},{"text":"UN","start":1875.95,"end":1876.27},{"text":"that","start":1876.27,"end":1876.43},{"text":"reaffirms,","start":1876.43,"end":1877.15},{"text":"updates,","start":1877.15,"end":1877.55},{"text":"and","start":1877.55,"end":1877.71},{"text":"strengthens","start":1877.71,"end":1878.23},{"text":"special","start":1878.23,"end":1878.51},{"text":"and","start":1878.51,"end":1878.63},{"text":"differential","start":1878.63,"end":1879.03},{"text":"treatment","start":1879.03,"end":1879.47},{"text":"in","start":1879.47,"end":1879.59},{"text":"a","start":1879.59,"end":1879.63},{"text":"precise,","start":1879.63,"end":1880.19},{"text":"effective,","start":1880.19,"end":1880.75},{"text":"and","start":1880.75,"end":1880.99},{"text":"operational","start":1880.99,"end":1881.71},{"text":"way","start":1881.71,"end":1881.87},{"text":"for","start":1881.87,"end":1882.03},{"text":"developing","start":1882.03,"end":1882.43},{"text":"countries,","start":1882.43,"end":1882.99},{"text":"in","start":1883.23,"end":1883.39},{"text":"particular,","start":1883.39,"end":1883.95},{"text":"LDCs,","start":1883.95,"end":1884.51},{"text":"LLDCs,","start":1884.51,"end":1885.23},{"text":"and","start":1885.23,"end":1885.35},{"text":"SIDS","start":1885.35,"end":1885.71},{"text":"in","start":1885.87,"end":1886.03},{"text":"all","start":1886.03,"end":1886.27},{"text":"trade","start":1886.27,"end":1886.51},{"text":"agreements.","start":1886.51,"end":1887.07}]},{"text":"Urgent change is needed, and FFD4 is one of our last hopes in achieving any part of the 2030 agenda.","start":1887.47,"end":1892.59,"topics":[],"words":[{"text":"Urgent","start":1887.47,"end":1887.79},{"text":"change","start":1887.79,"end":1887.99},{"text":"is","start":1887.99,"end":1888.11},{"text":"needed,","start":1888.11,"end":1888.39},{"text":"and","start":1888.39,"end":1888.51},{"text":"FFD4","start":1888.51,"end":1889.23},{"text":"is","start":1889.23,"end":1889.31},{"text":"one","start":1889.31,"end":1889.47},{"text":"of","start":1889.47,"end":1889.55},{"text":"our","start":1889.55,"end":1889.63},{"text":"last","start":1889.63,"end":1889.99},{"text":"hopes","start":1889.99,"end":1890.23},{"text":"in","start":1890.23,"end":1890.35},{"text":"achieving","start":1890.35,"end":1890.75},{"text":"any","start":1890.75,"end":1890.99},{"text":"part","start":1890.99,"end":1891.35},{"text":"of","start":1891.35,"end":1891.47},{"text":"the","start":1891.47,"end":1891.55},{"text":"2030","start":1891.55,"end":1892.15},{"text":"agenda.","start":1892.15,"end":1892.59}]},{"text":"Trade must be reoriented as a tool to reduce inequality, to honor the right to development, and to empower developing countries to achieve their national priorities and meet the needs of their populations, including climate and gender justice.","start":1892.83,"end":1904.59,"topics":[{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. This included calls to reform or reconsider investor-State dispute settlement and outdated investment 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you.","start":1904.75,"end":1905.23,"topics":[],"words":[{"text":"Thank","start":1904.75,"end":1905.07},{"text":"you.","start":1905.07,"end":1905.23}]}]}],"speaker":{"name":"Erica Levinson","affiliation":null,"affiliation_full":null,"group":"CSO FFD mechanism","function":"Representative"}},{"statement_number":21,"start":1910.83,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=1911","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of Regions Refocused and Society for International Development.","start":1910.83,"end":1916.47,"topics":[],"words":[{"text":"I","start":1910.83,"end":1911.07},{"text":"thank","start":1911.07,"end":1911.31},{"text":"the","start":1911.31,"end":1911.39},{"text":"distinguished","start":1911.39,"end":1911.91},{"text":"representative","start":1911.91,"end":1912.59},{"text":"of","start":1912.59,"end":1912.83},{"text":"Regions","start":1913.39,"end":1913.91},{"text":"Refocused","start":1913.91,"end":1914.39},{"text":"and","start":1914.39,"end":1914.55},{"text":"Society","start":1914.55,"end":1914.99},{"text":"for","start":1914.99,"end":1915.31},{"text":"International","start":1915.31,"end":1915.87},{"text":"Development.","start":1915.87,"end":1916.47}]},{"text":"Now I'd like to give the floor to the Third World Network to be followed by the distinguished representative of 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mechanism.","start":1934.23,"end":1939.99,"topics":[],"words":[{"text":"My","start":1934.23,"end":1934.31},{"text":"name","start":1934.31,"end":1934.55},{"text":"is","start":1934.55,"end":1934.71},{"text":"Ranja","start":1934.71,"end":1935.03},{"text":"Sengupta","start":1935.03,"end":1935.55},{"text":"and","start":1935.55,"end":1935.75},{"text":"I","start":1935.75,"end":1935.83},{"text":"speak","start":1935.83,"end":1936.23},{"text":"on","start":1936.23,"end":1936.39},{"text":"behalf","start":1936.39,"end":1937.03},{"text":"of","start":1937.03,"end":1937.15},{"text":"both","start":1937.15,"end":1937.27},{"text":"the","start":1937.27,"end":1937.43},{"text":"Third","start":1937.43,"end":1937.75},{"text":"World","start":1937.75,"end":1937.95},{"text":"Network","start":1937.95,"end":1938.43},{"text":"and","start":1938.43,"end":1938.55},{"text":"the","start":1938.55,"end":1938.63},{"text":"CSO","start":1938.63,"end":1939.11},{"text":"FFD","start":1939.11,"end":1939.59},{"text":"mechanism.","start":1939.59,"end":1939.99}]},{"text":"We 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This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."}],"words":[{"text":"In","start":2003.51,"end":2003.75},{"text":"addition,","start":2003.75,"end":2004.39},{"text":"the","start":2004.55,"end":2004.71},{"text":"required","start":2004.71,"end":2005.11},{"text":"policy","start":2005.11,"end":2005.59},{"text":"space","start":2005.59,"end":2005.99},{"text":"cannot","start":2005.99,"end":2006.43},{"text":"be","start":2006.43,"end":2006.55},{"text":"ensured","start":2006.55,"end":2007.19},{"text":"within","start":2007.43,"end":2007.75},{"text":"the","start":2007.75,"end":2007.87},{"text":"current","start":2007.87,"end":2008.19},{"text":"trade","start":2008.19,"end":2008.55},{"text":"rules","start":2008.55,"end":2008.83},{"text":"and","start":2008.83,"end":2008.95},{"text":"commitments.","start":2008.95,"end":2009.67}]},{"text":"If it was, then perhaps this paragraph would not even be needed.","start":2009.91,"end":2013.35,"topics":[],"words":[{"text":"If","start":2009.91,"end":2010.07},{"text":"it","start":2010.07,"end":2010.23},{"text":"was,","start":2010.23,"end":2010.71},{"text":"then","start":2010.71,"end":2010.91},{"text":"perhaps","start":2010.91,"end":2011.35},{"text":"this","start":2011.35,"end":2011.59},{"text":"paragraph","start":2011.59,"end":2012.11},{"text":"would","start":2012.11,"end":2012.31},{"text":"not","start":2012.31,"end":2012.55},{"text":"even","start":2012.55,"end":2012.75},{"text":"be","start":2012.75,"end":2012.87},{"text":"needed.","start":2012.87,"end":2013.35}]},{"text":"It is essential that trade rules and commitments are reshaped to ensure policy space for pursuing such goals.","start":2013.67,"end":2020.63,"topics":[{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. 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Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"The","start":2092.07,"end":2092.15},{"text":"full","start":2092.15,"end":2092.39},{"text":"section","start":2092.39,"end":2092.87},{"text":"on","start":2092.87,"end":2092.95},{"text":"LDCs","start":2092.95,"end":2093.59},{"text":"is","start":2093.59,"end":2093.83},{"text":"very","start":2093.83,"end":2094.07},{"text":"pertinent","start":2094.07,"end":2094.71},{"text":"and","start":2094.71,"end":2094.83},{"text":"we","start":2094.83,"end":2094.95},{"text":"fully","start":2094.95,"end":2095.27},{"text":"support","start":2095.27,"end":2095.67},{"text":"it.","start":2095.67,"end":2095.91}]},{"text":"And in particular, we agree with the LDCs group position in the WTO on a longer transition period for graduating LDCs compared to the measly three years that is being currently offered in the WTO.","start":2096.15,"end":2107.75,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."}],"words":[{"text":"And","start":2096.15,"end":2096.31},{"text":"in","start":2096.31,"end":2096.39},{"text":"particular,","start":2096.39,"end":2097.03},{"text":"we","start":2097.03,"end":2097.19},{"text":"agree","start":2097.19,"end":2097.59},{"text":"with","start":2097.59,"end":2097.71},{"text":"the","start":2097.71,"end":2097.79},{"text":"LDCs","start":2097.79,"end":2098.39},{"text":"group","start":2098.39,"end":2098.59},{"text":"position","start":2098.59,"end":2099.07},{"text":"in","start":2099.07,"end":2099.19},{"text":"the","start":2099.19,"end":2099.27},{"text":"WTO","start":2099.27,"end":2099.99},{"text":"on","start":2100.23,"end":2100.43},{"text":"a","start":2100.43,"end":2100.47},{"text":"longer","start":2100.47,"end":2100.91},{"text":"transition","start":2100.91,"end":2101.43},{"text":"period","start":2101.43,"end":2101.83},{"text":"for","start":2101.83,"end":2101.95},{"text":"graduating","start":2101.95,"end":2102.63},{"text":"LDCs","start":2102.63,"end":2103.19},{"text":"compared","start":2103.51,"end":2103.91},{"text":"to","start":2103.91,"end":2103.99},{"text":"the","start":2103.99,"end":2104.11},{"text":"measly","start":2104.11,"end":2104.55},{"text":"three","start":2104.55,"end":2104.79},{"text":"years","start":2104.79,"end":2105.11},{"text":"that","start":2105.11,"end":2105.31},{"text":"is","start":2105.31,"end":2105.43},{"text":"being","start":2105.43,"end":2105.83},{"text":"currently","start":2105.99,"end":2106.47},{"text":"offered","start":2106.47,"end":2106.87},{"text":"in","start":2106.87,"end":2106.99},{"text":"the","start":2106.99,"end":2107.11},{"text":"WTO.","start":2107.11,"end":2107.75}]},{"text":"Their own assessment of their capacity to deal with the loss of preferences must be respected and the period should be self-determined.","start":2108.07,"end":2115.51,"topics":[{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. 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we would also stress that that is currently under negotiation.","start":2301.79,"end":2304.75,"topics":[],"words":[{"text":"However,","start":2301.79,"end":2302.03},{"text":"we","start":2302.03,"end":2302.19},{"text":"would","start":2302.19,"end":2302.31},{"text":"also","start":2302.31,"end":2302.59},{"text":"stress","start":2302.59,"end":2302.91},{"text":"that","start":2302.91,"end":2303.07},{"text":"that","start":2303.07,"end":2303.23},{"text":"is","start":2303.23,"end":2303.39},{"text":"currently","start":2303.39,"end":2303.87},{"text":"under","start":2303.87,"end":2304.11},{"text":"negotiation.","start":2304.11,"end":2304.75}]},{"text":"Thank 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Chair.","start":2341.15,"end":2342.11,"topics":[],"words":[{"text":"Thank","start":2341.15,"end":2341.47},{"text":"you,","start":2341.47,"end":2341.63},{"text":"Chair.","start":2341.63,"end":2342.11}]},{"text":"My name is Jane Narunga from Siatini speaking on behalf of the FFD civil society 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Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"My","start":2351.15,"end":2351.47},{"text":"input","start":2351.47,"end":2352.19},{"text":"refers","start":2352.19,"end":2352.83},{"text":"to","start":2352.83,"end":2352.99},{"text":"the","start":2352.99,"end":2353.15},{"text":"critical","start":2353.15,"end":2353.71},{"text":"minerals","start":2353.71,"end":2354.19},{"text":"section.","start":2354.19,"end":2354.91}]},{"text":"We have concerns about the section and can support it if it unambiguously protects the sovereignty of developing countries over these resources and strengthens the policy space for the use of these resources for the structure transformation, economic sovereignty, and sustainable development.","start":2355.67,"end":2378.71,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. 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This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."}],"words":[{"text":"We","start":2355.67,"end":2355.79},{"text":"have","start":2355.79,"end":2356.07},{"text":"concerns","start":2356.07,"end":2357.03},{"text":"about","start":2357.19,"end":2357.67},{"text":"the","start":2357.67,"end":2357.83},{"text":"section","start":2357.83,"end":2358.63},{"text":"and","start":2359.11,"end":2359.43},{"text":"can","start":2359.43,"end":2359.75},{"text":"support","start":2359.75,"end":2360.23},{"text":"it","start":2360.23,"end":2360.39},{"text":"if","start":2360.39,"end":2360.63},{"text":"it","start":2360.63,"end":2360.91},{"text":"unambiguously","start":2360.91,"end":2362.07},{"text":"protects","start":2362.07,"end":2362.87},{"text":"the","start":2362.87,"end":2363.03},{"text":"sovereignty","start":2363.11,"end":2364.23},{"text":"of","start":2364.55,"end":2364.79},{"text":"developing","start":2364.79,"end":2365.35},{"text":"countries","start":2365.35,"end":2365.83},{"text":"over","start":2365.83,"end":2366.07},{"text":"these","start":2366.07,"end":2366.23},{"text":"resources","start":2366.23,"end":2367.11},{"text":"and","start":2367.43,"end":2367.75},{"text":"strengthens","start":2367.75,"end":2368.47},{"text":"the","start":2368.47,"end":2368.55},{"text":"policy","start":2368.55,"end":2369.15},{"text":"space","start":2369.15,"end":2369.75},{"text":"for","start":2369.99,"end":2370.23},{"text":"the","start":2370.23,"end":2370.39},{"text":"use","start":2370.39,"end":2370.59},{"text":"of","start":2370.63,"end":2370.87},{"text":"these","start":2370.87,"end":2371.11},{"text":"resources","start":2371.11,"end":2371.91},{"text":"for","start":2372.31,"end":2372.47},{"text":"the","start":2372.47,"end":2372.59},{"text":"structure","start":2372.59,"end":2373.11},{"text":"transformation,","start":2373.11,"end":2374.39},{"text":"economic","start":2374.63,"end":2375.15},{"text":"sovereignty,","start":2375.15,"end":2376.15},{"text":"and","start":2376.47,"end":2376.79},{"text":"sustainable","start":2376.79,"end":2377.67},{"text":"development.","start":2377.75,"end":2378.71}]},{"text":"The chapeau to para 46 should include the need for trade and investment policy flexibility to ensure domestic development and value addition from the use of such critical minerals and for pursuing sustainable objectives.","start":2379.35,"end":2395.59,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."},{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."}],"words":[{"text":"The","start":2379.35,"end":2379.43},{"text":"chapeau","start":2379.43,"end":2380.23},{"text":"to","start":2380.23,"end":2380.47},{"text":"para","start":2380.47,"end":2380.79},{"text":"46","start":2380.79,"end":2381.75},{"text":"should","start":2381.91,"end":2382.31},{"text":"include","start":2382.31,"end":2382.87},{"text":"the","start":2382.87,"end":2382.99},{"text":"need","start":2382.99,"end":2383.43},{"text":"for","start":2383.43,"end":2383.59},{"text":"trade","start":2383.59,"end":2384.11},{"text":"and","start":2384.11,"end":2384.23},{"text":"investment","start":2384.23,"end":2384.87},{"text":"policy","start":2384.87,"end":2385.27},{"text":"flexibility","start":2385.27,"end":2386.23},{"text":"to","start":2386.63,"end":2386.79},{"text":"ensure","start":2386.79,"end":2387.11},{"text":"domestic","start":2387.11,"end":2387.75},{"text":"development","start":2387.75,"end":2388.71},{"text":"and","start":2389.03,"end":2389.27},{"text":"value","start":2389.27,"end":2389.59},{"text":"addition","start":2389.59,"end":2390.31},{"text":"from","start":2390.31,"end":2390.63},{"text":"the","start":2390.63,"end":2390.79},{"text":"use","start":2390.79,"end":2390.99},{"text":"of","start":2390.99,"end":2391.11},{"text":"such","start":2391.11,"end":2391.39},{"text":"critical","start":2391.39,"end":2391.91},{"text":"minerals","start":2391.91,"end":2392.55},{"text":"and","start":2392.79,"end":2393.03},{"text":"for","start":2393.03,"end":2393.19},{"text":"pursuing","start":2393.19,"end":2393.91},{"text":"sustainable","start":2393.91,"end":2394.59},{"text":"objectives.","start":2394.59,"end":2395.59}]},{"text":"Para 46A, we propose to include the following, resource rich countries.","start":2396.07,"end":2402.31,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"Para","start":2396.07,"end":2396.39},{"text":"46A,","start":2396.39,"end":2397.59},{"text":"we","start":2397.91,"end":2398.07},{"text":"propose","start":2398.07,"end":2398.63},{"text":"to","start":2398.63,"end":2398.75},{"text":"include","start":2398.75,"end":2399.27},{"text":"the","start":2399.27,"end":2399.43},{"text":"following,","start":2399.43,"end":2400.23},{"text":"resource","start":2400.71,"end":2401.43},{"text":"rich","start":2401.43,"end":2402.03},{"text":"countries.","start":2402.03,"end":2402.31}]},{"text":"countries and LDCs must have full policy flexibility to determine their trade and investment policy with regard to their critical minerals to ensure transparent, equitable and optimal exploitation and beneficiation of mineral resources for the development of renewable energy and contribute to structured economic transformation and sustainable development.","start":2402.91,"end":2428.51,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."},{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."}],"words":[{"text":"countries","start":2402.91,"end":2403.35},{"text":"and","start":2403.35,"end":2403.55},{"text":"LDCs","start":2403.55,"end":2404.35},{"text":"must","start":2404.35,"end":2404.67},{"text":"have","start":2404.67,"end":2404.83},{"text":"full","start":2404.83,"end":2405.31},{"text":"policy","start":2405.31,"end":2405.83},{"text":"flexibility","start":2405.83,"end":2406.83},{"text":"to","start":2407.23,"end":2407.35},{"text":"determine","start":2407.39,"end":2407.87},{"text":"their","start":2407.87,"end":2408.23},{"text":"trade","start":2408.23,"end":2408.99},{"text":"and","start":2409.07,"end":2409.31},{"text":"investment","start":2409.31,"end":2409.87},{"text":"policy","start":2409.87,"end":2410.59},{"text":"with","start":2410.91,"end":2411.11},{"text":"regard","start":2411.15,"end":2411.43},{"text":"to","start":2411.43,"end":2411.59},{"text":"their","start":2411.59,"end":2411.79},{"text":"critical","start":2411.79,"end":2412.27},{"text":"minerals","start":2412.27,"end":2412.91},{"text":"to","start":2413.23,"end":2413.35},{"text":"ensure","start":2413.35,"end":2413.71},{"text":"transparent,","start":2413.71,"end":2414.71},{"text":"equitable","start":2414.71,"end":2415.39},{"text":"and","start":2415.55,"end":2415.79},{"text":"optimal","start":2415.79,"end":2416.23},{"text":"exploitation","start":2416.23,"end":2417.39},{"text":"and","start":2417.71,"end":2417.95},{"text":"beneficiation","start":2417.95,"end":2419.15},{"text":"of","start":2419.15,"end":2419.39},{"text":"mineral","start":2419.39,"end":2419.67},{"text":"resources","start":2419.67,"end":2420.51},{"text":"for","start":2420.83,"end":2421.03},{"text":"the","start":2421.03,"end":2421.15},{"text":"development","start":2421.15,"end":2421.83},{"text":"of","start":2421.83,"end":2422.03},{"text":"renewable","start":2422.03,"end":2422.59},{"text":"energy","start":2422.59,"end":2423.15},{"text":"and","start":2423.15,"end":2423.39},{"text":"contribute","start":2423.39,"end":2423.99},{"text":"to","start":2423.99,"end":2424.11},{"text":"structured","start":2424.11,"end":2424.67},{"text":"economic","start":2424.75,"end":2425.23},{"text":"transformation","start":2425.23,"end":2426.43},{"text":"and","start":2426.75,"end":2426.99},{"text":"sustainable","start":2426.99,"end":2427.63},{"text":"development.","start":2427.63,"end":2428.51}]},{"text":"We support the call to development partners and international financial institutions to support developing an LDC regarding the mineral exploitation.","start":2429.03,"end":2439.51,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"We","start":2429.03,"end":2429.11},{"text":"support","start":2429.11,"end":2429.83},{"text":"the","start":2429.83,"end":2429.95},{"text":"call","start":2429.95,"end":2430.23},{"text":"to","start":2430.23,"end":2430.43},{"text":"development","start":2430.43,"end":2431.11},{"text":"partners","start":2431.11,"end":2431.79},{"text":"and","start":2431.79,"end":2431.99},{"text":"international","start":2431.99,"end":2432.63},{"text":"financial","start":2432.63,"end":2433.15},{"text":"institutions","start":2433.15,"end":2434.15},{"text":"to","start":2434.47,"end":2434.59},{"text":"support","start":2434.63,"end":2435.07},{"text":"developing","start":2435.07,"end":2435.71},{"text":"an","start":2435.71,"end":2435.91},{"text":"LDC","start":2435.91,"end":2436.71},{"text":"regarding","start":2437.03,"end":2437.75},{"text":"the","start":2437.75,"end":2438.03},{"text":"mineral","start":2438.03,"end":2438.39},{"text":"exploitation.","start":2438.39,"end":2439.51}]},{"text":"However, the para should clearly indicate the kind of support and also indicate that they should support nationally owned and controlled production, refining and processing of critical minerals within those countries.","start":2439.75,"end":2456.47,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"However,","start":2439.75,"end":2440.39},{"text":"the","start":2440.55,"end":2440.75},{"text":"para","start":2440.75,"end":2441.03},{"text":"should","start":2441.03,"end":2441.35},{"text":"clearly","start":2441.35,"end":2441.87},{"text":"indicate","start":2441.87,"end":2442.63},{"text":"the","start":2442.63,"end":2442.71},{"text":"kind","start":2442.71,"end":2443.19},{"text":"of","start":2443.19,"end":2443.35},{"text":"support","start":2443.35,"end":2444.15},{"text":"and","start":2444.63,"end":2444.87},{"text":"also","start":2444.87,"end":2445.35},{"text":"indicate","start":2445.35,"end":2446.07},{"text":"that","start":2446.31,"end":2446.63},{"text":"they","start":2446.63,"end":2446.79},{"text":"should","start":2446.79,"end":2447.19},{"text":"support","start":2447.19,"end":2447.75},{"text":"nationally","start":2447.75,"end":2448.55},{"text":"owned","start":2448.63,"end":2449.27},{"text":"and","start":2449.27,"end":2449.47},{"text":"controlled","start":2449.47,"end":2450.07},{"text":"production,","start":2450.07,"end":2450.95},{"text":"refining","start":2451.27,"end":2451.99},{"text":"and","start":2451.99,"end":2452.23},{"text":"processing","start":2452.23,"end":2452.79},{"text":"of","start":2452.79,"end":2452.95},{"text":"critical","start":2452.95,"end":2453.43},{"text":"minerals","start":2453.43,"end":2453.99},{"text":"within","start":2454.23,"end":2455.03},{"text":"those","start":2455.27,"end":2455.59},{"text":"countries.","start":2455.59,"end":2456.47}]},{"text":"Para 46b, we welcome the development of a global traceability, transparency, and accountability framework.","start":2457.27,"end":2466.67,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"Para","start":2457.27,"end":2457.47},{"text":"46b,","start":2457.47,"end":2458.75},{"text":"we","start":2459.07,"end":2459.27},{"text":"welcome","start":2459.27,"end":2459.79},{"text":"the","start":2459.79,"end":2459.91},{"text":"development","start":2459.91,"end":2460.63},{"text":"of","start":2460.63,"end":2460.79},{"text":"a","start":2460.79,"end":2460.83},{"text":"global","start":2460.83,"end":2461.39},{"text":"traceability,","start":2461.39,"end":2462.51},{"text":"transparency,","start":2462.67,"end":2464.43},{"text":"and","start":2464.67,"end":2464.91},{"text":"accountability","start":2464.91,"end":2465.79},{"text":"framework.","start":2465.79,"end":2466.67}]},{"text":"This framework should strengthen the due diligence of transnational corporations, facilitate corporate regulation and accountability, and uphold environmental and human rights commitment, especially of local communities.","start":2467.07,"end":2483.63,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"This","start":2467.07,"end":2467.39},{"text":"framework","start":2467.39,"end":2467.95},{"text":"should","start":2467.95,"end":2468.27},{"text":"strengthen","start":2468.27,"end":2468.91},{"text":"the","start":2468.91,"end":2469.03},{"text":"due","start":2469.03,"end":2469.23},{"text":"diligence","start":2469.23,"end":2469.87},{"text":"of","start":2469.87,"end":2470.03},{"text":"transnational","start":2470.03,"end":2470.91},{"text":"corporations,","start":2470.91,"end":2471.95},{"text":"facilitate","start":2472.35,"end":2473.15},{"text":"corporate","start":2473.15,"end":2473.71},{"text":"regulation","start":2473.71,"end":2474.59},{"text":"and","start":2474.59,"end":2474.79},{"text":"accountability,","start":2474.79,"end":2475.87},{"text":"and","start":2476.27,"end":2476.51},{"text":"uphold","start":2476.51,"end":2477.15},{"text":"environmental","start":2477.15,"end":2478.27},{"text":"and","start":2478.51,"end":2478.83},{"text":"human","start":2478.83,"end":2479.39},{"text":"rights","start":2479.39,"end":2480.03},{"text":"commitment,","start":2480.03,"end":2480.91},{"text":"especially","start":2481.23,"end":2482.11},{"text":"of","start":2482.11,"end":2482.27},{"text":"local","start":2482.27,"end":2482.59},{"text":"communities.","start":2482.59,"end":2483.63}]},{"text":"That framework should not be used as a unilateral trade barrier.","start":2484.19,"end":2490.75,"topics":[{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}],"words":[{"text":"That","start":2484.19,"end":2484.51},{"text":"framework","start":2484.59,"end":2485.55},{"text":"should","start":2485.55,"end":2485.79},{"text":"not","start":2485.79,"end":2486.03},{"text":"be","start":2486.03,"end":2486.27},{"text":"used","start":2486.27,"end":2487.07},{"text":"as","start":2487.55,"end":2488.11},{"text":"a","start":2488.27,"end":2488.43},{"text":"unilateral","start":2488.43,"end":2489.47},{"text":"trade","start":2489.71,"end":2490.11},{"text":"barrier.","start":2490.11,"end":2490.75}]},{"text":"We welcome the support to developing countries to negotiate commodity contracts as provided in para 46D.","start":2491.47,"end":2502.27,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."}],"words":[{"text":"We","start":2491.47,"end":2491.71},{"text":"welcome","start":2491.71,"end":2492.67},{"text":"the","start":2493.55,"end":2493.71},{"text":"support","start":2493.71,"end":2494.51},{"text":"to","start":2494.51,"end":2494.59},{"text":"developing","start":2494.59,"end":2495.23},{"text":"countries","start":2495.23,"end":2495.79},{"text":"to","start":2495.79,"end":2495.91},{"text":"negotiate","start":2495.91,"end":2496.91},{"text":"commodity","start":2497.23,"end":2497.83},{"text":"contracts","start":2497.83,"end":2498.75},{"text":"as","start":2498.75,"end":2499.15},{"text":"provided","start":2499.15,"end":2500.03},{"text":"in","start":2500.27,"end":2500.51},{"text":"para","start":2500.51,"end":2500.91},{"text":"46D.","start":2500.91,"end":2502.27}]},{"text":"However, we reiterate that governments must have the full policy space to design their trade and investment policies around their critical minerals, to pursue the necessary industrial policies in order to exit the commodity trap.","start":2502.59,"end":2521.55,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."},{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."}],"words":[{"text":"However,","start":2502.59,"end":2503.39},{"text":"we","start":2503.63,"end":2503.83},{"text":"reiterate","start":2503.83,"end":2504.67},{"text":"that","start":2504.67,"end":2504.91},{"text":"governments","start":2504.91,"end":2505.63},{"text":"must","start":2505.63,"end":2506.03},{"text":"have","start":2506.03,"end":2506.43},{"text":"the","start":2506.43,"end":2506.59},{"text":"full","start":2506.59,"end":2507.07},{"text":"policy","start":2507.07,"end":2507.67},{"text":"space","start":2507.67,"end":2508.27},{"text":"to","start":2508.59,"end":2508.75},{"text":"design","start":2508.75,"end":2509.31},{"text":"their","start":2509.31,"end":2509.63},{"text":"trade","start":2509.63,"end":2510.19},{"text":"and","start":2510.19,"end":2510.35},{"text":"investment","start":2510.35,"end":2510.99},{"text":"policies","start":2510.99,"end":2511.79},{"text":"around","start":2512.11,"end":2512.59},{"text":"their","start":2512.59,"end":2512.79},{"text":"critical","start":2512.79,"end":2513.31},{"text":"minerals,","start":2513.31,"end":2513.95},{"text":"to","start":2514.19,"end":2514.43},{"text":"pursue","start":2514.43,"end":2515.23},{"text":"the","start":2515.47,"end":2515.63},{"text":"necessary","start":2515.63,"end":2516.07},{"text":"industrial","start":2516.07,"end":2516.67},{"text":"policies","start":2516.67,"end":2517.47},{"text":"in","start":2517.71,"end":2517.95},{"text":"order","start":2517.95,"end":2518.19},{"text":"to","start":2518.19,"end":2518.39},{"text":"exit","start":2518.39,"end":2519.23},{"text":"the","start":2519.39,"end":2519.63},{"text":"commodity","start":2519.63,"end":2520.59},{"text":"trap.","start":2520.91,"end":2521.55}]},{"text":"Regarding para 46e, we would like to add the following statement to ensure publicly accessible information and accountability of the extractive industries, allowing for public oversight and independent monitoring, including by local communities, to prevent revenue losses in the countries where the resources are extracted from.","start":2522.99,"end":2549.55,"topics":[{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."},{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of 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thank you, Chair.","start":2550.03,"end":2551.15,"topics":[],"words":[{"text":"I","start":2550.03,"end":2550.19},{"text":"thank","start":2550.27,"end":2550.59},{"text":"you,","start":2550.59,"end":2550.75},{"text":"Chair.","start":2550.75,"end":2551.15}]}]}],"speaker":{"name":"Jane Narunga","affiliation":"SEATINI","affiliation_full":"SEATINI","group":"CSO FFD mechanism","function":"Representative"}},{"statement_number":28,"start":2554.27,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=2555","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of Southern and Eastern African Trade Information and Negotiations 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Commerce.","start":2560.99,"end":2565.79,"topics":[],"words":[{"text":"Now","start":2560.99,"end":2561.23},{"text":"I'd","start":2561.23,"end":2561.47},{"text":"like","start":2561.47,"end":2561.59},{"text":"to","start":2561.59,"end":2561.67},{"text":"give","start":2561.67,"end":2561.87},{"text":"the","start":2561.87,"end":2562.03},{"text":"floor","start":2562.03,"end":2562.27},{"text":"to","start":2562.27,"end":2562.43},{"text":"the","start":2562.43,"end":2562.55},{"text":"distinguished","start":2562.55,"end":2563.07},{"text":"representative","start":2563.07,"end":2563.79},{"text":"of","start":2563.79,"end":2564.11},{"text":"International","start":2564.19,"end":2564.87},{"text":"Chamber","start":2564.87,"end":2565.15},{"text":"of","start":2565.15,"end":2565.23},{"text":"Commerce.","start":2565.23,"end":2565.79}]}]}],"speaker":{"name":"Karl","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":29,"start":2569.15,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=2570","paragraphs":[{"sentences":[{"text":"Thank you very much, Mr. Chair.","start":2569.15,"end":2570.31,"topics":[],"words":[{"text":"Thank","start":2569.15,"end":2569.27},{"text":"you","start":2569.27,"end":2569.35},{"text":"very","start":2569.35,"end":2569.51},{"text":"much,","start":2569.51,"end":2569.67},{"text":"Mr.","start":2569.67,"end":2569.99},{"text":"Chair.","start":2569.99,"end":2570.31}]},{"text":"As ICC, we consider the section on international trade as an engine for development very important to the global business community.","start":2570.55,"end":2576.63,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN 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section includes several concrete actions and innovations that align with our priorities.","start":2577.27,"end":2581.59,"topics":[],"words":[{"text":"The","start":2577.27,"end":2577.39},{"text":"section","start":2577.43,"end":2577.79},{"text":"includes","start":2577.79,"end":2578.07},{"text":"several","start":2578.07,"end":2578.47},{"text":"concrete","start":2578.47,"end":2578.83},{"text":"actions","start":2578.83,"end":2579.31},{"text":"and","start":2579.31,"end":2579.43},{"text":"innovations","start":2579.43,"end":2579.99},{"text":"that","start":2579.99,"end":2580.15},{"text":"align","start":2580.15,"end":2580.39},{"text":"with","start":2580.39,"end":2580.55},{"text":"our","start":2580.55,"end":2580.71},{"text":"priorities.","start":2580.71,"end":2581.59}]},{"text":"In this intervention, we would like to emphasize the following areas.","start":2582.23,"end":2585.27,"topics":[],"words":[{"text":"In","start":2582.23,"end":2582.39},{"text":"this","start":2582.39,"end":2582.51},{"text":"intervention,","start":2582.51,"end":2583.19},{"text":"we","start":2583.19,"end":2583.31},{"text":"would","start":2583.31,"end":2583.43},{"text":"like","start":2583.43,"end":2583.59},{"text":"to","start":2583.59,"end":2583.71},{"text":"emphasize","start":2583.71,"end":2584.23},{"text":"the","start":2584.23,"end":2584.31},{"text":"following","start":2584.31,"end":2584.79},{"text":"areas.","start":2584.79,"end":2585.27}]},{"text":"On paragraph 42 and the chapter of 43, we welcome the strong commitment to open and fair markets for trade and investment and a rule-based international trading system anchoring a fully functioning world trade organizations.","start":2586.07,"end":2597.59,"topics":[{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen 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globally need stability, transparency and predictability to make informed long-term trade, business and investment decisions and to deliver the goods, services and solutions needed for a sustainable 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regard to some of the challenges of the international trading system outlined, we would like to put particular emphasis on the importance of 43K and L on addressing challenges and the potential severe negative impacts of trade-related environmental measures.","start":2611.03,"end":2624.07,"topics":[{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. 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thank you.","start":2745.95,"end":2746.43,"topics":[],"words":[{"text":"I","start":2745.95,"end":2746.03},{"text":"thank","start":2746.03,"end":2746.35},{"text":"you.","start":2746.35,"end":2746.43}]}]}],"speaker":{"name":null,"affiliation":"ICC","affiliation_full":"ICC","group":null,"function":"Representative"}},{"statement_number":30,"start":2749.31,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=2750","paragraphs":[{"sentences":[{"text":"I thank the distinguished representative of International Chamber of 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Good morning, everybody.","start":2770.19,"end":2773.19,"topics":[],"words":[{"text":"Thank","start":2770.19,"end":2770.39},{"text":"you","start":2770.39,"end":2770.47},{"text":"very","start":2770.47,"end":2770.63},{"text":"much,","start":2770.63,"end":2770.95},{"text":"Karl.","start":2770.95,"end":2771.51},{"text":"Good","start":2771.87,"end":2772.07},{"text":"morning,","start":2772.07,"end":2772.47},{"text":"everybody.","start":2772.47,"end":2773.19}]},{"text":"We will now start to hear comments on the section on debt and debt sustainability, paragraphs 47 to 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you seven minutes for groups, four minutes for everyone else, and the microphone will be cut 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I have talked long enough to be able to, I think, give the floor to the first speaker, which was the Philippines, but on behalf of middle-income countries, to be followed by the representative of Bangladesh on behalf of the 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Philippines, you have the floor.","start":2836.95,"end":2838.67,"topics":[],"words":[{"text":"So,","start":2836.95,"end":2837.15},{"text":"Philippines,","start":2837.15,"end":2837.79},{"text":"you","start":2837.79,"end":2837.87},{"text":"have","start":2837.87,"end":2838.11},{"text":"the","start":2838.11,"end":2838.19},{"text":"floor.","start":2838.19,"end":2838.67}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-Facilitator"}},{"statement_number":32,"start":2840.99,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=2841","paragraphs":[{"sentences":[{"text":"Thank you, facilitator.","start":2840.99,"end":2842.11,"topics":[],"words":[{"text":"Thank","start":2840.99,"end":2841.23},{"text":"you,","start":2841.23,"end":2841.31},{"text":"facilitator.","start":2841.31,"end":2842.11}]},{"text":"I delivered this intervention on behalf of the like-minded group of of countries for middle income countries composed of Armenia, Belarus, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Lebanon, Mexico, Morocco, Namibia, Panama, Peru, the Philippines, and 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whole chapter doesn't have even just a single reference to middle income countries.","start":2862.67,"end":2867.47,"topics":[],"words":[{"text":"This","start":2862.67,"end":2862.87},{"text":"whole","start":2862.87,"end":2863.07},{"text":"chapter","start":2863.07,"end":2863.63},{"text":"doesn't","start":2863.63,"end":2863.99},{"text":"have","start":2863.99,"end":2864.27},{"text":"even","start":2864.27,"end":2864.59},{"text":"just","start":2864.59,"end":2864.95},{"text":"a","start":2865.15,"end":2865.23},{"text":"single","start":2865.23,"end":2865.63},{"text":"reference","start":2865.63,"end":2866.19},{"text":"to","start":2866.19,"end":2866.35},{"text":"middle","start":2866.35,"end":2866.55},{"text":"income","start":2866.55,"end":2866.83},{"text":"countries.","start":2866.83,"end":2867.47}]},{"text":"The Secretary General's report on debt sustainability and development in 2023 found that the debt servicing of middle-income countries reached the ratio of around 13% of total exports in 2022 and recognized that nearly a third of middle-income countries are at high risk of fiscal crisis.","start":2868.03,"end":2887.43,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"The","start":2868.03,"end":2868.15},{"text":"Secretary","start":2868.15,"end":2868.59},{"text":"General's","start":2868.59,"end":2869.07},{"text":"report","start":2869.07,"end":2869.55},{"text":"on","start":2869.55,"end":2869.71},{"text":"debt","start":2869.71,"end":2869.91},{"text":"sustainability","start":2869.91,"end":2870.87},{"text":"and","start":2870.87,"end":2871.03},{"text":"development","start":2871.03,"end":2871.75},{"text":"in","start":2871.79,"end":2871.95},{"text":"2023","start":2871.95,"end":2872.91},{"text":"found","start":2873.51,"end":2873.83},{"text":"that","start":2873.83,"end":2874.03},{"text":"the","start":2874.03,"end":2874.11},{"text":"debt","start":2874.11,"end":2874.39},{"text":"servicing","start":2874.39,"end":2875.03},{"text":"of","start":2875.03,"end":2875.15},{"text":"middle-income","start":2875.15,"end":2875.67},{"text":"countries","start":2875.67,"end":2876.15},{"text":"reached","start":2876.15,"end":2876.47},{"text":"the","start":2876.55,"end":2876.79},{"text":"ratio","start":2876.79,"end":2877.35},{"text":"of","start":2877.35,"end":2877.59},{"text":"around","start":2877.59,"end":2878.83},{"text":"13%","start":2879.15,"end":2879.19},{"text":"of","start":2879.19,"end":2879.43},{"text":"total","start":2879.43,"end":2879.99},{"text":"exports","start":2880.07,"end":2880.63},{"text":"in","start":2880.63,"end":2880.79},{"text":"2022","start":2880.79,"end":2881.67},{"text":"and","start":2881.99,"end":2882.23},{"text":"recognized","start":2882.23,"end":2882.95},{"text":"that","start":2882.95,"end":2883.11},{"text":"nearly","start":2883.11,"end":2883.67},{"text":"a","start":2883.67,"end":2883.75},{"text":"third","start":2883.75,"end":2883.99},{"text":"of","start":2883.99,"end":2884.07},{"text":"middle-income","start":2884.07,"end":2884.47},{"text":"countries","start":2884.47,"end":2885.03},{"text":"are","start":2885.43,"end":2885.59},{"text":"at","start":2885.59,"end":2885.75},{"text":"high","start":2885.83,"end":2886.15},{"text":"risk","start":2886.15,"end":2886.47},{"text":"of","start":2886.47,"end":2886.59},{"text":"fiscal","start":2886.59,"end":2886.95},{"text":"crisis.","start":2886.95,"end":2887.43}]},{"text":"Unfortunately, the succeeding report left out middle-income countries, which discontinued the monitoring of the debt sustainability situations of middle-income countries.","start":2887.95,"end":2896.87,"topics":[],"words":[{"text":"Unfortunately,","start":2887.95,"end":2888.63},{"text":"the","start":2888.63,"end":2888.75},{"text":"succeeding","start":2888.75,"end":2889.35},{"text":"report","start":2889.35,"end":2889.83},{"text":"left","start":2889.91,"end":2890.31},{"text":"out","start":2890.31,"end":2890.47},{"text":"middle-income","start":2890.47,"end":2890.95},{"text":"countries,","start":2890.95,"end":2891.51},{"text":"which","start":2891.71,"end":2891.91},{"text":"discontinued","start":2891.95,"end":2892.59},{"text":"the","start":2892.59,"end":2892.71},{"text":"monitoring","start":2892.71,"end":2893.39},{"text":"of","start":2893.39,"end":2893.51},{"text":"the","start":2893.51,"end":2893.59},{"text":"debt","start":2893.59,"end":2893.83},{"text":"sustainability","start":2893.83,"end":2894.55},{"text":"situations","start":2894.55,"end":2895.35},{"text":"of","start":2895.59,"end":2895.83},{"text":"middle-income","start":2895.83,"end":2896.31},{"text":"countries.","start":2896.31,"end":2896.87}]},{"text":"We express concern with the way the chapter is premised.","start":2897.91,"end":2901.35,"topics":[],"words":[{"text":"We","start":2897.91,"end":2898.15},{"text":"express","start":2898.15,"end":2898.71},{"text":"concern","start":2898.71,"end":2899.51},{"text":"with","start":2899.51,"end":2899.71},{"text":"the","start":2899.71,"end":2899.83},{"text":"way","start":2899.83,"end":2900.07},{"text":"the","start":2900.07,"end":2900.15},{"text":"chapter","start":2900.15,"end":2900.63},{"text":"is","start":2900.63,"end":2900.79},{"text":"premised.","start":2900.79,"end":2901.35}]},{"text":"It begins with a reference to borrowing, which must be prudently managed, and connects it to a reference to responsible borrowing and lending.","start":2901.87,"end":2910.07,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"It","start":2901.87,"end":2901.99},{"text":"begins","start":2901.99,"end":2902.63},{"text":"with","start":2902.63,"end":2902.79},{"text":"a","start":2902.79,"end":2902.87},{"text":"reference","start":2902.87,"end":2903.43},{"text":"to","start":2903.43,"end":2903.55},{"text":"borrowing,","start":2903.55,"end":2904.15},{"text":"which","start":2904.15,"end":2904.39},{"text":"must","start":2904.39,"end":2904.63},{"text":"be","start":2904.63,"end":2904.79},{"text":"prudently","start":2904.79,"end":2905.27},{"text":"managed,","start":2905.27,"end":2905.79},{"text":"and","start":2906.07,"end":2906.31},{"text":"connects","start":2906.31,"end":2906.79},{"text":"it","start":2906.79,"end":2906.95},{"text":"to","start":2907.19,"end":2907.31},{"text":"a","start":2907.31,"end":2907.35},{"text":"reference","start":2907.35,"end":2907.99},{"text":"to","start":2907.99,"end":2908.07},{"text":"responsible","start":2908.07,"end":2908.79},{"text":"borrowing","start":2908.79,"end":2909.43},{"text":"and","start":2909.43,"end":2909.59},{"text":"lending.","start":2909.59,"end":2910.07}]},{"text":"With this, it shapes the narrative that debt sustainability challenges are primarily the responsibility of the borrowers, and that it tends to imply that these are caused by irresponsible borrowing.","start":2910.71,"end":2922.15,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"With","start":2910.71,"end":2910.99},{"text":"this,","start":2910.99,"end":2911.19},{"text":"it","start":2911.19,"end":2911.43},{"text":"shapes","start":2911.43,"end":2911.75},{"text":"the","start":2911.75,"end":2911.91},{"text":"narrative","start":2911.91,"end":2912.47},{"text":"that","start":2912.71,"end":2912.87},{"text":"debt","start":2912.95,"end":2913.27},{"text":"sustainability","start":2913.27,"end":2913.91},{"text":"challenges","start":2913.91,"end":2914.63},{"text":"are","start":2914.95,"end":2915.19},{"text":"primarily","start":2915.19,"end":2915.79},{"text":"the","start":2915.79,"end":2915.87},{"text":"responsibility","start":2915.87,"end":2916.71},{"text":"of","start":2916.71,"end":2916.79},{"text":"the","start":2916.79,"end":2916.95},{"text":"borrowers,","start":2916.95,"end":2917.67},{"text":"and","start":2917.99,"end":2918.19},{"text":"that","start":2918.19,"end":2918.31},{"text":"it","start":2918.31,"end":2918.51},{"text":"tends","start":2918.51,"end":2918.75},{"text":"to","start":2918.75,"end":2918.83},{"text":"imply","start":2918.83,"end":2919.35},{"text":"that","start":2919.43,"end":2919.67},{"text":"these","start":2919.67,"end":2919.91},{"text":"are","start":2919.91,"end":2920.07},{"text":"caused","start":2920.07,"end":2920.47},{"text":"by","start":2920.63,"end":2920.83},{"text":"irresponsible","start":2920.83,"end":2921.59},{"text":"borrowing.","start":2921.59,"end":2922.15}]},{"text":"Therefore, we propose to balance the narrative by recognizing that debt sustainability depends on a confluence of many factors beyond effective debt management at the international and national levels, and emphasizing that country-specific circumstances and the impact of external shocks such as volatile commodity and energy prices, more intense and frequent disasters, and volatile international capital flows, Rising cost of capital, spillover negative impacts of macroeconomic policies should continue to be taken into account in debt sustainability analysis.","start":2923.19,"end":2959.39,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."},{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"Therefore,","start":2923.19,"end":2923.47},{"text":"we","start":2923.47,"end":2923.59},{"text":"propose","start":2923.59,"end":2924.07},{"text":"to","start":2924.07,"end":2924.19},{"text":"balance","start":2924.19,"end":2924.63},{"text":"the","start":2924.63,"end":2924.79},{"text":"narrative","start":2924.79,"end":2925.35},{"text":"by","start":2925.43,"end":2925.59},{"text":"recognizing","start":2925.59,"end":2926.35},{"text":"that","start":2926.35,"end":2926.55},{"text":"debt","start":2926.63,"end":2926.87},{"text":"sustainability","start":2926.87,"end":2927.83},{"text":"depends","start":2928.15,"end":2928.71},{"text":"on","start":2928.71,"end":2928.87},{"text":"a","start":2928.87,"end":2928.95},{"text":"confluence","start":2928.95,"end":2929.51},{"text":"of","start":2929.51,"end":2929.67},{"text":"many","start":2929.67,"end":2929.91},{"text":"factors","start":2929.91,"end":2930.55},{"text":"beyond","start":2930.71,"end":2931.27},{"text":"effective","start":2931.27,"end":2931.83},{"text":"debt","start":2931.83,"end":2932.15},{"text":"management","start":2932.15,"end":2932.83},{"text":"at","start":2933.35,"end":2933.59},{"text":"the","start":2933.59,"end":2933.67},{"text":"international","start":2933.67,"end":2934.55},{"text":"and","start":2934.55,"end":2934.79},{"text":"national","start":2934.79,"end":2935.23},{"text":"levels,","start":2935.23,"end":2935.75},{"text":"and","start":2935.75,"end":2935.99},{"text":"emphasizing","start":2935.99,"end":2936.63},{"text":"that","start":2936.63,"end":2936.87},{"text":"country-specific","start":2936.87,"end":2937.83},{"text":"circumstances","start":2937.83,"end":2938.79},{"text":"and","start":2939.11,"end":2939.31},{"text":"the","start":2939.31,"end":2939.39},{"text":"impact","start":2939.39,"end":2939.91},{"text":"of","start":2939.99,"end":2940.15},{"text":"external","start":2940.15,"end":2940.63},{"text":"shocks","start":2940.63,"end":2941.03},{"text":"such","start":2941.11,"end":2941.39},{"text":"as","start":2941.39,"end":2941.51},{"text":"volatile","start":2941.51,"end":2942.63},{"text":"commodity","start":2942.63,"end":2943.35},{"text":"and","start":2943.67,"end":2943.83},{"text":"energy","start":2943.83,"end":2944.19},{"text":"prices,","start":2944.19,"end":2944.87},{"text":"more","start":2945.27,"end":2945.51},{"text":"intense","start":2945.51,"end":2946.07},{"text":"and","start":2946.07,"end":2946.31},{"text":"frequent","start":2946.31,"end":2946.87},{"text":"disasters,","start":2946.95,"end":2947.75},{"text":"and","start":2948.07,"end":2948.31},{"text":"volatile","start":2948.31,"end":2948.71},{"text":"international","start":2948.71,"end":2949.27},{"text":"capital","start":2949.27,"end":2949.75},{"text":"flows,","start":2949.75,"end":2950.15},{"text":"Rising","start":2950.67,"end":2950.91},{"text":"cost","start":2950.91,"end":2951.31},{"text":"of","start":2951.31,"end":2951.47},{"text":"capital,","start":2951.47,"end":2952.19},{"text":"spillover","start":2952.43,"end":2952.99},{"text":"negative","start":2952.99,"end":2953.39},{"text":"impacts","start":2953.39,"end":2953.91},{"text":"of","start":2953.91,"end":2954.03},{"text":"macroeconomic","start":2954.03,"end":2954.67},{"text":"policies","start":2954.67,"end":2955.23},{"text":"should","start":2955.47,"end":2955.71},{"text":"continue","start":2955.71,"end":2956.27},{"text":"to","start":2956.27,"end":2956.43},{"text":"be","start":2956.43,"end":2956.51},{"text":"taken","start":2956.51,"end":2956.79},{"text":"into","start":2956.79,"end":2957.03},{"text":"account","start":2957.03,"end":2957.47},{"text":"in","start":2957.55,"end":2957.71},{"text":"debt","start":2957.71,"end":2957.95},{"text":"sustainability","start":2957.95,"end":2958.67},{"text":"analysis.","start":2958.67,"end":2959.39}]},{"text":"On fiscal space for investment in countries facing debt challenges, we propose to change the title to fiscal space for investment in sustainable development.","start":2960.51,"end":2969.91,"topics":[],"words":[{"text":"On","start":2960.51,"end":2960.83},{"text":"fiscal","start":2960.91,"end":2961.47},{"text":"space","start":2961.47,"end":2961.87},{"text":"for","start":2961.87,"end":2962.03},{"text":"investment","start":2962.03,"end":2962.67},{"text":"in","start":2962.67,"end":2962.83},{"text":"countries","start":2962.83,"end":2963.23},{"text":"facing","start":2963.23,"end":2963.63},{"text":"debt","start":2963.63,"end":2963.87},{"text":"challenges,","start":2963.87,"end":2964.59},{"text":"we","start":2964.91,"end":2965.07},{"text":"propose","start":2965.07,"end":2965.55},{"text":"to","start":2965.55,"end":2965.67},{"text":"change","start":2965.71,"end":2966.11},{"text":"the","start":2966.11,"end":2966.19},{"text":"title","start":2966.19,"end":2966.75},{"text":"to","start":2966.75,"end":2966.91},{"text":"fiscal","start":2966.91,"end":2967.31},{"text":"space","start":2967.31,"end":2967.79},{"text":"for","start":2967.79,"end":2967.95},{"text":"investment","start":2967.95,"end":2968.59},{"text":"in","start":2968.59,"end":2968.75},{"text":"sustainable","start":2968.75,"end":2969.31},{"text":"development.","start":2969.31,"end":2969.91}]},{"text":"The considerations under this subsection should address the debt challenges as well as the consideration of alternatives to mobilize additional resources and incentivize public investment in global public goods and SDGs.","start":2970.51,"end":2985.63,"topics":[],"words":[{"text":"The","start":2970.51,"end":2970.67},{"text":"considerations","start":2970.67,"end":2971.63},{"text":"under","start":2971.63,"end":2971.99},{"text":"this","start":2971.99,"end":2972.23},{"text":"subsection","start":2972.23,"end":2972.83},{"text":"should","start":2972.83,"end":2973.15},{"text":"address","start":2973.15,"end":2973.63},{"text":"the","start":2973.63,"end":2973.79},{"text":"debt","start":2973.79,"end":2974.07},{"text":"challenges","start":2974.07,"end":2974.67},{"text":"as","start":2974.83,"end":2975.07},{"text":"well","start":2975.07,"end":2975.31},{"text":"as","start":2975.31,"end":2975.55},{"text":"the","start":2975.55,"end":2975.75},{"text":"consideration","start":2975.75,"end":2976.51},{"text":"of","start":2976.51,"end":2976.83},{"text":"alternatives","start":2976.83,"end":2977.63},{"text":"to","start":2977.71,"end":2977.83},{"text":"mobilize","start":2977.83,"end":2978.51},{"text":"additional","start":2978.75,"end":2979.39},{"text":"resources","start":2979.39,"end":2980.03},{"text":"and","start":2980.03,"end":2980.27},{"text":"incentivize","start":2980.27,"end":2981.07},{"text":"public","start":2981.07,"end":2981.43},{"text":"investment","start":2981.43,"end":2982.99},{"text":"in","start":2982.99,"end":2983.15},{"text":"global","start":2983.15,"end":2983.63},{"text":"public","start":2983.95,"end":2984.27},{"text":"goods","start":2984.27,"end":2984.75},{"text":"and","start":2984.75,"end":2984.91},{"text":"SDGs.","start":2984.91,"end":2985.63}]},{"text":"We express our support to the proposal in 49b on requesting an existing facility to provide systemic support to developing countries to inter alia develop innovative financing mechanisms such as debt swaps.","start":2987.07,"end":3000.27,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":2987.07,"end":2987.27},{"text":"express","start":2987.27,"end":2987.79},{"text":"our","start":2987.79,"end":2987.95},{"text":"support","start":2987.95,"end":2988.39},{"text":"to","start":2988.39,"end":2988.47},{"text":"the","start":2988.47,"end":2988.59},{"text":"proposal","start":2988.59,"end":2989.15},{"text":"in","start":2989.15,"end":2989.31},{"text":"49b","start":2989.31,"end":2990.27},{"text":"on","start":2990.55,"end":2990.71},{"text":"requesting","start":2990.71,"end":2991.19},{"text":"an","start":2991.19,"end":2991.31},{"text":"existing","start":2991.31,"end":2991.79},{"text":"facility","start":2991.79,"end":2992.43},{"text":"to","start":2992.43,"end":2992.59},{"text":"provide","start":2992.59,"end":2993.07},{"text":"systemic","start":2993.07,"end":2993.51},{"text":"support","start":2993.51,"end":2994.07},{"text":"to","start":2994.07,"end":2994.15},{"text":"developing","start":2994.15,"end":2994.59},{"text":"countries","start":2994.59,"end":2995.07},{"text":"to","start":2995.07,"end":2995.39},{"text":"inter","start":2995.71,"end":2995.99},{"text":"alia","start":2995.99,"end":2996.51},{"text":"develop","start":2996.51,"end":2997.07},{"text":"innovative","start":2997.07,"end":2997.63},{"text":"financing","start":2997.63,"end":2998.11},{"text":"mechanisms","start":2998.11,"end":2998.83},{"text":"such","start":2999.15,"end":2999.31},{"text":"as","start":2999.31,"end":2999.47},{"text":"debt","start":2999.47,"end":2999.75},{"text":"swaps.","start":2999.75,"end":3000.27}]},{"text":"We support the list of challenges that should be addressed when it comes to these instruments and would like to add to the list the need to ensure country ownership and transparency in these operations.","start":3000.43,"end":3011.15,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."},{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":3000.43,"end":3000.67},{"text":"support","start":3000.67,"end":3001.07},{"text":"the","start":3001.07,"end":3001.19},{"text":"list","start":3001.19,"end":3001.47},{"text":"of","start":3001.47,"end":3001.55},{"text":"challenges","start":3001.55,"end":3002.19},{"text":"that","start":3002.19,"end":3002.55},{"text":"should","start":3002.55,"end":3002.71},{"text":"be","start":3002.71,"end":3002.83},{"text":"addressed","start":3002.83,"end":3003.31},{"text":"when","start":3003.35,"end":3003.51},{"text":"it","start":3003.51,"end":3003.63},{"text":"comes","start":3003.63,"end":3003.95},{"text":"to","start":3003.95,"end":3004.07},{"text":"these","start":3004.07,"end":3004.27},{"text":"instruments","start":3004.27,"end":3004.99},{"text":"and","start":3005.31,"end":3005.55},{"text":"would","start":3005.55,"end":3005.67},{"text":"like","start":3005.67,"end":3005.87},{"text":"to","start":3005.87,"end":3006.03},{"text":"add","start":3006.03,"end":3006.27},{"text":"to","start":3006.27,"end":3006.35},{"text":"the","start":3006.35,"end":3006.47},{"text":"list","start":3006.47,"end":3006.79},{"text":"the","start":3006.99,"end":3007.19},{"text":"need","start":3007.19,"end":3007.51},{"text":"to","start":3007.51,"end":3007.59},{"text":"ensure","start":3007.59,"end":3008.03},{"text":"country","start":3008.03,"end":3008.35},{"text":"ownership","start":3008.35,"end":3008.99},{"text":"and","start":3009.07,"end":3009.27},{"text":"transparency","start":3009.27,"end":3010.03},{"text":"in","start":3010.03,"end":3010.11},{"text":"these","start":3010.11,"end":3010.35},{"text":"operations.","start":3010.35,"end":3011.15}]},{"text":"We are also of the view that debt swaps for climate in nature deserve a special focus.","start":3011.63,"end":3017.15,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":3011.63,"end":3011.79},{"text":"are","start":3011.79,"end":3011.95},{"text":"also","start":3011.95,"end":3012.31},{"text":"of","start":3012.31,"end":3012.39},{"text":"the","start":3012.39,"end":3012.51},{"text":"view","start":3012.51,"end":3012.83},{"text":"that","start":3012.83,"end":3012.99},{"text":"debt","start":3012.99,"end":3013.23},{"text":"swaps","start":3013.23,"end":3013.79},{"text":"for","start":3013.95,"end":3014.19},{"text":"climate","start":3014.19,"end":3014.67},{"text":"in","start":3014.67,"end":3014.87},{"text":"nature","start":3014.87,"end":3015.47},{"text":"deserve","start":3015.55,"end":3016.19},{"text":"a","start":3016.19,"end":3016.27},{"text":"special","start":3016.27,"end":3016.59},{"text":"focus.","start":3016.59,"end":3017.15}]},{"text":"We would want to see commitments to the provision of support specifically for middle income countries in addressing their liquidity challenges.","start":3018.43,"end":3025.63,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":3018.43,"end":3018.67},{"text":"would","start":3018.67,"end":3018.83},{"text":"want","start":3018.83,"end":3019.07},{"text":"to","start":3019.07,"end":3019.15},{"text":"see","start":3019.15,"end":3019.31},{"text":"commitments","start":3019.31,"end":3019.99},{"text":"to","start":3019.99,"end":3020.07},{"text":"the","start":3020.07,"end":3020.19},{"text":"provision","start":3020.19,"end":3020.63},{"text":"of","start":3020.63,"end":3020.71},{"text":"support","start":3020.71,"end":3021.23},{"text":"specifically","start":3021.23,"end":3022.11},{"text":"for","start":3022.35,"end":3022.59},{"text":"middle","start":3022.59,"end":3022.83},{"text":"income","start":3022.83,"end":3023.07},{"text":"countries","start":3023.07,"end":3023.55},{"text":"in","start":3023.55,"end":3023.71},{"text":"addressing","start":3023.71,"end":3024.35},{"text":"their","start":3024.35,"end":3024.59},{"text":"liquidity","start":3024.59,"end":3025.07},{"text":"challenges.","start":3025.07,"end":3025.63}]},{"text":"The zero draft focuses on existing frameworks that are already available to other group of countries, and we believe we should address what is lacking in the status quo moving forward.","start":3026.23,"end":3035.99,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"The","start":3026.23,"end":3026.31},{"text":"zero","start":3026.31,"end":3026.55},{"text":"draft","start":3026.55,"end":3027.07},{"text":"focuses","start":3027.07,"end":3027.51},{"text":"on","start":3027.51,"end":3027.67},{"text":"existing","start":3027.67,"end":3028.23},{"text":"frameworks","start":3028.23,"end":3028.79},{"text":"that","start":3028.79,"end":3028.95},{"text":"are","start":3028.95,"end":3029.07},{"text":"already","start":3029.07,"end":3029.51},{"text":"available","start":3029.51,"end":3030.07},{"text":"to","start":3030.07,"end":3030.23},{"text":"other","start":3030.23,"end":3030.47},{"text":"group","start":3030.47,"end":3030.67},{"text":"of","start":3030.67,"end":3030.79},{"text":"countries,","start":3030.79,"end":3031.35},{"text":"and","start":3031.67,"end":3031.91},{"text":"we","start":3031.91,"end":3031.99},{"text":"believe","start":3031.99,"end":3032.31},{"text":"we","start":3032.31,"end":3032.39},{"text":"should","start":3032.39,"end":3032.55},{"text":"address","start":3032.55,"end":3033.03},{"text":"what","start":3033.03,"end":3033.19},{"text":"is","start":3033.19,"end":3033.35},{"text":"lacking","start":3033.35,"end":3033.83},{"text":"in","start":3033.83,"end":3033.91},{"text":"the","start":3033.91,"end":3034.03},{"text":"status","start":3034.03,"end":3034.47},{"text":"quo","start":3034.47,"end":3034.79},{"text":"moving","start":3035.19,"end":3035.51},{"text":"forward.","start":3035.51,"end":3035.99}]},{"text":"On debt architecture for debt crisis resolution, we would want the reflection of middle-income countries in the reference to strengthening the common framework.","start":3036.91,"end":3046.39,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":3036.91,"end":3037.11},{"text":"debt","start":3037.11,"end":3037.35},{"text":"architecture","start":3037.35,"end":3038.23},{"text":"for","start":3038.23,"end":3038.39},{"text":"debt","start":3038.39,"end":3038.63},{"text":"crisis","start":3038.63,"end":3039.03},{"text":"resolution,","start":3039.03,"end":3039.83},{"text":"we","start":3040.15,"end":3040.35},{"text":"would","start":3040.35,"end":3040.55},{"text":"want","start":3040.55,"end":3041.11},{"text":"the","start":3041.35,"end":3041.51},{"text":"reflection","start":3041.51,"end":3042.15},{"text":"of","start":3042.15,"end":3042.47},{"text":"middle-income","start":3042.55,"end":3043.03},{"text":"countries","start":3043.03,"end":3043.59},{"text":"in","start":3044.07,"end":3044.19},{"text":"the","start":3044.19,"end":3044.31},{"text":"reference","start":3044.31,"end":3044.79},{"text":"to","start":3044.79,"end":3044.87},{"text":"strengthening","start":3044.87,"end":3045.39},{"text":"the","start":3045.39,"end":3045.51},{"text":"common","start":3045.51,"end":3045.83},{"text":"framework.","start":3045.83,"end":3046.39}]},{"text":"Middle-income countries are the only group of countries that are included in the common framework.","start":3046.87,"end":3051.91,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Middle-income","start":3046.87,"end":3047.43},{"text":"countries","start":3047.43,"end":3048.07},{"text":"are","start":3048.07,"end":3048.31},{"text":"the","start":3048.31,"end":3048.39},{"text":"only","start":3048.39,"end":3048.67},{"text":"group","start":3048.67,"end":3048.87},{"text":"of","start":3048.87,"end":3049.03},{"text":"countries","start":3049.03,"end":3049.83},{"text":"that","start":3049.99,"end":3050.15},{"text":"are","start":3050.15,"end":3050.31},{"text":"included","start":3050.31,"end":3050.87},{"text":"in","start":3050.87,"end":3051.03},{"text":"the","start":3051.03,"end":3051.11},{"text":"common","start":3051.11,"end":3051.43},{"text":"framework.","start":3051.43,"end":3051.91}]},{"text":"Moreover, in improving the common framework, Standardizing debt service suspension should be explicit on automatic debt service standstill to alleviate liquidity constraints, avoid the accumulation of areas, and incentivize quicker resolutions.","start":3052.63,"end":3068.19,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."},{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Moreover,","start":3052.63,"end":3053.35},{"text":"in","start":3053.75,"end":3053.87},{"text":"improving","start":3053.87,"end":3054.31},{"text":"the","start":3054.31,"end":3054.39},{"text":"common","start":3054.39,"end":3054.71},{"text":"framework,","start":3054.71,"end":3055.27},{"text":"Standardizing","start":3055.87,"end":3056.67},{"text":"debt","start":3056.67,"end":3056.91},{"text":"service","start":3056.91,"end":3057.27},{"text":"suspension","start":3057.27,"end":3057.83},{"text":"should","start":3057.83,"end":3058.03},{"text":"be","start":3058.03,"end":3058.19},{"text":"explicit","start":3058.19,"end":3058.91},{"text":"on","start":3058.91,"end":3059.07},{"text":"automatic","start":3059.07,"end":3059.71},{"text":"debt","start":3059.79,"end":3060.03},{"text":"service","start":3060.03,"end":3060.39},{"text":"standstill","start":3060.39,"end":3061.23},{"text":"to","start":3061.55,"end":3061.71},{"text":"alleviate","start":3061.71,"end":3062.27},{"text":"liquidity","start":3062.27,"end":3062.67},{"text":"constraints,","start":3062.67,"end":3063.39},{"text":"avoid","start":3063.71,"end":3064.07},{"text":"the","start":3064.07,"end":3064.19},{"text":"accumulation","start":3064.19,"end":3064.75},{"text":"of","start":3064.75,"end":3064.91},{"text":"areas,","start":3064.91,"end":3065.55},{"text":"and","start":3065.71,"end":3065.91},{"text":"incentivize","start":3065.91,"end":3066.67},{"text":"quicker","start":3066.67,"end":3067.35},{"text":"resolutions.","start":3067.35,"end":3068.19}]},{"text":"Finally, on debt sustainability assessments, we support the proposal to integrate climate and nature risk in the exercise as referenced in paragraph 51A.","start":3068.99,"end":3079.71,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"Finally,","start":3068.99,"end":3069.63},{"text":"on","start":3069.95,"end":3070.11},{"text":"debt","start":3070.11,"end":3070.35},{"text":"sustainability","start":3070.35,"end":3071.07},{"text":"assessments,","start":3071.07,"end":3071.79},{"text":"we","start":3072.03,"end":3072.19},{"text":"support","start":3072.19,"end":3072.67},{"text":"the","start":3072.67,"end":3072.75},{"text":"proposal","start":3072.75,"end":3073.47},{"text":"to","start":3073.47,"end":3073.55},{"text":"integrate","start":3073.55,"end":3074.23},{"text":"climate","start":3074.23,"end":3074.75},{"text":"and","start":3074.75,"end":3074.99},{"text":"nature","start":3074.99,"end":3075.43},{"text":"risk","start":3075.43,"end":3075.75},{"text":"in","start":3075.87,"end":3076.03},{"text":"the","start":3076.03,"end":3076.15},{"text":"exercise","start":3076.15,"end":3076.91},{"text":"as","start":3077.23,"end":3077.47},{"text":"referenced","start":3077.47,"end":3078.11},{"text":"in","start":3078.11,"end":3078.27},{"text":"paragraph","start":3078.27,"end":3078.87},{"text":"51A.","start":3078.87,"end":3079.71}]},{"text":"However, the need to advance this purpose should not be limited to the views of the World Bank and IMF.","start":3080.11,"end":3086.19,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"However,","start":3080.11,"end":3080.75},{"text":"the","start":3080.91,"end":3081.03},{"text":"need","start":3081.03,"end":3081.31},{"text":"to","start":3081.31,"end":3081.39},{"text":"advance","start":3081.39,"end":3081.79},{"text":"this","start":3081.79,"end":3082.03},{"text":"purpose","start":3082.03,"end":3082.59},{"text":"should","start":3083.07,"end":3083.23},{"text":"not","start":3083.23,"end":3083.39},{"text":"be","start":3083.39,"end":3083.55},{"text":"limited","start":3083.55,"end":3083.95},{"text":"to","start":3083.95,"end":3084.03},{"text":"the","start":3084.03,"end":3084.19},{"text":"views","start":3084.19,"end":3084.59},{"text":"of","start":3084.59,"end":3084.83},{"text":"the","start":3084.83,"end":3084.91},{"text":"World","start":3084.91,"end":3085.23},{"text":"Bank","start":3085.23,"end":3085.51},{"text":"and","start":3085.51,"end":3085.71},{"text":"IMF.","start":3085.71,"end":3086.19}]},{"text":"We would like therefore to introduce a reference to the recommendations of the independent expert review on debt, climate and nature so this can be taken into account in this effort.","start":3086.67,"end":3096.75,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new 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be followed by the representative of Egypt on behalf of the Africa Group.","start":3108.71,"end":3113.83,"topics":[],"words":[{"text":"to","start":3108.71,"end":3108.87},{"text":"be","start":3108.87,"end":3108.99},{"text":"followed","start":3108.99,"end":3109.35},{"text":"by","start":3109.35,"end":3109.51},{"text":"the","start":3109.51,"end":3109.63},{"text":"representative","start":3109.63,"end":3110.47},{"text":"of","start":3110.47,"end":3110.95},{"text":"Egypt","start":3110.95,"end":3111.59},{"text":"on","start":3111.59,"end":3111.75},{"text":"behalf","start":3111.75,"end":3112.39},{"text":"of","start":3112.39,"end":3112.55},{"text":"the","start":3112.55,"end":3112.75},{"text":"Africa","start":3112.87,"end":3113.43},{"text":"Group.","start":3113.43,"end":3113.83}]},{"text":"And the list of speakers will be closed during Bangladesh's intervention.","start":3114.23,"end":3118.71,"topics":[],"words":[{"text":"And","start":3114.23,"end":3114.43},{"text":"the","start":3114.43,"end":3114.55},{"text":"list","start":3114.55,"end":3114.83},{"text":"of","start":3114.83,"end":3114.95},{"text":"speakers","start":3114.95,"end":3115.75},{"text":"will","start":3115.75,"end":3115.99},{"text":"be","start":3115.99,"end":3116.15},{"text":"closed","start":3116.15,"end":3116.67},{"text":"during","start":3116.67,"end":3117.03},{"text":"Bangladesh's","start":3117.03,"end":3117.91},{"text":"intervention.","start":3117.91,"end":3118.71}]},{"text":"You have the floor, 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LDCs.","start":3122.47,"end":3127.91,"topics":[],"words":[{"text":"Bangladesh","start":3122.47,"end":3123.11},{"text":"has","start":3123.11,"end":3123.27},{"text":"the","start":3123.27,"end":3123.35},{"text":"honor","start":3123.35,"end":3123.67},{"text":"to","start":3123.67,"end":3123.83},{"text":"make","start":3123.83,"end":3124.23},{"text":"the","start":3124.31,"end":3124.47},{"text":"remarks","start":3124.47,"end":3124.95},{"text":"on","start":3124.95,"end":3125.11},{"text":"behalf","start":3125.11,"end":3125.39},{"text":"of","start":3125.39,"end":3125.67},{"text":"the","start":3125.67,"end":3125.83},{"text":"Least","start":3125.83,"end":3126.27},{"text":"Developed","start":3126.27,"end":3126.71},{"text":"Countries,","start":3126.71,"end":3127.27},{"text":"LDCs.","start":3127.27,"end":3127.91}]},{"text":"We align ourselves with the statement delivered on behalf of the G77 and China.","start":3128.39,"end":3133.51,"topics":[],"words":[{"text":"We","start":3128.39,"end":3128.63},{"text":"align","start":3128.63,"end":3129.07},{"text":"ourselves","start":3129.07,"end":3129.43},{"text":"with","start":3129.43,"end":3129.55},{"text":"the","start":3129.55,"end":3129.63},{"text":"statement","start":3129.63,"end":3130.15},{"text":"delivered","start":3130.15,"end":3130.87},{"text":"on","start":3131.03,"end":3131.19},{"text":"behalf","start":3131.19,"end":3131.59},{"text":"of","start":3131.67,"end":3131.99},{"text":"the","start":3131.99,"end":3132.07},{"text":"G77","start":3132.07,"end":3133.03},{"text":"and","start":3133.03,"end":3133.15},{"text":"China.","start":3133.15,"end":3133.51}]},{"text":"The debt situation in LDCs has reached alarming levels in recent years, exacerbated by the COVID-19 pandemic.","start":3134.51,"end":3142.19,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"We","start":3178.99,"end":3179.19},{"text":"welcome","start":3179.19,"end":3179.59},{"text":"many","start":3179.59,"end":3179.83},{"text":"elements","start":3179.83,"end":3180.43},{"text":"in","start":3180.43,"end":3180.59},{"text":"the","start":3180.59,"end":3180.71},{"text":"zero","start":3180.71,"end":3180.95},{"text":"draft","start":3180.95,"end":3181.39},{"text":"outcome","start":3181.39,"end":3181.75},{"text":"document","start":3181.75,"end":3182.35},{"text":"that","start":3182.35,"end":3182.59},{"text":"address","start":3182.59,"end":3183.07},{"text":"debt","start":3183.07,"end":3183.35},{"text":"sustainability","start":3183.35,"end":3184.07},{"text":"concerns.","start":3184.07,"end":3184.75}]},{"text":"In particular, we strongly support retaining paragraph 48A, which calls on the United Nations Secretary General to create a working group to develop principles on responsible sovereign lending and borrowing.","start":3185.27,"end":3198.71,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"This","start":3199.27,"end":3199.47},{"text":"is","start":3199.47,"end":3199.59},{"text":"crucial","start":3199.59,"end":3199.99},{"text":"for","start":3199.99,"end":3200.11},{"text":"establishing","start":3200.11,"end":3200.79},{"text":"clear","start":3200.79,"end":3201.19},{"text":"guidelines","start":3201.19,"end":3201.91},{"text":"and","start":3201.91,"end":3202.03},{"text":"promoting","start":3202.03,"end":3202.55},{"text":"transparency","start":3202.55,"end":3203.43},{"text":"in","start":3203.43,"end":3203.63},{"text":"debt","start":3203.63,"end":3203.83},{"text":"management.","start":3203.83,"end":3204.47}]},{"text":"However, we strongly suggest using language, building the UNCTAD principles on sovereign borrowing lending in this paragraph.","start":3205.03,"end":3213.11,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"However,","start":3205.03,"end":3205.59},{"text":"we","start":3205.59,"end":3205.75},{"text":"strongly","start":3205.75,"end":3206.23},{"text":"suggest","start":3206.23,"end":3206.79},{"text":"using","start":3206.79,"end":3207.27},{"text":"language,","start":3207.27,"end":3207.99},{"text":"building","start":3208.39,"end":3208.87},{"text":"the","start":3208.87,"end":3209.07},{"text":"UNCTAD","start":3209.07,"end":3209.43},{"text":"principles","start":3209.43,"end":3210.15},{"text":"on","start":3210.15,"end":3210.39},{"text":"sovereign","start":3210.39,"end":3210.95},{"text":"borrowing","start":3210.95,"end":3211.43},{"text":"lending","start":3211.43,"end":3211.91},{"text":"in","start":3212.31,"end":3212.47},{"text":"this","start":3212.47,"end":3212.63},{"text":"paragraph.","start":3212.63,"end":3213.11}]},{"text":"We also emphasize the importance of paragraph 48 which calls for standardized state contingent clauses in loan and debt contracts.","start":3214.43,"end":3223.15,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":3214.43,"end":3214.51},{"text":"also","start":3214.51,"end":3214.79},{"text":"emphasize","start":3214.79,"end":3215.35},{"text":"the","start":3215.35,"end":3215.43},{"text":"importance","start":3215.43,"end":3215.99},{"text":"of","start":3215.99,"end":3216.07},{"text":"paragraph","start":3216.07,"end":3216.47},{"text":"48","start":3216.47,"end":3217.23},{"text":"which","start":3217.67,"end":3217.95},{"text":"calls","start":3217.95,"end":3218.27},{"text":"for","start":3218.27,"end":3218.51},{"text":"standardized","start":3218.51,"end":3219.39},{"text":"state","start":3219.47,"end":3219.87},{"text":"contingent","start":3219.87,"end":3221.11},{"text":"clauses","start":3221.11,"end":3221.55},{"text":"in","start":3221.55,"end":3221.71},{"text":"loan","start":3221.71,"end":3222.19},{"text":"and","start":3222.19,"end":3222.39},{"text":"debt","start":3222.39,"end":3222.51},{"text":"contracts.","start":3222.51,"end":3223.15}]},{"text":"These clauses are essential for ensuring debt service standstills during crisis not covered by standard force majeure provisions, providing much needed flexibility for LDCs facing economic shocks.","start":3223.71,"end":3237.79,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"These","start":3223.71,"end":3223.99},{"text":"clauses","start":3223.99,"end":3224.43},{"text":"are","start":3224.43,"end":3224.51},{"text":"essential","start":3224.51,"end":3225.15},{"text":"for","start":3225.15,"end":3225.39},{"text":"ensuring","start":3225.39,"end":3226.11},{"text":"debt","start":3226.35,"end":3226.67},{"text":"service","start":3226.67,"end":3227.19},{"text":"standstills","start":3227.19,"end":3228.03},{"text":"during","start":3228.19,"end":3228.67},{"text":"crisis","start":3228.67,"end":3229.31},{"text":"not","start":3229.55,"end":3229.79},{"text":"covered","start":3229.79,"end":3230.19},{"text":"by","start":3230.19,"end":3230.31},{"text":"standard","start":3230.31,"end":3230.99},{"text":"force","start":3230.99,"end":3231.31},{"text":"majeure","start":3231.31,"end":3231.87},{"text":"provisions,","start":3231.95,"end":3232.75},{"text":"providing","start":3233.15,"end":3233.87},{"text":"much","start":3234.03,"end":3234.43},{"text":"needed","start":3234.43,"end":3234.79},{"text":"flexibility","start":3234.79,"end":3235.47},{"text":"for","start":3235.47,"end":3235.63},{"text":"LDCs","start":3235.63,"end":3236.27},{"text":"facing","start":3236.35,"end":3236.79},{"text":"economic","start":3236.79,"end":3237.27},{"text":"shocks.","start":3237.27,"end":3237.79}]},{"text":"Paragraph 48E's encouragement for official lenders to increase lending in local currencies is a step in the right direction.","start":3239.19,"end":3247.91,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Paragraph","start":3239.19,"end":3239.71},{"text":"48E's","start":3239.71,"end":3241.23},{"text":"encouragement","start":3241.23,"end":3241.91},{"text":"for","start":3241.91,"end":3242.55},{"text":"official","start":3242.63,"end":3243.15},{"text":"lenders","start":3243.15,"end":3243.59},{"text":"to","start":3243.59,"end":3243.71},{"text":"increase","start":3243.71,"end":3244.23},{"text":"lending","start":3244.23,"end":3244.79},{"text":"in","start":3245.03,"end":3245.27},{"text":"local","start":3245.27,"end":3245.67},{"text":"currencies","start":3245.67,"end":3246.31},{"text":"is","start":3246.31,"end":3246.51},{"text":"a","start":3246.51,"end":3246.55},{"text":"step","start":3246.55,"end":3246.95},{"text":"in","start":3246.95,"end":3247.07},{"text":"the","start":3247.07,"end":3247.15},{"text":"right","start":3247.15,"end":3247.39},{"text":"direction.","start":3247.39,"end":3247.91}]},{"text":"However, given the significant risks posed by foreign currency borrowing for LDCs, we propose strengthening this language to a firm commitment rather than just encouragement.","start":3248.39,"end":3259.11,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"However,","start":3248.39,"end":3248.95},{"text":"given","start":3249.19,"end":3249.55},{"text":"the","start":3249.55,"end":3249.67},{"text":"significant","start":3249.67,"end":3250.47},{"text":"risks","start":3250.47,"end":3250.95},{"text":"posed","start":3250.95,"end":3251.47},{"text":"by","start":3251.47,"end":3251.75},{"text":"foreign","start":3251.75,"end":3252.15},{"text":"currency","start":3252.15,"end":3252.55},{"text":"borrowing","start":3252.55,"end":3252.95},{"text":"for","start":3252.95,"end":3253.11},{"text":"LDCs,","start":3253.11,"end":3253.75},{"text":"we","start":3254.07,"end":3254.31},{"text":"propose","start":3254.31,"end":3254.79},{"text":"strengthening","start":3254.79,"end":3255.35},{"text":"this","start":3255.35,"end":3255.59},{"text":"language","start":3255.59,"end":3256.15},{"text":"to","start":3256.15,"end":3256.35},{"text":"a","start":3256.35,"end":3256.39},{"text":"firm","start":3256.39,"end":3256.71},{"text":"commitment","start":3256.71,"end":3257.27},{"text":"rather","start":3257.51,"end":3257.91},{"text":"than","start":3257.91,"end":3258.07},{"text":"just","start":3258.07,"end":3258.35},{"text":"encouragement.","start":3258.35,"end":3259.11}]},{"text":"We strongly support paragraph 49A's call for efforts to lower borrowing costs.","start":3259.99,"end":3265.67,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."},{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"We","start":3259.99,"end":3260.15},{"text":"strongly","start":3260.15,"end":3260.63},{"text":"support","start":3260.63,"end":3261.19},{"text":"paragraph","start":3261.19,"end":3261.71},{"text":"49A's","start":3261.71,"end":3262.79},{"text":"call","start":3262.79,"end":3263.27},{"text":"for","start":3263.27,"end":3263.51},{"text":"efforts","start":3263.51,"end":3264.15},{"text":"to","start":3264.15,"end":3264.31},{"text":"lower","start":3264.31,"end":3264.71},{"text":"borrowing","start":3264.71,"end":3265.11},{"text":"costs.","start":3265.11,"end":3265.67}]},{"text":"We call for the full implementation of the Debt Service Suspension Initiative, DSSI, and its extension, as well as the effective implementation of the common framework for debt treatments beyond the DSSI.","start":3266.27,"end":3278.67,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."},{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"We","start":3266.27,"end":3266.35},{"text":"call","start":3266.35,"end":3266.59},{"text":"for","start":3266.59,"end":3266.75},{"text":"the","start":3266.75,"end":3266.83},{"text":"full","start":3266.83,"end":3267.07},{"text":"implementation","start":3267.07,"end":3267.87},{"text":"of","start":3267.87,"end":3268.03},{"text":"the","start":3268.03,"end":3268.15},{"text":"Debt","start":3268.15,"end":3268.43},{"text":"Service","start":3268.43,"end":3268.87},{"text":"Suspension","start":3268.87,"end":3269.47},{"text":"Initiative,","start":3269.47,"end":3270.03},{"text":"DSSI,","start":3270.03,"end":3271.15},{"text":"and","start":3271.63,"end":3271.79},{"text":"its","start":3271.79,"end":3271.95},{"text":"extension,","start":3271.95,"end":3272.67},{"text":"as","start":3272.91,"end":3273.15},{"text":"well","start":3273.15,"end":3273.31},{"text":"as","start":3273.31,"end":3273.47},{"text":"the","start":3273.47,"end":3273.59},{"text":"effective","start":3273.59,"end":3274.03},{"text":"implementation","start":3274.03,"end":3274.67},{"text":"of","start":3274.67,"end":3274.75},{"text":"the","start":3274.75,"end":3274.87},{"text":"common","start":3274.87,"end":3275.23},{"text":"framework","start":3275.23,"end":3275.75},{"text":"for","start":3275.75,"end":3275.91},{"text":"debt","start":3275.91,"end":3276.55},{"text":"treatments","start":3276.55,"end":3277.07},{"text":"beyond","start":3277.39,"end":3277.91},{"text":"the","start":3277.91,"end":3277.99},{"text":"DSSI.","start":3277.99,"end":3278.67}]},{"text":"We urge expanding DSS eligibility to cover all LDCs as this would provide critical support for debt management and sustainability.","start":3279.47,"end":3289.87,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":3279.47,"end":3279.71},{"text":"urge","start":3279.71,"end":3280.11},{"text":"expanding","start":3280.11,"end":3280.99},{"text":"DSS","start":3281.07,"end":3282.35},{"text":"eligibility","start":3282.63,"end":3283.43},{"text":"to","start":3283.43,"end":3283.51},{"text":"cover","start":3283.51,"end":3283.95},{"text":"all","start":3283.95,"end":3284.35},{"text":"LDCs","start":3284.35,"end":3285.15},{"text":"as","start":3285.31,"end":3285.95},{"text":"this","start":3286.03,"end":3286.31},{"text":"would","start":3286.31,"end":3286.43},{"text":"provide","start":3286.43,"end":3286.91},{"text":"critical","start":3286.91,"end":3287.23},{"text":"support","start":3287.23,"end":3287.71},{"text":"for","start":3287.71,"end":3288.11},{"text":"debt","start":3288.11,"end":3288.43},{"text":"management","start":3288.43,"end":3288.91},{"text":"and","start":3288.91,"end":3289.03},{"text":"sustainability.","start":3289.03,"end":3289.87}]},{"text":"The recognition in paragraph 50 that current debt architecture is not fit for purpose is crucial.","start":3290.87,"end":3296.23,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"The","start":3290.87,"end":3290.91},{"text":"recognition","start":3290.91,"end":3291.51},{"text":"in","start":3291.51,"end":3291.63},{"text":"paragraph","start":3291.63,"end":3292.11},{"text":"50","start":3292.11,"end":3292.71},{"text":"that","start":3292.79,"end":3293.11},{"text":"current","start":3293.11,"end":3293.51},{"text":"debt","start":3293.51,"end":3293.91},{"text":"architecture","start":3293.91,"end":3294.47},{"text":"is","start":3294.47,"end":3294.63},{"text":"not","start":3294.63,"end":3294.87},{"text":"fit","start":3294.87,"end":3295.07},{"text":"for","start":3295.07,"end":3295.19},{"text":"purpose","start":3295.19,"end":3295.55},{"text":"is","start":3295.55,"end":3295.75},{"text":"crucial.","start":3295.75,"end":3296.23}]},{"text":"We firmly support the call in paragraphs 50e to initiate an intergovernmental process at the United Nations to address gaps in the debt architecture and explore options for enhancing debt sustainability, including a potential multilateral sovereign debt mechanism.","start":3296.63,"end":3311.99,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":3312.91,"end":3312.99},{"text":"also","start":3312.99,"end":3313.39},{"text":"urge","start":3313.39,"end":3313.59},{"text":"creditors","start":3313.59,"end":3314.15},{"text":"and","start":3314.15,"end":3314.31},{"text":"debtors","start":3314.31,"end":3314.91},{"text":"to","start":3315.23,"end":3315.35},{"text":"engage","start":3315.35,"end":3315.79},{"text":"in","start":3315.79,"end":3315.95},{"text":"constructive","start":3315.95,"end":3316.59},{"text":"negotiations","start":3316.59,"end":3317.23},{"text":"to","start":3317.23,"end":3317.31},{"text":"find","start":3317.31,"end":3317.91},{"text":"durable","start":3317.91,"end":3318.27},{"text":"solutions","start":3318.27,"end":3318.83},{"text":"to","start":3318.83,"end":3318.99},{"text":"the","start":3318.99,"end":3319.07},{"text":"debt","start":3319.07,"end":3319.31},{"text":"challenges","start":3319.31,"end":3319.91},{"text":"of","start":3319.91,"end":3320.03},{"text":"the","start":3320.03,"end":3320.11},{"text":"LDCs,","start":3320.11,"end":3320.83},{"text":"including","start":3321.15,"end":3321.71},{"text":"through","start":3322.03,"end":3322.27},{"text":"debt","start":3322.27,"end":3322.51},{"text":"cancellation","start":3322.51,"end":3323.39},{"text":"to","start":3323.39,"end":3323.55},{"text":"create","start":3323.55,"end":3323.95},{"text":"fiscal","start":3324.03,"end":3324.43},{"text":"space","start":3324.43,"end":3324.83},{"text":"for","start":3324.83,"end":3324.99},{"text":"investment","start":3324.99,"end":3325.79},{"text":"in","start":3326.03,"end":3326.19},{"text":"sustainable","start":3326.19,"end":3326.75},{"text":"development","start":3326.75,"end":3327.39},{"text":"and","start":3327.39,"end":3327.59},{"text":"climate","start":3327.59,"end":3327.95},{"text":"action.","start":3327.95,"end":3328.35}]},{"text":"We welcome paragraph 49b's proposal for an institutional home within an existing international financial institution to provide systemic debt management support.","start":3329.23,"end":3339.39,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"We","start":3329.23,"end":3329.31},{"text":"welcome","start":3329.31,"end":3329.79},{"text":"paragraph","start":3329.79,"end":3330.31},{"text":"49b's","start":3330.31,"end":3331.39},{"text":"proposal","start":3331.39,"end":3331.95},{"text":"for","start":3331.95,"end":3332.15},{"text":"an","start":3332.15,"end":3332.23},{"text":"institutional","start":3332.23,"end":3332.99},{"text":"home","start":3332.99,"end":3333.39},{"text":"within","start":3333.39,"end":3334.03},{"text":"an","start":3334.55,"end":3334.67},{"text":"existing","start":3334.67,"end":3335.39},{"text":"international","start":3335.39,"end":3336.11},{"text":"financial","start":3336.11,"end":3336.71},{"text":"institution","start":3336.71,"end":3337.23},{"text":"to","start":3337.23,"end":3337.35},{"text":"provide","start":3337.35,"end":3337.79},{"text":"systemic","start":3337.79,"end":3338.27},{"text":"debt","start":3338.27,"end":3338.51},{"text":"management","start":3338.51,"end":3338.95},{"text":"support.","start":3338.95,"end":3339.39}]},{"text":"This would help streamline and coordinate debt-related assistance for LDCs.","start":3339.87,"end":3343.95,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"This","start":3339.87,"end":3340.07},{"text":"would","start":3340.07,"end":3340.27},{"text":"help","start":3340.27,"end":3340.55},{"text":"streamline","start":3340.55,"end":3341.15},{"text":"and","start":3341.15,"end":3341.31},{"text":"coordinate","start":3341.31,"end":3341.95},{"text":"debt-related","start":3341.95,"end":3342.67},{"text":"assistance","start":3342.67,"end":3343.15},{"text":"for","start":3343.15,"end":3343.31},{"text":"LDCs.","start":3343.31,"end":3343.95}]},{"text":"Furthermore, we suggest strengthening paragraph 53 on IFI governance framework reform.","start":3344.51,"end":3350.75,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Furthermore,","start":3344.51,"end":3345.07},{"text":"we","start":3345.07,"end":3345.23},{"text":"suggest","start":3345.23,"end":3345.67},{"text":"strengthening","start":3345.67,"end":3346.27},{"text":"paragraph","start":3346.27,"end":3346.87},{"text":"53","start":3346.87,"end":3347.39},{"text":"on","start":3347.39,"end":3347.63},{"text":"IFI","start":3347.63,"end":3348.11},{"text":"governance","start":3348.11,"end":3348.67},{"text":"framework","start":3348.67,"end":3349.31},{"text":"reform.","start":3350.19,"end":3350.75}]},{"text":"The current proposals, while welcome, do not go far enough in addressing the underrepresentation of LDCs in decision-making process.","start":3351.23,"end":3358.83,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"paragraph","start":3369.19,"end":3369.71},{"text":"fifty","start":3369.71,"end":3370.07},{"text":"four","start":3370.07,"end":3370.55},{"text":"is","start":3370.55,"end":3370.87},{"text":"called","start":3370.87,"end":3371.19},{"text":"to","start":3371.19,"end":3371.27},{"text":"review","start":3371.27,"end":3371.75},{"text":"special","start":3371.75,"end":3372.11},{"text":"drawing","start":3372.11,"end":3372.47},{"text":"rights","start":3372.47,"end":3372.95},{"text":"sdr's","start":3372.95,"end":3373.75},{"text":"through","start":3373.99,"end":3374.15},{"text":"the","start":3374.15,"end":3374.31},{"text":"imf","start":3374.31,"end":3374.79},{"text":"board","start":3374.87,"end":3375.19},{"text":"of","start":3375.19,"end":3375.27},{"text":"governors","start":3375.27,"end":3376.71},{"text":"is","start":3376.71,"end":3376.87},{"text":"important.","start":3376.87,"end":3377.51}]},{"text":"However, we believe this section should be strengthened.","start":3377.99,"end":3380.71,"topics":[],"words":[{"text":"However,","start":3377.99,"end":3378.31},{"text":"we","start":3378.31,"end":3378.43},{"text":"believe","start":3378.43,"end":3378.79},{"text":"this","start":3378.79,"end":3379.07},{"text":"section","start":3379.07,"end":3379.59},{"text":"should","start":3379.75,"end":3379.99},{"text":"be","start":3379.99,"end":3380.11},{"text":"strengthened.","start":3380.11,"end":3380.71}]},{"text":"We propose including a specific commitment from developed countries to rechannel at least $100 billion in SDRs allocation to LDCs on concessional terms.","start":3380.87,"end":3392.55,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"This","start":3393.03,"end":3393.23},{"text":"would","start":3393.23,"end":3393.35},{"text":"provide","start":3393.35,"end":3393.75},{"text":"much","start":3393.75,"end":3394.07},{"text":"needed","start":3394.07,"end":3394.39},{"text":"liquidity","start":3394.39,"end":3394.91},{"text":"support","start":3394.91,"end":3395.43},{"text":"for","start":3395.67,"end":3395.91},{"text":"LDCs","start":3395.91,"end":3396.47},{"text":"facing","start":3396.47,"end":3396.79},{"text":"economic","start":3396.79,"end":3397.27},{"text":"challenges.","start":3397.27,"end":3397.91}]},{"text":"While the document outlines many positive areas, we believe some critical issues need to be considered.","start":3398.35,"end":3403.83,"topics":[],"words":[{"text":"While","start":3398.35,"end":3398.55},{"text":"the","start":3398.55,"end":3398.67},{"text":"document","start":3398.67,"end":3399.19},{"text":"outlines","start":3399.19,"end":3399.75},{"text":"many","start":3399.75,"end":3400.07},{"text":"positive","start":3400.07,"end":3400.55},{"text":"areas,","start":3400.55,"end":3401.03},{"text":"we","start":3401.19,"end":3401.43},{"text":"believe","start":3401.43,"end":3401.79},{"text":"some","start":3401.79,"end":3402.07},{"text":"critical","start":3402.07,"end":3402.47},{"text":"issues","start":3402.47,"end":3402.87},{"text":"need","start":3402.87,"end":3403.03},{"text":"to","start":3403.03,"end":3403.15},{"text":"be","start":3403.15,"end":3403.27},{"text":"considered.","start":3403.27,"end":3403.83}]},{"text":"Drawing from the Doha Programme of Action, we strongly urge the international community to take more ambitious and decisive action on debt relief for LDCs and propose to suggest appropriate language in the text.","start":3404.55,"end":3417.03,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Drawing","start":3404.55,"end":3404.83},{"text":"from","start":3404.83,"end":3405.03},{"text":"the","start":3405.03,"end":3405.11},{"text":"Doha","start":3405.11,"end":3405.83},{"text":"Programme","start":3406.31,"end":3406.75},{"text":"of","start":3406.75,"end":3406.87},{"text":"Action,","start":3406.87,"end":3407.35},{"text":"we","start":3407.59,"end":3407.75},{"text":"strongly","start":3407.75,"end":3408.31},{"text":"urge","start":3408.31,"end":3408.63},{"text":"the","start":3408.63,"end":3408.71},{"text":"international","start":3408.71,"end":3409.27},{"text":"community","start":3409.27,"end":3409.83},{"text":"to","start":3409.83,"end":3409.99},{"text":"take","start":3410.03,"end":3410.23},{"text":"more","start":3410.23,"end":3410.59},{"text":"ambitious","start":3410.59,"end":3411.07},{"text":"and","start":3411.07,"end":3411.19},{"text":"decisive","start":3411.19,"end":3411.75},{"text":"action","start":3411.75,"end":3412.11},{"text":"on","start":3412.11,"end":3412.23},{"text":"debt","start":3412.23,"end":3412.55},{"text":"relief","start":3412.55,"end":3412.83},{"text":"for","start":3412.83,"end":3413.03},{"text":"LDCs","start":3413.03,"end":3413.67},{"text":"and","start":3413.99,"end":3414.27},{"text":"propose","start":3414.27,"end":3414.63},{"text":"to","start":3414.63,"end":3414.75},{"text":"suggest","start":3414.75,"end":3415.27},{"text":"appropriate","start":3415.27,"end":3415.75},{"text":"language","start":3415.75,"end":3416.31},{"text":"in","start":3416.31,"end":3416.47},{"text":"the","start":3416.47,"end":3416.55},{"text":"text.","start":3416.55,"end":3417.03}]},{"text":"We propose including a call for the establishment of a high-level commission at the United Nations to develop concrete proposals for governance reforms at international financial institutions.","start":3417.67,"end":3429.11,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"We","start":3417.67,"end":3417.83},{"text":"propose","start":3417.83,"end":3418.23},{"text":"including","start":3418.23,"end":3418.75},{"text":"a","start":3418.75,"end":3418.79},{"text":"call","start":3418.79,"end":3419.27},{"text":"for","start":3419.43,"end":3419.59},{"text":"the","start":3419.59,"end":3419.67},{"text":"establishment","start":3419.67,"end":3420.39},{"text":"of","start":3420.43,"end":3420.51},{"text":"a","start":3420.51,"end":3420.55},{"text":"high-level","start":3420.55,"end":3421.19},{"text":"commission","start":3421.19,"end":3421.67},{"text":"at","start":3421.67,"end":3421.75},{"text":"the","start":3421.75,"end":3421.87},{"text":"United","start":3421.87,"end":3422.31},{"text":"Nations","start":3422.31,"end":3422.79},{"text":"to","start":3423.03,"end":3423.11},{"text":"develop","start":3423.11,"end":3423.59},{"text":"concrete","start":3423.59,"end":3424.23},{"text":"proposals","start":3424.39,"end":3425.11},{"text":"for","start":3425.11,"end":3425.27},{"text":"governance","start":3425.27,"end":3425.75},{"text":"reforms","start":3425.75,"end":3426.87},{"text":"at","start":3426.87,"end":3427.11},{"text":"international","start":3427.11,"end":3427.83},{"text":"financial","start":3427.83,"end":3428.35},{"text":"institutions.","start":3428.35,"end":3429.11}]},{"text":"This commission should operate independently of the G20 and IFIs to ensure a fresh perspective and inclusive representation.","start":3429.75,"end":3438.83,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new 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and strengthened commitments are essential for creating a more equitable and sustainable global financial system that truly addresses the needs of 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look forward to working constructively.","start":3453.07,"end":3455.15,"topics":[],"words":[{"text":"We","start":3453.07,"end":3453.23},{"text":"look","start":3453.23,"end":3453.39},{"text":"forward","start":3453.39,"end":3453.75},{"text":"to","start":3453.75,"end":3453.87},{"text":"working","start":3453.87,"end":3454.19},{"text":"constructively.","start":3454.19,"end":3455.15}]},{"text":"Thank you once again on behalf of LDCs Chair.","start":3455.39,"end":3457.79,"topics":[],"words":[{"text":"Thank","start":3455.39,"end":3455.63},{"text":"you","start":3455.63,"end":3455.71},{"text":"once","start":3455.71,"end":3456.03},{"text":"again","start":3456.03,"end":3456.43},{"text":"on","start":3456.43,"end":3456.59},{"text":"behalf","start":3456.59,"end":3456.79},{"text":"of","start":3456.79,"end":3456.99},{"text":"LDCs","start":3456.99,"end":3457.51},{"text":"Chair.","start":3457.51,"end":3457.79}]}]}],"speaker":{"name":null,"affiliation":"BGD","affiliation_full":"Bangladesh","group":"LDCs","function":"Representative"}},{"statement_number":35,"start":3459.51,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=3460","paragraphs":[{"sentences":[{"text":"I thank the representative of Bangladesh and I now give the floor to the representative of Egypt on behalf of the Africa Group to be followed by the representative of the European 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you have the floor.","start":3470.07,"end":3471.11,"topics":[],"words":[{"text":"Egypt,","start":3470.07,"end":3470.51},{"text":"you","start":3470.51,"end":3470.59},{"text":"have","start":3470.59,"end":3470.71},{"text":"the","start":3470.71,"end":3470.83},{"text":"floor.","start":3470.83,"end":3471.11}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-Facilitator"}},{"statement_number":36,"start":3472.63,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=3473","paragraphs":[{"sentences":[{"text":"Thank you, Madam Co-facilitator.","start":3472.63,"end":3474.63,"topics":[],"words":[{"text":"Thank","start":3472.63,"end":3472.95},{"text":"you,","start":3472.95,"end":3473.15},{"text":"Madam","start":3473.19,"end":3473.47},{"text":"Co-facilitator.","start":3473.47,"end":3474.63}]},{"text":"I have the honor to deliver the statement on behalf of the African 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"In","start":3878.37,"end":3878.49},{"text":"this","start":3878.49,"end":3878.61},{"text":"paragraph,","start":3878.61,"end":3879.25},{"text":"we","start":3879.25,"end":3879.49},{"text":"also","start":3879.49,"end":3879.81},{"text":"would","start":3879.81,"end":3879.93},{"text":"suggest","start":3879.93,"end":3880.49},{"text":"to","start":3880.49,"end":3880.57},{"text":"add","start":3880.57,"end":3880.85},{"text":"that","start":3880.85,"end":3881.05},{"text":"debt","start":3881.05,"end":3881.25},{"text":"relief","start":3881.25,"end":3881.49},{"text":"initiatives","start":3881.49,"end":3882.01},{"text":"should","start":3882.01,"end":3882.21},{"text":"incorporate","start":3882.21,"end":3882.77},{"text":"mechanisms","start":3882.77,"end":3883.41},{"text":"that","start":3883.41,"end":3883.57},{"text":"prioritize","start":3883.57,"end":3884.17},{"text":"investments","start":3884.17,"end":3884.85},{"text":"in","start":3884.85,"end":3885.05},{"text":"the","start":3885.05,"end":3885.13},{"text":"SDGs,","start":3885.13,"end":3885.89},{"text":"particularly","start":3886.21,"end":3886.93},{"text":"green","start":3886.93,"end":3887.25},{"text":"and","start":3887.25,"end":3887.49},{"text":"inclusive","start":3887.81,"end":3888.61},{"text":"growth","start":3888.61,"end":3888.93},{"text":"sectors.","start":3889.09,"end":3889.73}]},{"text":"In paragraph 48A, we have the broader comment, which is that while we don't have a negative assessment as such, we reserve on this paragraph and some others that are similar or related to it.","start":3890.49,"end":3901.69,"topics":[],"words":[{"text":"In","start":3890.49,"end":3890.65},{"text":"paragraph","start":3890.65,"end":3891.21},{"text":"48A,","start":3891.37,"end":3892.25},{"text":"we","start":3892.25,"end":3892.49},{"text":"have","start":3892.49,"end":3892.81},{"text":"the","start":3892.97,"end":3893.13},{"text":"broader","start":3893.13,"end":3893.53},{"text":"comment,","start":3893.53,"end":3893.97},{"text":"which","start":3893.97,"end":3894.17},{"text":"is","start":3894.17,"end":3894.33},{"text":"that","start":3894.33,"end":3894.57},{"text":"while","start":3894.85,"end":3895.05},{"text":"we","start":3895.05,"end":3895.21},{"text":"don't","start":3895.21,"end":3895.49},{"text":"have","start":3895.49,"end":3895.61},{"text":"a","start":3895.61,"end":3895.65},{"text":"negative","start":3895.65,"end":3896.01},{"text":"assessment","start":3896.01,"end":3896.49},{"text":"as","start":3896.49,"end":3896.57},{"text":"such,","start":3896.57,"end":3896.97},{"text":"we","start":3897.37,"end":3897.61},{"text":"reserve","start":3897.61,"end":3898.01},{"text":"on","start":3898.01,"end":3898.13},{"text":"this","start":3898.13,"end":3898.33},{"text":"paragraph","start":3898.33,"end":3898.89},{"text":"and","start":3898.89,"end":3899.05},{"text":"some","start":3899.05,"end":3899.25},{"text":"others","start":3899.25,"end":3899.61},{"text":"that","start":3899.61,"end":3899.77},{"text":"are","start":3899.77,"end":3900.09},{"text":"similar","start":3900.25,"end":3900.73},{"text":"or","start":3900.73,"end":3900.93},{"text":"related","start":3900.93,"end":3901.29},{"text":"to","start":3901.29,"end":3901.45},{"text":"it.","start":3901.45,"end":3901.69}]},{"text":"support consideration for broad inclusivity of the kind of dialogue that is being proposed, so including G20, Paris Club, and all other relevant stakeholders.","start":3903.93,"end":3914.17,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Paragraph","start":4008.05,"end":4008.49},{"text":"48","start":4008.49,"end":4009.33},{"text":"lending","start":4009.33,"end":4009.69},{"text":"in","start":4009.69,"end":4009.77},{"text":"local","start":4009.77,"end":4010.09},{"text":"currency.","start":4010.09,"end":4010.61}]},{"text":"We have some questions around that and it's not always possible for public creditors.","start":4010.61,"end":4014.69,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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paragraph 49A, we definitely support the mention of DSSS, but we would caution against jumping to language on operationalization and expansion before we have an opportunity to discuss 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hope to further debate this.","start":4059.85,"end":4062.53,"topics":[],"words":[{"text":"So","start":4059.85,"end":4060.13},{"text":"hope","start":4060.77,"end":4061.01},{"text":"to","start":4061.01,"end":4061.17},{"text":"further","start":4061.41,"end":4061.81},{"text":"debate","start":4061.81,"end":4062.21},{"text":"this.","start":4062.21,"end":4062.53}]},{"text":"We have some technical edits to various paragraphs, 49B, 50, and 50A.","start":4062.85,"end":4067.57,"topics":[],"words":[{"text":"We","start":4062.85,"end":4062.93},{"text":"have","start":4062.93,"end":4063.05},{"text":"some","start":4063.05,"end":4063.17},{"text":"technical","start":4063.17,"end":4063.73},{"text":"edits","start":4063.73,"end":4064.05},{"text":"to","start":4064.05,"end":4064.37},{"text":"various","start":4064.45,"end":4064.85},{"text":"paragraphs,","start":4064.85,"end":4065.41},{"text":"49B,","start":4065.41,"end":4066.29},{"text":"50,","start":4066.29,"end":4066.73},{"text":"and","start":4066.73,"end":4066.89},{"text":"50A.","start":4066.89,"end":4067.57}]},{"text":"And 50B would ask for clarification of terminology.","start":4068.25,"end":4072.85,"topics":[],"words":[{"text":"And","start":4068.25,"end":4068.37},{"text":"50B","start":4068.37,"end":4069.89},{"text":"would","start":4069.89,"end":4070.13},{"text":"ask","start":4070.13,"end":4070.49},{"text":"for","start":4070.49,"end":4070.61},{"text":"clarification","start":4070.61,"end":4071.49},{"text":"of","start":4071.53,"end":4071.81},{"text":"terminology.","start":4071.89,"end":4072.85}]},{"text":"And 50C on collective action clauses, we're not convinced by the value added of the proposal there and would seek an assessment by experts to support discussions.","start":4073.25,"end":4086.21,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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no further inscriptions will be accepted.","start":4163.04,"end":4166.06,"topics":[],"words":[{"text":"So","start":4163.04,"end":4163.47},{"text":"no","start":4163.47,"end":4163.9},{"text":"further","start":4163.9,"end":4164.33},{"text":"inscriptions","start":4164.33,"end":4164.77},{"text":"will","start":4164.77,"end":4165.2},{"text":"be","start":4165.2,"end":4165.63},{"text":"accepted.","start":4165.63,"end":4166.06}]},{"text":"We have 33 more speakers to listen to before 1:00.","start":4166.06,"end":4170.34,"topics":[],"words":[{"text":"We","start":4166.06,"end":4166.49},{"text":"have","start":4166.49,"end":4166.92},{"text":"33","start":4166.92,"end":4167.35},{"text":"more","start":4167.35,"end":4167.78},{"text":"speakers","start":4167.78,"end":4168.21},{"text":"to","start":4168.21,"end":4168.64},{"text":"listen","start":4168.64,"end":4169.07},{"text":"to","start":4169.07,"end":4169.5},{"text":"before","start":4169.5,"end":4169.93},{"text":"1:00.","start":4169.93,"end":4170.34}]},{"text":"So, Palau, you have the floor on behalf of AOSIS, to be followed by Saudi 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"It","start":4221.45,"end":4221.53},{"text":"is","start":4221.53,"end":4221.69},{"text":"easy","start":4221.69,"end":4221.93},{"text":"to","start":4221.93,"end":4222.01},{"text":"push","start":4222.01,"end":4222.33},{"text":"the","start":4222.33,"end":4222.41},{"text":"narrative","start":4222.41,"end":4223.05},{"text":"that","start":4223.05,"end":4223.21},{"text":"incurring","start":4223.21,"end":4223.69},{"text":"debt","start":4223.69,"end":4224.01},{"text":"is","start":4224.01,"end":4224.17},{"text":"a","start":4224.17,"end":4224.25},{"text":"policy","start":4224.25,"end":4224.69},{"text":"decision","start":4224.69,"end":4225.21},{"text":"undertaken","start":4225.21,"end":4225.77},{"text":"by","start":4225.77,"end":4225.89},{"text":"governments.","start":4225.89,"end":4226.65}]},{"text":"But for SIDS, the debt burdens we face are often the result of external actions, decisions, events, and practices beyond our control.","start":4227.21,"end":4235.45,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"Many","start":4246.97,"end":4247.37},{"text":"of","start":4247.37,"end":4247.49},{"text":"our","start":4247.49,"end":4247.61},{"text":"debts","start":4247.61,"end":4248.01},{"text":"have","start":4248.01,"end":4248.25},{"text":"continued","start":4248.25,"end":4248.81},{"text":"to","start":4248.81,"end":4248.93},{"text":"rise,","start":4248.93,"end":4249.53},{"text":"due","start":4250.25,"end":4250.57},{"text":"to","start":4250.57,"end":4250.69},{"text":"global","start":4250.69,"end":4251.13},{"text":"economic","start":4251.13,"end":4251.61},{"text":"shocks,","start":4251.61,"end":4252.33},{"text":"volatile","start":4252.69,"end":4253.21},{"text":"commodity","start":4253.21,"end":4253.69},{"text":"prices,","start":4253.69,"end":4254.49},{"text":"and","start":4254.65,"end":4254.89},{"text":"more","start":4254.89,"end":4255.05},{"text":"critically,","start":4255.05,"end":4255.77},{"text":"the","start":4256.17,"end":4256.37},{"text":"actions","start":4256.37,"end":4256.81},{"text":"of","start":4256.81,"end":4256.97},{"text":"others","start":4256.97,"end":4257.37},{"text":"that","start":4257.37,"end":4257.49},{"text":"have","start":4257.49,"end":4257.61},{"text":"directly","start":4257.61,"end":4258.09},{"text":"contributed","start":4258.09,"end":4258.89},{"text":"to","start":4258.89,"end":4258.97},{"text":"the","start":4258.97,"end":4259.05},{"text":"vulnerabilities","start":4259.05,"end":4260.17},{"text":"of","start":4260.17,"end":4260.25},{"text":"SIDS.","start":4260.25,"end":4260.81}]},{"text":"The devastating impacts of climate change, rising sea levels, and exogenous shocks creates a vicious debt cycle that makes it exceedingly difficult for SIDS to invest in long-term resilience, poverty reduction, or sustainable development.","start":4261.73,"end":4277.13,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"The","start":4261.73,"end":4261.81},{"text":"devastating","start":4261.81,"end":4262.41},{"text":"impacts","start":4262.41,"end":4262.85},{"text":"of","start":4262.85,"end":4262.97},{"text":"climate","start":4262.97,"end":4263.29},{"text":"change,","start":4263.29,"end":4263.69},{"text":"rising","start":4263.69,"end":4264.09},{"text":"sea","start":4264.09,"end":4264.25},{"text":"levels,","start":4264.25,"end":4264.89},{"text":"and","start":4265.21,"end":4265.41},{"text":"exogenous","start":4265.41,"end":4265.97},{"text":"shocks","start":4265.97,"end":4266.41},{"text":"creates","start":4266.41,"end":4266.89},{"text":"a","start":4266.97,"end":4267.01},{"text":"vicious","start":4267.01,"end":4267.61},{"text":"debt","start":4267.61,"end":4267.93},{"text":"cycle","start":4267.93,"end":4268.41},{"text":"that","start":4268.97,"end":4269.29},{"text":"makes","start":4269.29,"end":4269.69},{"text":"it","start":4269.69,"end":4270.01},{"text":"exceedingly","start":4270.41,"end":4271.05},{"text":"difficult","start":4271.05,"end":4271.61},{"text":"for","start":4271.61,"end":4271.77},{"text":"SIDS","start":4271.77,"end":4272.09},{"text":"to","start":4272.09,"end":4272.21},{"text":"invest","start":4272.21,"end":4272.73},{"text":"in","start":4272.73,"end":4272.89},{"text":"long-term","start":4272.89,"end":4273.45},{"text":"resilience,","start":4273.45,"end":4274.25},{"text":"poverty","start":4274.49,"end":4274.93},{"text":"reduction,","start":4274.93,"end":4275.61},{"text":"or","start":4275.61,"end":4275.85},{"text":"sustainable","start":4275.85,"end":4276.57},{"text":"development.","start":4276.57,"end":4277.13}]},{"text":"It also exacerbates the vulnerability of SIDS to future shocks as they are increasingly trapped in a system of debt and dependence, unable to fully realize their developmental potential.","start":4278.09,"end":4289.17,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"It","start":4278.09,"end":4278.21},{"text":"also","start":4278.21,"end":4278.53},{"text":"exacerbates","start":4278.53,"end":4279.29},{"text":"the","start":4279.29,"end":4279.41},{"text":"vulnerability","start":4279.41,"end":4280.17},{"text":"of","start":4280.17,"end":4280.29},{"text":"SIDS","start":4280.29,"end":4280.61},{"text":"to","start":4280.61,"end":4280.73},{"text":"future","start":4280.73,"end":4281.17},{"text":"shocks","start":4281.17,"end":4281.65},{"text":"as","start":4282.21,"end":4282.33},{"text":"they","start":4282.33,"end":4282.41},{"text":"are","start":4282.41,"end":4282.53},{"text":"increasingly","start":4282.53,"end":4283.09},{"text":"trapped","start":4283.09,"end":4283.45},{"text":"in","start":4283.45,"end":4283.61},{"text":"a","start":4283.61,"end":4283.65},{"text":"system","start":4283.65,"end":4284.09},{"text":"of","start":4284.09,"end":4284.21},{"text":"debt","start":4284.21,"end":4284.69},{"text":"and","start":4284.69,"end":4284.81},{"text":"dependence,","start":4284.81,"end":4285.65},{"text":"unable","start":4286.21,"end":4286.69},{"text":"to","start":4286.69,"end":4286.77},{"text":"fully","start":4286.77,"end":4287.13},{"text":"realize","start":4287.13,"end":4287.65},{"text":"their","start":4287.65,"end":4287.77},{"text":"developmental","start":4287.77,"end":4288.57},{"text":"potential.","start":4288.57,"end":4289.17}]},{"text":"For this reason, EOSIS's approach is anchored in our conviction that we cannot afford to allow these challenges to remain unaddressed.","start":4290.45,"end":4299.41,"topics":[],"words":[{"text":"For","start":4290.45,"end":4290.61},{"text":"this","start":4290.61,"end":4290.85},{"text":"reason,","start":4290.85,"end":4291.25},{"text":"EOSIS's","start":4291.25,"end":4292.29},{"text":"approach","start":4292.29,"end":4293.17},{"text":"is","start":4293.17,"end":4293.33},{"text":"anchored","start":4293.33,"end":4293.77},{"text":"in","start":4293.77,"end":4293.89},{"text":"our","start":4293.89,"end":4293.97},{"text":"conviction","start":4293.97,"end":4294.77},{"text":"that","start":4294.85,"end":4295.05},{"text":"we","start":4295.05,"end":4295.17},{"text":"cannot","start":4295.17,"end":4295.57},{"text":"afford","start":4295.57,"end":4295.97},{"text":"to","start":4295.97,"end":4296.13},{"text":"allow","start":4296.21,"end":4296.69},{"text":"these","start":4296.69,"end":4296.85},{"text":"challenges","start":4296.85,"end":4297.57},{"text":"to","start":4297.57,"end":4297.69},{"text":"remain","start":4297.69,"end":4298.21},{"text":"unaddressed.","start":4298.69,"end":4299.41}]},{"text":"On this point, our group will propose language that illustrates the impact of disasters and climate change in pushing debt to unsustainable levels, especially in LDCs and SIDS in paragraph 47.","start":4300.25,"end":4312.13,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"On","start":4300.25,"end":4300.37},{"text":"this","start":4300.37,"end":4300.53},{"text":"point,","start":4300.53,"end":4300.93},{"text":"our","start":4300.93,"end":4301.01},{"text":"group","start":4301.01,"end":4301.25},{"text":"will","start":4301.25,"end":4301.37},{"text":"propose","start":4301.37,"end":4301.81},{"text":"language","start":4301.81,"end":4302.37},{"text":"that","start":4302.37,"end":4302.53},{"text":"illustrates","start":4302.53,"end":4303.17},{"text":"the","start":4303.17,"end":4303.25},{"text":"impact","start":4303.25,"end":4303.69},{"text":"of","start":4303.69,"end":4303.81},{"text":"disasters","start":4303.81,"end":4304.69},{"text":"and","start":4304.69,"end":4304.93},{"text":"climate","start":4304.93,"end":4305.29},{"text":"change","start":4305.29,"end":4305.73},{"text":"in","start":4306.05,"end":4306.21},{"text":"pushing","start":4306.21,"end":4306.61},{"text":"debt","start":4306.61,"end":4306.89},{"text":"to","start":4306.89,"end":4307.01},{"text":"unsustainable","start":4307.01,"end":4307.77},{"text":"levels,","start":4307.77,"end":4308.45},{"text":"especially","start":4308.85,"end":4309.45},{"text":"in","start":4309.45,"end":4309.57},{"text":"LDCs","start":4309.57,"end":4310.17},{"text":"and","start":4310.17,"end":4310.37},{"text":"SIDS","start":4310.37,"end":4310.77},{"text":"in","start":4310.77,"end":4310.93},{"text":"paragraph","start":4310.93,"end":4311.45},{"text":"47.","start":4311.45,"end":4312.13}]},{"text":"We would present language on the need for innovative debt instruments that allow developing countries to reduce debt distress, build resilience, free fiscal space for investments, and foster stronger partnerships between creditor and debtor countries.","start":4312.93,"end":4327.49,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":4312.93,"end":4313.01},{"text":"would","start":4313.01,"end":4313.17},{"text":"present","start":4313.17,"end":4313.57},{"text":"language","start":4313.57,"end":4314.05},{"text":"on","start":4314.05,"end":4314.29},{"text":"the","start":4314.29,"end":4314.37},{"text":"need","start":4314.37,"end":4314.69},{"text":"for","start":4314.69,"end":4314.85},{"text":"innovative","start":4314.85,"end":4315.33},{"text":"debt","start":4315.33,"end":4315.57},{"text":"instruments","start":4315.57,"end":4316.45},{"text":"that","start":4316.45,"end":4316.61},{"text":"allow","start":4316.61,"end":4316.93},{"text":"developing","start":4316.93,"end":4317.49},{"text":"countries","start":4317.49,"end":4317.97},{"text":"to","start":4317.97,"end":4318.09},{"text":"reduce","start":4318.09,"end":4318.61},{"text":"debt","start":4318.61,"end":4318.85},{"text":"distress,","start":4318.85,"end":4319.57},{"text":"build","start":4319.97,"end":4320.29},{"text":"resilience,","start":4320.29,"end":4321.09},{"text":"free","start":4321.09,"end":4321.41},{"text":"fiscal","start":4321.41,"end":4321.89},{"text":"space","start":4321.89,"end":4322.29},{"text":"for","start":4322.29,"end":4322.49},{"text":"investments,","start":4322.49,"end":4323.33},{"text":"and","start":4323.77,"end":4323.89},{"text":"foster","start":4323.89,"end":4324.37},{"text":"stronger","start":4324.37,"end":4324.85},{"text":"partnerships","start":4324.85,"end":4325.49},{"text":"between","start":4325.49,"end":4325.81},{"text":"creditor","start":4325.81,"end":4326.45},{"text":"and","start":4326.45,"end":4326.65},{"text":"debtor","start":4326.65,"end":4326.93},{"text":"countries.","start":4326.93,"end":4327.49}]},{"text":"On paragraph 48, EOSIS looks favourably at the request to the Secretary-General to create a working group.","start":4328.65,"end":4335.29,"topics":[],"words":[{"text":"On","start":4328.65,"end":4328.81},{"text":"paragraph","start":4328.81,"end":4329.33},{"text":"48,","start":4329.33,"end":4329.65},{"text":"EOSIS","start":4329.65,"end":4330.57},{"text":"looks","start":4330.57,"end":4330.89},{"text":"favourably","start":4330.89,"end":4331.49},{"text":"at","start":4331.49,"end":4331.69},{"text":"the","start":4331.69,"end":4331.77},{"text":"request","start":4331.77,"end":4332.37},{"text":"to","start":4332.37,"end":4332.49},{"text":"the","start":4332.49,"end":4332.61},{"text":"Secretary-General","start":4332.61,"end":4333.61},{"text":"to","start":4333.93,"end":4334.09},{"text":"create","start":4334.09,"end":4334.49},{"text":"a","start":4334.49,"end":4334.53},{"text":"working","start":4334.53,"end":4334.97},{"text":"group.","start":4334.97,"end":4335.29}]},{"text":"However, we believe that such a working group should be created in consultation with Member States and build on relevant principles and guidelines.","start":4335.85,"end":4344.17,"topics":[],"words":[{"text":"However,","start":4335.85,"end":4336.29},{"text":"we","start":4336.29,"end":4336.41},{"text":"believe","start":4336.41,"end":4336.77},{"text":"that","start":4336.77,"end":4336.89},{"text":"such","start":4336.89,"end":4337.21},{"text":"a","start":4337.21,"end":4337.25},{"text":"working","start":4337.25,"end":4337.61},{"text":"group","start":4337.61,"end":4337.85},{"text":"should","start":4337.85,"end":4338.09},{"text":"be","start":4338.09,"end":4338.17},{"text":"created","start":4338.17,"end":4338.65},{"text":"in","start":4338.65,"end":4338.81},{"text":"consultation","start":4338.81,"end":4339.61},{"text":"with","start":4339.61,"end":4339.81},{"text":"Member","start":4340.01,"end":4340.33},{"text":"States","start":4340.33,"end":4340.97},{"text":"and","start":4341.45,"end":4341.69},{"text":"build","start":4341.69,"end":4342.01},{"text":"on","start":4342.01,"end":4342.17},{"text":"relevant","start":4342.17,"end":4342.73},{"text":"principles","start":4342.73,"end":4343.37},{"text":"and","start":4343.37,"end":4343.57},{"text":"guidelines.","start":4343.57,"end":4344.17}]},{"text":"Further, the principles developed by the working group should also be submitted to the General Assembly for its consideration and appropriate action.","start":4344.41,"end":4353.45,"topics":[],"words":[{"text":"Further,","start":4344.41,"end":4344.97},{"text":"the","start":4345.45,"end":4345.57},{"text":"principles","start":4345.61,"end":4346.21},{"text":"developed","start":4346.21,"end":4346.65},{"text":"by","start":4346.65,"end":4346.89},{"text":"the","start":4346.89,"end":4347.01},{"text":"working","start":4347.01,"end":4347.45},{"text":"group","start":4347.45,"end":4347.69},{"text":"should","start":4348.25,"end":4348.49},{"text":"also","start":4348.49,"end":4348.81},{"text":"be","start":4348.81,"end":4348.97},{"text":"submitted","start":4348.97,"end":4349.61},{"text":"to","start":4349.77,"end":4349.93},{"text":"the","start":4349.93,"end":4350.09},{"text":"General","start":4350.09,"end":4350.49},{"text":"Assembly","start":4350.49,"end":4351.05},{"text":"for","start":4351.05,"end":4351.25},{"text":"its","start":4351.25,"end":4351.37},{"text":"consideration","start":4351.37,"end":4352.25},{"text":"and","start":4352.29,"end":4352.41},{"text":"appropriate","start":4352.41,"end":4353.05},{"text":"action.","start":4353.05,"end":4353.45}]},{"text":"EOSIS also welcomes paragraph 48d, I will make some proposals to strengthen the language further, as these tools should be tailored rather than standardized across all lending, including climate resilient debt clauses.","start":4354.41,"end":4369.37,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"EOSIS","start":4354.41,"end":4355.13},{"text":"also","start":4355.13,"end":4355.45},{"text":"welcomes","start":4355.45,"end":4355.89},{"text":"paragraph","start":4355.93,"end":4356.45},{"text":"48d,","start":4356.45,"end":4357.37},{"text":"I","start":4357.93,"end":4357.97},{"text":"will","start":4357.97,"end":4358.09},{"text":"make","start":4358.09,"end":4358.33},{"text":"some","start":4358.33,"end":4358.53},{"text":"proposals","start":4358.53,"end":4359.09},{"text":"to","start":4359.09,"end":4359.17},{"text":"strengthen","start":4359.17,"end":4359.69},{"text":"the","start":4359.69,"end":4359.77},{"text":"language","start":4359.77,"end":4360.25},{"text":"further,","start":4360.25,"end":4360.73},{"text":"as","start":4360.89,"end":4361.13},{"text":"these","start":4361.13,"end":4361.45},{"text":"tools","start":4361.45,"end":4361.93},{"text":"should","start":4361.93,"end":4362.13},{"text":"be","start":4362.13,"end":4362.33},{"text":"tailored","start":4362.57,"end":4363.21},{"text":"rather","start":4363.61,"end":4364.01},{"text":"than","start":4364.01,"end":4364.25},{"text":"standardized","start":4364.25,"end":4365.13},{"text":"across","start":4365.61,"end":4366.01},{"text":"all","start":4366.09,"end":4366.37},{"text":"lending,","start":4366.37,"end":4366.89},{"text":"including","start":4366.97,"end":4367.57},{"text":"climate","start":4367.57,"end":4367.93},{"text":"resilient","start":4367.93,"end":4368.53},{"text":"debt","start":4368.53,"end":4368.65},{"text":"clauses.","start":4368.65,"end":4369.37}]},{"text":"These clauses should ensure debt service suspensions and reductions in times of crises, disasters, and shocks, especially when lending to developing countries vulnerable to natural hazards and the impacts of climate change.","start":4370.17,"end":4384.09,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"These","start":4370.17,"end":4370.49},{"text":"clauses","start":4370.49,"end":4371.13},{"text":"should","start":4371.13,"end":4371.53},{"text":"ensure","start":4371.53,"end":4371.93},{"text":"debt","start":4371.93,"end":4372.09},{"text":"service","start":4372.09,"end":4372.45},{"text":"suspensions","start":4372.45,"end":4373.45},{"text":"and","start":4373.81,"end":4373.93},{"text":"reductions","start":4373.93,"end":4374.57},{"text":"in","start":4374.57,"end":4374.73},{"text":"times","start":4374.73,"end":4375.05},{"text":"of","start":4375.05,"end":4375.13},{"text":"crises,","start":4375.13,"end":4375.77},{"text":"disasters,","start":4375.77,"end":4376.57},{"text":"and","start":4376.57,"end":4376.89},{"text":"shocks,","start":4376.89,"end":4377.45},{"text":"especially","start":4377.85,"end":4378.45},{"text":"when","start":4378.45,"end":4378.65},{"text":"lending","start":4378.65,"end":4379.01},{"text":"to","start":4379.01,"end":4379.09},{"text":"developing","start":4379.09,"end":4379.61},{"text":"countries","start":4379.61,"end":4380.17},{"text":"vulnerable","start":4380.17,"end":4380.81},{"text":"to","start":4380.81,"end":4380.93},{"text":"natural","start":4380.93,"end":4381.33},{"text":"hazards","start":4381.33,"end":4382.01},{"text":"and","start":4382.33,"end":4382.45},{"text":"the","start":4382.45,"end":4382.53},{"text":"impacts","start":4382.53,"end":4383.13},{"text":"of","start":4383.13,"end":4383.29},{"text":"climate","start":4383.29,"end":4383.65},{"text":"change.","start":4383.65,"end":4384.09}]},{"text":"On paragraph 49a, EOSIS welcomes the call for the operationalization of the DSSS.","start":4385.29,"end":4390.53,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"On","start":4385.29,"end":4385.37},{"text":"paragraph","start":4385.41,"end":4385.93},{"text":"49a,","start":4385.93,"end":4386.49},{"text":"EOSIS","start":4386.49,"end":4387.25},{"text":"welcomes","start":4387.25,"end":4387.69},{"text":"the","start":4387.69,"end":4387.81},{"text":"call","start":4387.81,"end":4388.09},{"text":"for","start":4388.09,"end":4388.21},{"text":"the","start":4388.21,"end":4388.29},{"text":"operationalization","start":4388.29,"end":4389.29},{"text":"of","start":4389.29,"end":4389.41},{"text":"the","start":4389.41,"end":4389.49},{"text":"DSSS.","start":4389.49,"end":4390.53}]},{"text":"To strengthen the proposal, we will suggest a standalone paragraph on the DSSS, bringing the language closer to that contained in the Antigua and Barbuda agenda for SIDS, and we remain open to considering the expansion of its eligibility to cover other developing countries, including the LDCs.","start":4390.93,"end":4409.97,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"To","start":4390.93,"end":4391.05},{"text":"strengthen","start":4391.09,"end":4391.57},{"text":"the","start":4391.57,"end":4391.65},{"text":"proposal,","start":4391.65,"end":4392.33},{"text":"we","start":4392.33,"end":4392.45},{"text":"will","start":4392.45,"end":4392.61},{"text":"suggest","start":4392.61,"end":4393.13},{"text":"a","start":4393.13,"end":4393.17},{"text":"standalone","start":4393.17,"end":4393.89},{"text":"paragraph","start":4393.89,"end":4394.61},{"text":"on","start":4394.61,"end":4394.81},{"text":"the","start":4394.81,"end":4394.89},{"text":"DSSS,","start":4394.89,"end":4395.81},{"text":"bringing","start":4396.13,"end":4396.53},{"text":"the","start":4396.53,"end":4396.61},{"text":"language","start":4396.61,"end":4397.09},{"text":"closer","start":4397.09,"end":4397.49},{"text":"to","start":4397.49,"end":4397.61},{"text":"that","start":4397.61,"end":4397.97},{"text":"contained","start":4397.97,"end":4398.53},{"text":"in","start":4398.53,"end":4398.85},{"text":"the","start":4398.85,"end":4398.97},{"text":"Antigua","start":4398.97,"end":4399.49},{"text":"and","start":4399.53,"end":4399.65},{"text":"Barbuda","start":4399.65,"end":4400.29},{"text":"agenda","start":4400.29,"end":4400.69},{"text":"for","start":4400.69,"end":4400.85},{"text":"SIDS,","start":4400.85,"end":4401.41},{"text":"and","start":4401.81,"end":4402.01},{"text":"we","start":4402.01,"end":4402.37},{"text":"remain","start":4402.37,"end":4402.85},{"text":"open","start":4402.85,"end":4403.29},{"text":"to","start":4403.29,"end":4403.37},{"text":"considering","start":4403.37,"end":4404.05},{"text":"the","start":4404.05,"end":4404.17},{"text":"expansion","start":4404.17,"end":4404.77},{"text":"of","start":4404.77,"end":4405.01},{"text":"its","start":4405.01,"end":4405.17},{"text":"eligibility","start":4405.17,"end":4406.05},{"text":"to","start":4406.25,"end":4406.33},{"text":"cover","start":4406.37,"end":4406.85},{"text":"other","start":4406.85,"end":4407.13},{"text":"developing","start":4407.13,"end":4407.65},{"text":"countries,","start":4407.65,"end":4408.21},{"text":"including","start":4408.21,"end":4409.01},{"text":"the","start":4409.01,"end":4409.13},{"text":"LDCs.","start":4409.17,"end":4409.97}]},{"text":"Further on paragraph b, it is our understanding that the language regarding an institutional home is in relation to the DSSS and would present a minor edit to make this significantly clearer.","start":4410.97,"end":4422.29,"topics":[],"words":[{"text":"Further","start":4410.97,"end":4411.25},{"text":"on","start":4411.25,"end":4411.37},{"text":"paragraph","start":4411.37,"end":4411.89},{"text":"b,","start":4411.89,"end":4412.37},{"text":"it","start":4412.37,"end":4412.57},{"text":"is","start":4412.57,"end":4412.69},{"text":"our","start":4412.69,"end":4412.81},{"text":"understanding","start":4412.81,"end":4413.41},{"text":"that","start":4413.41,"end":4413.53},{"text":"the","start":4413.53,"end":4413.61},{"text":"language","start":4413.61,"end":4414.05},{"text":"regarding","start":4414.05,"end":4414.49},{"text":"an","start":4414.49,"end":4414.61},{"text":"institutional","start":4414.61,"end":4415.33},{"text":"home","start":4415.33,"end":4415.81},{"text":"is","start":4416.37,"end":4416.53},{"text":"in","start":4416.53,"end":4416.69},{"text":"relation","start":4416.69,"end":4417.17},{"text":"to","start":4417.17,"end":4417.33},{"text":"the","start":4417.33,"end":4417.41},{"text":"DSSS","start":4417.41,"end":4418.37},{"text":"and","start":4418.37,"end":4418.53},{"text":"would","start":4418.53,"end":4418.69},{"text":"present","start":4418.69,"end":4419.21},{"text":"a","start":4419.21,"end":4419.25},{"text":"minor","start":4419.25,"end":4419.73},{"text":"edit","start":4419.73,"end":4420.25},{"text":"to","start":4420.25,"end":4420.33},{"text":"make","start":4420.33,"end":4420.61},{"text":"this","start":4420.61,"end":4421.05},{"text":"significantly","start":4421.05,"end":4421.81},{"text":"clearer.","start":4421.81,"end":4422.29}]},{"text":"On paragraph 50, EOSIS sees value in the common framework, but a stronger call, as echoed by many countries today, should be made on the G20 to expand debt treatments to highly indebted countries including SIDS, which are currently ineligible.","start":4423.53,"end":4438.37,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":4423.53,"end":4423.65},{"text":"paragraph","start":4423.65,"end":4424.17},{"text":"50,","start":4424.17,"end":4424.57},{"text":"EOSIS","start":4424.57,"end":4425.37},{"text":"sees","start":4425.37,"end":4425.49},{"text":"value","start":4425.49,"end":4425.77},{"text":"in","start":4425.77,"end":4425.85},{"text":"the","start":4425.85,"end":4425.93},{"text":"common","start":4425.93,"end":4426.21},{"text":"framework,","start":4426.21,"end":4426.77},{"text":"but","start":4426.85,"end":4427.01},{"text":"a","start":4427.01,"end":4427.09},{"text":"stronger","start":4427.09,"end":4427.49},{"text":"call,","start":4427.49,"end":4427.97},{"text":"as","start":4428.29,"end":4428.45},{"text":"echoed","start":4428.45,"end":4428.69},{"text":"by","start":4428.69,"end":4428.85},{"text":"many","start":4428.85,"end":4429.17},{"text":"countries","start":4429.17,"end":4429.65},{"text":"today,","start":4429.65,"end":4429.97},{"text":"should","start":4429.97,"end":4430.29},{"text":"be","start":4430.29,"end":4430.45},{"text":"made","start":4430.45,"end":4430.69},{"text":"on","start":4430.69,"end":4431.01},{"text":"the","start":4431.01,"end":4431.09},{"text":"G20","start":4431.09,"end":4431.81},{"text":"to","start":4432.13,"end":4432.25},{"text":"expand","start":4432.25,"end":4433.05},{"text":"debt","start":4433.05,"end":4433.21},{"text":"treatments","start":4433.21,"end":4433.81},{"text":"to","start":4433.81,"end":4433.89},{"text":"highly","start":4433.89,"end":4434.25},{"text":"indebted","start":4434.25,"end":4434.69},{"text":"countries","start":4434.69,"end":4435.17},{"text":"including","start":4435.17,"end":4435.73},{"text":"SIDS,","start":4435.73,"end":4436.21},{"text":"which","start":4436.65,"end":4436.93},{"text":"are","start":4436.93,"end":4437.01},{"text":"currently","start":4437.01,"end":4437.57},{"text":"ineligible.","start":4437.57,"end":4438.37}]},{"text":"IOSIS will also introduce two additional paragraphs on increasing access to concessional finance and grants by integrating vulnerability and climate and nature risk into eligibility criteria, as well as in efforts to enhance debt sustainability and strengthen debt restructuring mechanisms.","start":4439.65,"end":4457.93,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."},{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"IOSIS","start":4439.65,"end":4440.33},{"text":"will","start":4440.33,"end":4440.45},{"text":"also","start":4440.45,"end":4440.61},{"text":"introduce","start":4440.61,"end":4441.05},{"text":"two","start":4441.05,"end":4441.33},{"text":"additional","start":4441.33,"end":4441.77},{"text":"paragraphs","start":4441.77,"end":4442.57},{"text":"on","start":4442.57,"end":4442.81},{"text":"increasing","start":4442.81,"end":4443.45},{"text":"access","start":4443.45,"end":4443.85},{"text":"to","start":4443.85,"end":4443.93},{"text":"concessional","start":4443.93,"end":4444.53},{"text":"finance","start":4444.53,"end":4445.21},{"text":"and","start":4445.21,"end":4445.45},{"text":"grants","start":4445.45,"end":4446.01},{"text":"by","start":4446.41,"end":4446.57},{"text":"integrating","start":4446.57,"end":4447.21},{"text":"vulnerability","start":4447.21,"end":4448.05},{"text":"and","start":4448.05,"end":4448.25},{"text":"climate","start":4448.25,"end":4448.73},{"text":"and","start":4448.73,"end":4448.93},{"text":"nature","start":4448.93,"end":4449.25},{"text":"risk","start":4449.25,"end":4449.61},{"text":"into","start":4449.61,"end":4449.89},{"text":"eligibility","start":4449.89,"end":4450.65},{"text":"criteria,","start":4450.65,"end":4451.45},{"text":"as","start":4452.01,"end":4452.17},{"text":"well","start":4452.17,"end":4452.49},{"text":"as","start":4452.49,"end":4452.73},{"text":"in","start":4452.89,"end":4453.13},{"text":"efforts","start":4453.13,"end":4453.49},{"text":"to","start":4453.49,"end":4453.57},{"text":"enhance","start":4453.57,"end":4454.09},{"text":"debt","start":4454.09,"end":4454.25},{"text":"sustainability","start":4454.25,"end":4455.37},{"text":"and","start":4455.69,"end":4455.89},{"text":"strengthen","start":4455.89,"end":4456.33},{"text":"debt","start":4456.33,"end":4456.57},{"text":"restructuring","start":4456.57,"end":4457.21},{"text":"mechanisms.","start":4457.21,"end":4457.93}]},{"text":"On paragraph 50E, IOSIS welcomes the proposal regarding the initiation of an intergovernmental process to deliberately address debt sustainability.","start":4459.29,"end":4469.69,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":4459.29,"end":4459.45},{"text":"paragraph","start":4459.45,"end":4459.97},{"text":"50E,","start":4459.97,"end":4460.57},{"text":"IOSIS","start":4460.57,"end":4461.29},{"text":"welcomes","start":4461.29,"end":4461.73},{"text":"the","start":4461.73,"end":4461.85},{"text":"proposal","start":4461.85,"end":4462.41},{"text":"regarding","start":4462.41,"end":4462.85},{"text":"the","start":4462.85,"end":4462.93},{"text":"initiation","start":4462.93,"end":4464.49},{"text":"of","start":4464.49,"end":4464.81},{"text":"an","start":4464.81,"end":4464.97},{"text":"intergovernmental","start":4464.97,"end":4465.77},{"text":"process","start":4465.77,"end":4466.41},{"text":"to","start":4466.89,"end":4466.97},{"text":"deliberately","start":4466.97,"end":4468.01},{"text":"address","start":4468.05,"end":4468.57},{"text":"debt","start":4468.57,"end":4468.73},{"text":"sustainability.","start":4468.73,"end":4469.69}]},{"text":"We believe that given its universal membership, the UN is well poised to discuss this issue in depth.","start":4470.17,"end":4475.77,"topics":[],"words":[{"text":"We","start":4470.17,"end":4470.33},{"text":"believe","start":4470.33,"end":4470.65},{"text":"that","start":4470.65,"end":4470.81},{"text":"given","start":4470.81,"end":4471.09},{"text":"its","start":4471.09,"end":4471.21},{"text":"universal","start":4471.21,"end":4471.77},{"text":"membership,","start":4471.77,"end":4472.29},{"text":"the","start":4472.33,"end":4472.45},{"text":"UN","start":4472.45,"end":4472.77},{"text":"is","start":4472.77,"end":4472.89},{"text":"well","start":4472.89,"end":4473.13},{"text":"poised","start":4473.13,"end":4473.53},{"text":"to","start":4473.53,"end":4473.65},{"text":"discuss","start":4473.65,"end":4474.05},{"text":"this","start":4474.05,"end":4474.49},{"text":"issue","start":4474.49,"end":4474.81},{"text":"in","start":4475.37,"end":4475.53},{"text":"depth.","start":4475.53,"end":4475.77}]},{"text":"However, given the urgent distress that SIDS and many other developing countries find themselves in, EOSIS is of the view that this proposal can be stronger, clearer, and more direct with a dedicated timeline.","start":4476.65,"end":4488.41,"topics":[],"words":[{"text":"However,","start":4476.65,"end":4477.21},{"text":"given","start":4477.29,"end":4477.61},{"text":"the","start":4477.61,"end":4477.69},{"text":"urgent","start":4477.69,"end":4478.05},{"text":"distress","start":4478.05,"end":4478.49},{"text":"that","start":4478.49,"end":4478.73},{"text":"SIDS","start":4478.73,"end":4479.01},{"text":"and","start":4479.01,"end":4479.13},{"text":"many","start":4479.13,"end":4479.45},{"text":"other","start":4479.45,"end":4479.69},{"text":"developing","start":4479.69,"end":4480.17},{"text":"countries","start":4480.17,"end":4480.57},{"text":"find","start":4480.57,"end":4480.81},{"text":"themselves","start":4480.81,"end":4481.29},{"text":"in,","start":4481.29,"end":4481.61},{"text":"EOSIS","start":4481.61,"end":4482.41},{"text":"is","start":4482.41,"end":4482.69},{"text":"of","start":4482.69,"end":4482.81},{"text":"the","start":4482.81,"end":4482.93},{"text":"view","start":4482.93,"end":4483.21},{"text":"that","start":4483.21,"end":4483.33},{"text":"this","start":4483.33,"end":4483.53},{"text":"proposal","start":4483.53,"end":4484.01},{"text":"can","start":4484.01,"end":4484.17},{"text":"be","start":4484.17,"end":4484.33},{"text":"stronger,","start":4484.33,"end":4484.97},{"text":"clearer,","start":4485.21,"end":4485.85},{"text":"and","start":4485.85,"end":4486.01},{"text":"more","start":4486.01,"end":4486.25},{"text":"direct","start":4486.25,"end":4486.81},{"text":"with","start":4486.81,"end":4487.09},{"text":"a","start":4487.09,"end":4487.13},{"text":"dedicated","start":4487.13,"end":4487.77},{"text":"timeline.","start":4487.77,"end":4488.41}]},{"text":"We would therefore propose initiating an intergovernmental process at the United Nations under the General Assembly in its 80th session to establish an international convention which includes a multilateral sovereign debt mechanism.","start":4489.05,"end":4503.41,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"In","start":4545.93,"end":4546.01},{"text":"closing,","start":4546.01,"end":4546.49},{"text":"we","start":4546.49,"end":4546.61},{"text":"urge","start":4546.61,"end":4546.81},{"text":"all","start":4546.81,"end":4546.97},{"text":"member","start":4546.97,"end":4547.29},{"text":"states","start":4547.29,"end":4547.61},{"text":"to","start":4547.61,"end":4547.69},{"text":"join","start":4547.69,"end":4547.97},{"text":"us","start":4547.97,"end":4548.05},{"text":"in","start":4548.05,"end":4548.25},{"text":"pursuing","start":4548.41,"end":4548.97},{"text":"comprehensive","start":4548.97,"end":4549.77},{"text":"long-term","start":4549.77,"end":4550.41},{"text":"solutions","start":4550.41,"end":4551.21},{"text":"to","start":4551.21,"end":4551.33},{"text":"debt","start":4551.33,"end":4551.57},{"text":"sustainability,","start":4551.57,"end":4552.49},{"text":"recognizing","start":4552.97,"end":4553.73},{"text":"that","start":4553.73,"end":4553.85},{"text":"debt","start":4553.85,"end":4554.17},{"text":"relief","start":4554.17,"end":4554.57},{"text":"is","start":4554.57,"end":4554.73},{"text":"not","start":4554.73,"end":4554.93},{"text":"merely","start":4554.93,"end":4555.25},{"text":"an","start":4555.25,"end":4555.37},{"text":"economic","start":4555.37,"end":4556.01},{"text":"issue,","start":4556.01,"end":4556.49},{"text":"it","start":4556.97,"end":4557.13},{"text":"is","start":4557.13,"end":4557.25},{"text":"a","start":4557.25,"end":4557.29},{"text":"matter","start":4557.29,"end":4557.81},{"text":"of","start":4557.81,"end":4557.93},{"text":"justice","start":4557.93,"end":4558.65},{"text":"and","start":4558.73,"end":4558.89},{"text":"human","start":4558.89,"end":4559.21},{"text":"dignity.","start":4559.21,"end":4559.77}]},{"text":"SIDS have not created the circumstances that have led to our debt burdens, but we are determined to overcome these challenges with your support.","start":4560.49,"end":4567.77,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"SIDS","start":4560.49,"end":4560.89},{"text":"have","start":4560.89,"end":4561.05},{"text":"not","start":4561.05,"end":4561.21},{"text":"created","start":4561.21,"end":4561.61},{"text":"the","start":4561.61,"end":4561.69},{"text":"circumstances","start":4561.69,"end":4562.49},{"text":"that","start":4562.49,"end":4562.65},{"text":"have","start":4562.65,"end":4562.81},{"text":"led","start":4562.81,"end":4563.05},{"text":"to","start":4563.05,"end":4563.21},{"text":"our","start":4563.21,"end":4563.29},{"text":"debt","start":4563.29,"end":4563.53},{"text":"burdens,","start":4563.53,"end":4564.17},{"text":"but","start":4564.49,"end":4564.69},{"text":"we","start":4564.69,"end":4564.77},{"text":"are","start":4564.77,"end":4564.85},{"text":"determined","start":4564.85,"end":4565.41},{"text":"to","start":4565.41,"end":4565.49},{"text":"overcome","start":4565.49,"end":4565.97},{"text":"these","start":4565.97,"end":4566.17},{"text":"challenges","start":4566.17,"end":4566.97},{"text":"with","start":4566.97,"end":4567.13},{"text":"your","start":4567.13,"end":4567.29},{"text":"support.","start":4567.29,"end":4567.77}]},{"text":"Thank you, Madam Ambassador.","start":4568.21,"end":4569.21,"topics":[],"words":[{"text":"Thank","start":4568.21,"end":4568.41},{"text":"you,","start":4568.41,"end":4568.49},{"text":"Madam","start":4568.49,"end":4568.77},{"text":"Ambassador.","start":4568.77,"end":4569.21}]}]}],"speaker":{"name":null,"affiliation":"PLW","affiliation_full":"Palau","group":"AOSIS","function":"Representative"}},{"statement_number":41,"start":4570.61,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=4571","paragraphs":[{"sentences":[{"text":"I thank the representative of Palau and now give the floor to the representative of Saudi Arabia to be followed by the representative of Yemen.","start":4570.61,"end":4578.69,"topics":[],"words":[{"text":"I","start":4570.61,"end":4570.62},{"text":"thank","start":4570.61,"end":4570.89},{"text":"the","start":4570.89,"end":4570.97},{"text":"representative","start":4570.97,"end":4571.81},{"text":"of","start":4571.81,"end":4571.97},{"text":"Palau","start":4571.97,"end":4572.53},{"text":"and","start":4572.53,"end":4572.73},{"text":"now","start":4572.73,"end":4572.85},{"text":"give","start":4572.85,"end":4573.01},{"text":"the","start":4573.01,"end":4573.09},{"text":"floor","start":4573.09,"end":4573.33},{"text":"to","start":4573.33,"end":4573.49},{"text":"the","start":4573.49,"end":4573.61},{"text":"representative","start":4573.61,"end":4574.45},{"text":"of","start":4574.45,"end":4574.57},{"text":"Saudi","start":4574.57,"end":4575.01},{"text":"Arabia","start":4575.01,"end":4575.57},{"text":"to","start":4575.57,"end":4575.89},{"text":"be","start":4575.89,"end":4576.05},{"text":"followed","start":4576.05,"end":4576.53},{"text":"by","start":4576.53,"end":4576.77},{"text":"the","start":4576.77,"end":4576.89},{"text":"representative","start":4576.89,"end":4577.73},{"text":"of","start":4577.73,"end":4578.05},{"text":"Yemen.","start":4578.05,"end":4578.69}]},{"text":"Saudi Arabia, please.","start":4578.77,"end":4579.89,"topics":[],"words":[{"text":"Saudi","start":4578.77,"end":4579.05},{"text":"Arabia,","start":4579.05,"end":4579.53},{"text":"please.","start":4579.53,"end":4579.89}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-Facilitator"}},{"statement_number":42,"start":4580.93,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=4581","paragraphs":[{"sentences":[{"text":"Thank you very much, Madam co-facilitator.","start":4580.93,"end":4583.17,"topics":[],"words":[{"text":"Thank","start":4580.93,"end":4581.21},{"text":"you","start":4581.21,"end":4581.33},{"text":"very","start":4581.33,"end":4581.57},{"text":"much,","start":4581.57,"end":4581.89},{"text":"Madam","start":4581.89,"end":4582.21},{"text":"co-facilitator.","start":4582.21,"end":4583.17}]},{"text":"In paragraphs 49 and 50, the draft should focus on strengthening and streamlining existing debt treatment frameworks instead of creating new ones.","start":4584.05,"end":4594.13,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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you have the floor.","start":4705.37,"end":4706.33,"topics":[],"words":[{"text":"Yemen,","start":4705.37,"end":4705.73},{"text":"you","start":4705.73,"end":4705.81},{"text":"have","start":4705.81,"end":4705.93},{"text":"the","start":4705.93,"end":4706.05},{"text":"floor.","start":4706.05,"end":4706.33}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-Facilitator"}},{"statement_number":44,"start":4707.77,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=4708","paragraphs":[{"sentences":[{"text":"Thank you, Your Excellency.","start":4707.77,"end":4708.65,"topics":[],"words":[{"text":"Thank","start":4707.77,"end":4707.97},{"text":"you,","start":4707.97,"end":4708.05},{"text":"Your","start":4708.05,"end":4708.21},{"text":"Excellency.","start":4708.21,"end":4708.65}]}]},{"sentences":[{"text":"Yemen aligns itself with the statement delivered by the LDDC and the statement delivered by the G77 and 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stands ready to provide specific textual proposals and thank you.","start":4839.77,"end":4843.29,"topics":[],"words":[{"text":"Yemen","start":4839.77,"end":4839.97},{"text":"stands","start":4839.97,"end":4840.25},{"text":"ready","start":4840.25,"end":4840.49},{"text":"to","start":4840.49,"end":4840.57},{"text":"provide","start":4840.57,"end":4840.89},{"text":"specific","start":4840.89,"end":4841.45},{"text":"textual","start":4841.45,"end":4842.01},{"text":"proposals","start":4842.01,"end":4842.77},{"text":"and","start":4842.77,"end":4842.97},{"text":"thank","start":4842.97,"end":4843.21},{"text":"you.","start":4843.21,"end":4843.29}]}]}],"speaker":{"name":null,"affiliation":"YEM","affiliation_full":"Yemen","group":null,"function":"Representative"}},{"statement_number":45,"start":4844.97,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=4845","paragraphs":[{"sentences":[{"text":"I thank the representative of Yemen and now give the floor to the representative of Colombia to be followed by 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please.","start":4853.29,"end":4854.17,"topics":[],"words":[{"text":"Colombia,","start":4853.29,"end":4853.77},{"text":"please.","start":4853.77,"end":4854.17}]}]}],"speaker":{"name":"Merete","affiliation":"NOR","affiliation_full":"Norway","group":null,"function":"Co-Facilitator"}},{"statement_number":46,"start":4854.89,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=4855","paragraphs":[{"sentences":[{"text":"Thank you, Madam co-facilitator.","start":4854.89,"end":4857.97,"topics":[],"words":[{"text":"Thank","start":4854.89,"end":4855.01},{"text":"you,","start":4855.01,"end":4855.13},{"text":"Madam","start":4855.13,"end":4855.85},{"text":"co-facilitator.","start":4856.53,"end":4857.97}]},{"text":"Colombia would propose the inclusion of a new paragraph, 47 bis, which we will send to the secretariat, highlighting that sustainability is vital for economic growth and the achievement of the SDGs.","start":4857.97,"end":4871.09,"topics":[],"words":[{"text":"Colombia","start":4857.97,"end":4858.37},{"text":"would","start":4858.37,"end":4858.53},{"text":"propose","start":4858.53,"end":4858.89},{"text":"the","start":4858.89,"end":4858.97},{"text":"inclusion","start":4858.97,"end":4859.41},{"text":"of","start":4859.41,"end":4859.57},{"text":"a","start":4859.57,"end":4859.65},{"text":"new","start":4859.65,"end":4859.89},{"text":"paragraph,","start":4859.89,"end":4860.57},{"text":"47","start":4860.57,"end":4861.25},{"text":"bis,","start":4861.25,"end":4861.73},{"text":"which","start":4862.25,"end":4862.53},{"text":"we","start":4862.53,"end":4862.61},{"text":"will","start":4862.61,"end":4863.01},{"text":"send","start":4863.01,"end":4863.29},{"text":"to","start":4863.29,"end":4863.37},{"text":"the","start":4863.37,"end":4863.49},{"text":"secretariat,","start":4863.49,"end":4864.45},{"text":"highlighting","start":4864.77,"end":4865.13},{"text":"that","start":4865.13,"end":4865.25},{"text":"sustainability","start":4865.25,"end":4866.37},{"text":"is","start":4866.37,"end":4866.69},{"text":"vital","start":4866.93,"end":4867.33},{"text":"for","start":4867.33,"end":4867.65},{"text":"economic","start":4867.73,"end":4868.21},{"text":"growth","start":4868.21,"end":4868.69},{"text":"and","start":4868.69,"end":4869.01},{"text":"the","start":4869.01,"end":4869.13},{"text":"achievement","start":4869.17,"end":4869.69},{"text":"of","start":4869.69,"end":4869.89},{"text":"the","start":4869.89,"end":4870.01},{"text":"SDGs.","start":4870.05,"end":4871.09}]},{"text":"This paragraph will highlight the importance of transparency in debt and its effective management, recognizing that debt crises have grave economic and social ramifications, including cuts to public expenditure, which are disproportionately going to affect the most vulnerable populations.","start":4871.89,"end":4888.97,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"It's","start":5098.25,"end":5098.49},{"text":"unclear","start":5098.49,"end":5098.81},{"text":"what","start":5098.81,"end":5098.97},{"text":"a","start":5098.97,"end":5099.01},{"text":"new","start":5099.01,"end":5099.09},{"text":"UNCCAC","start":5099.09,"end":5099.97},{"text":"protocol","start":5099.97,"end":5100.41},{"text":"would","start":5100.41,"end":5100.53},{"text":"achieve,","start":5100.53,"end":5101.05},{"text":"and","start":5101.37,"end":5101.53},{"text":"we","start":5101.53,"end":5101.69},{"text":"are","start":5101.69,"end":5101.81},{"text":"against","start":5101.81,"end":5102.25},{"text":"unnecessarily","start":5102.25,"end":5103.05},{"text":"expanding","start":5103.05,"end":5103.61},{"text":"the","start":5103.61,"end":5103.73},{"text":"mandate","start":5103.73,"end":5104.09},{"text":"of","start":5104.09,"end":5104.17},{"text":"the","start":5104.17,"end":5104.25},{"text":"UNCCAC","start":5104.25,"end":5105.13},{"text":"to","start":5105.13,"end":5105.25},{"text":"place","start":5105.25,"end":5105.53},{"text":"new","start":5105.53,"end":5105.69},{"text":"burdensome","start":5105.69,"end":5106.25},{"text":"obligations","start":5106.25,"end":5106.89},{"text":"on","start":5106.89,"end":5107.05},{"text":"countries.","start":5107.05,"end":5107.61}]},{"text":"Additionally, if a working group is to be formed to discuss principles of sovereign lending and borrowing, we believe it should be convened and populated by the IMF and expert debt practitioners, including those such as the Paris Club and G20 Finance Track members, not led by the UN.","start":5108.93,"end":5124.29,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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49, it's important to caveat that this in no way should interfere with the independence of central banks and the implementation of prudent monetary policy, including interest rate increases as appropriate.","start":5125.25,"end":5136.77,"topics":[],"words":[{"text":"In","start":5125.25,"end":5125.41},{"text":"49,","start":5125.41,"end":5126.05},{"text":"it's","start":5126.05,"end":5126.29},{"text":"important","start":5126.29,"end":5126.69},{"text":"to","start":5126.69,"end":5126.77},{"text":"caveat","start":5126.77,"end":5127.33},{"text":"that","start":5127.33,"end":5127.45},{"text":"this","start":5127.45,"end":5127.69},{"text":"in","start":5127.69,"end":5127.77},{"text":"no","start":5127.77,"end":5127.97},{"text":"way","start":5127.97,"end":5128.21},{"text":"should","start":5128.21,"end":5128.37},{"text":"interfere","start":5128.37,"end":5128.93},{"text":"with","start":5128.93,"end":5129.05},{"text":"the","start":5129.05,"end":5129.13},{"text":"independence","start":5129.13,"end":5130.05},{"text":"of","start":5130.05,"end":5130.13},{"text":"central","start":5130.13,"end":5130.53},{"text":"banks","start":5130.53,"end":5131.01},{"text":"and","start":5131.25,"end":5131.45},{"text":"the","start":5131.45,"end":5131.53},{"text":"implementation","start":5131.53,"end":5132.29},{"text":"of","start":5132.29,"end":5132.37},{"text":"prudent","start":5132.37,"end":5132.77},{"text":"monetary","start":5132.77,"end":5133.33},{"text":"policy,","start":5133.33,"end":5133.89},{"text":"including","start":5134.21,"end":5134.69},{"text":"interest","start":5134.69,"end":5135.01},{"text":"rate","start":5135.01,"end":5135.21},{"text":"increases","start":5135.21,"end":5135.97},{"text":"as","start":5135.97,"end":5136.13},{"text":"appropriate.","start":5136.13,"end":5136.77}]},{"text":"We cannot accept paragraph 50.","start":5138.05,"end":5139.61,"topics":[],"words":[{"text":"We","start":5138.05,"end":5138.09},{"text":"cannot","start":5138.09,"end":5138.37},{"text":"accept","start":5138.37,"end":5138.65},{"text":"paragraph","start":5138.65,"end":5139.09},{"text":"50.","start":5139.09,"end":5139.61}]},{"text":"The purpose of debt restructurings is to restore debt sustainability, not to finance policy priorities, including the SDGs.","start":5140.17,"end":5146.81,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"The","start":5140.17,"end":5140.25},{"text":"purpose","start":5140.25,"end":5140.65},{"text":"of","start":5140.65,"end":5140.73},{"text":"debt","start":5140.73,"end":5140.97},{"text":"restructurings","start":5140.97,"end":5141.69},{"text":"is","start":5141.69,"end":5141.77},{"text":"to","start":5141.77,"end":5141.89},{"text":"restore","start":5141.89,"end":5142.33},{"text":"debt","start":5142.33,"end":5142.49},{"text":"sustainability,","start":5142.49,"end":5143.37},{"text":"not","start":5143.53,"end":5143.81},{"text":"to","start":5143.81,"end":5143.89},{"text":"finance","start":5143.89,"end":5144.33},{"text":"policy","start":5144.33,"end":5144.73},{"text":"priorities,","start":5144.73,"end":5145.53},{"text":"including","start":5145.53,"end":5145.97},{"text":"the","start":5145.97,"end":5146.05},{"text":"SDGs.","start":5146.05,"end":5146.81}]},{"text":"On 50b, a model law to augment fiscal/debt transparency could be useful, particularly if it addresses loan contracts which deliberately hide the terms and conditions of the debt.","start":5148.33,"end":5158.09,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of 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the language advocating for local legislatures to interfere in debt contract law, not only is this likely to be ineffective, but also counterproductive.","start":5159.13,"end":5167.45,"topics":[],"words":[{"text":"Regarding","start":5159.13,"end":5159.57},{"text":"the","start":5159.57,"end":5159.65},{"text":"language","start":5159.65,"end":5160.09},{"text":"advocating","start":5160.09,"end":5160.57},{"text":"for","start":5160.57,"end":5160.73},{"text":"local","start":5160.73,"end":5161.09},{"text":"legislatures","start":5161.09,"end":5161.85},{"text":"to","start":5161.85,"end":5161.93},{"text":"interfere","start":5161.93,"end":5162.41},{"text":"in","start":5162.41,"end":5162.53},{"text":"debt","start":5162.53,"end":5162.69},{"text":"contract","start":5162.69,"end":5163.21},{"text":"law,","start":5163.21,"end":5163.53},{"text":"not","start":5164.01,"end":5164.25},{"text":"only","start":5164.25,"end":5164.45},{"text":"is","start":5164.45,"end":5164.57},{"text":"this","start":5164.57,"end":5164.73},{"text":"likely","start":5164.73,"end":5165.05},{"text":"to","start":5165.05,"end":5165.13},{"text":"be","start":5165.13,"end":5165.25},{"text":"ineffective,","start":5165.25,"end":5166.01},{"text":"but","start":5166.01,"end":5166.17},{"text":"also","start":5166.17,"end":5166.49},{"text":"counterproductive.","start":5166.49,"end":5167.45}]},{"text":"Local legislation is likely to simply encourage debt to be contracted under the law of more favorable jurisdictions, and there is some evidence lenders are preparing to do this if such legislation 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50, the text should be redrafted to focus on promoting existing initiatives related to debt and appropriate fora and refrain from creating new or duplicative mechanisms.","start":5180.33,"end":5189.93,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":5180.33,"end":5180.49},{"text":"50,","start":5180.49,"end":5181.29},{"text":"the","start":5181.37,"end":5181.53},{"text":"text","start":5181.53,"end":5181.81},{"text":"should","start":5181.81,"end":5181.93},{"text":"be","start":5181.93,"end":5182.09},{"text":"redrafted","start":5182.09,"end":5182.69},{"text":"to","start":5182.69,"end":5182.77},{"text":"focus","start":5182.77,"end":5183.17},{"text":"on","start":5183.17,"end":5183.29},{"text":"promoting","start":5183.29,"end":5183.81},{"text":"existing","start":5183.81,"end":5184.29},{"text":"initiatives","start":5184.29,"end":5184.89},{"text":"related","start":5184.89,"end":5185.29},{"text":"to","start":5185.29,"end":5185.41},{"text":"debt","start":5185.41,"end":5185.73},{"text":"and","start":5185.73,"end":5185.85},{"text":"appropriate","start":5185.85,"end":5186.33},{"text":"fora","start":5186.33,"end":5186.73},{"text":"and","start":5187.13,"end":5187.37},{"text":"refrain","start":5187.37,"end":5187.69},{"text":"from","start":5187.69,"end":5187.85},{"text":"creating","start":5187.85,"end":5188.25},{"text":"new","start":5188.25,"end":5188.41},{"text":"or","start":5188.41,"end":5188.57},{"text":"duplicative","start":5188.57,"end":5189.13},{"text":"mechanisms.","start":5189.13,"end":5189.93}]},{"text":"The United States cannot accept text that calls for a UN intergovernmental process on debt or proposes a role for the UN in the global debt architecture for which it is not mandated or equipped.","start":5190.61,"end":5200.49,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"The","start":5190.61,"end":5190.65},{"text":"United","start":5190.65,"end":5190.93},{"text":"States","start":5190.93,"end":5191.21},{"text":"cannot","start":5191.21,"end":5191.53},{"text":"accept","start":5191.53,"end":5191.85},{"text":"text","start":5191.85,"end":5192.09},{"text":"that","start":5192.09,"end":5192.21},{"text":"calls","start":5192.21,"end":5192.49},{"text":"for","start":5192.49,"end":5192.65},{"text":"a","start":5192.65,"end":5192.69},{"text":"UN","start":5192.69,"end":5192.97},{"text":"intergovernmental","start":5192.97,"end":5193.77},{"text":"process","start":5193.77,"end":5194.25},{"text":"on","start":5194.25,"end":5194.41},{"text":"debt","start":5194.41,"end":5194.73},{"text":"or","start":5195.05,"end":5195.21},{"text":"proposes","start":5195.21,"end":5195.73},{"text":"a","start":5195.73,"end":5195.77},{"text":"role","start":5195.77,"end":5196.09},{"text":"for","start":5196.09,"end":5196.25},{"text":"the","start":5196.25,"end":5196.33},{"text":"UN","start":5196.33,"end":5196.73},{"text":"in","start":5196.73,"end":5196.81},{"text":"the","start":5196.81,"end":5196.89},{"text":"global","start":5196.89,"end":5197.21},{"text":"debt","start":5197.21,"end":5197.45},{"text":"architecture","start":5197.77,"end":5198.53},{"text":"for","start":5198.53,"end":5198.65},{"text":"which","start":5198.65,"end":5198.89},{"text":"it","start":5198.89,"end":5198.97},{"text":"is","start":5198.97,"end":5199.13},{"text":"not","start":5199.13,"end":5199.29},{"text":"mandated","start":5199.29,"end":5199.85},{"text":"or","start":5199.85,"end":5199.97},{"text":"equipped.","start":5199.97,"end":5200.49}]},{"text":"On 51, we call for deletion of the language on private credit ratings.","start":5201.57,"end":5205.05,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"On","start":5201.57,"end":5201.69},{"text":"51,","start":5201.69,"end":5202.33},{"text":"we","start":5202.33,"end":5202.45},{"text":"call","start":5202.45,"end":5202.65},{"text":"for","start":5202.65,"end":5202.77},{"text":"deletion","start":5202.77,"end":5203.21},{"text":"of","start":5203.21,"end":5203.29},{"text":"the","start":5203.29,"end":5203.37},{"text":"language","start":5203.37,"end":5203.77},{"text":"on","start":5203.77,"end":5203.85},{"text":"private","start":5203.85,"end":5204.25},{"text":"credit","start":5204.25,"end":5204.53},{"text":"ratings.","start":5204.53,"end":5205.05}]},{"text":"It is important that ratings be objective, independent, and based on sound analytical methods and accurate statistical measurements.","start":5205.29,"end":5211.61,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive 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you, co-chair.","start":5223.93,"end":5225.81,"topics":[],"words":[{"text":"Thank","start":5223.93,"end":5224.09},{"text":"you,","start":5224.09,"end":5224.45},{"text":"co-chair.","start":5225.01,"end":5225.81}]},{"text":"I align this intervention with that delivered by Egypt on behalf of the Africa group and wish to add the following in my national 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we thank the COFAX for their efforts, we believe that the current text on this session on this section falls short in both ambition and 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of the proposals in the zero drafts fail to reflect the scale and urgency of the crisis confronting developing 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cannot afford half measures.","start":5254.41,"end":5256.57,"topics":[],"words":[{"text":"We","start":5254.41,"end":5254.65},{"text":"cannot","start":5254.65,"end":5255.05},{"text":"afford","start":5255.05,"end":5255.61},{"text":"half","start":5255.61,"end":5255.93},{"text":"measures.","start":5255.93,"end":5256.57}]},{"text":"We must act decisively.","start":5256.81,"end":5258.57,"topics":[],"words":[{"text":"We","start":5256.81,"end":5257.05},{"text":"must","start":5257.05,"end":5257.37},{"text":"act","start":5257.37,"end":5257.69},{"text":"decisively.","start":5257.69,"end":5258.57}]},{"text":"In this regard, we support the calls by the African group for the establishment of a multilateral sovereign debt workout mechanism.","start":5258.65,"end":5267.05,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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paragraph 50e, we support the proposal of IOSCE to separate the two ideas and propose to delete the first part that makes reference to the review of the sovereign debt architecture by the IMF envisioned in the pact of the future.","start":5474.81,"end":5490.17,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Para","start":5904.37,"end":5904.73},{"text":"49A,","start":5904.73,"end":5906.13},{"text":"the","start":5907.25,"end":5907.57},{"text":"DSSS","start":5907.57,"end":5909.17},{"text":"was","start":5909.17,"end":5909.41},{"text":"originally","start":5909.41,"end":5911.01},{"text":"designed","start":5911.01,"end":5911.57},{"text":"for","start":5911.65,"end":5912.13},{"text":"SIDS","start":5912.13,"end":5913.17},{"text":"due","start":5913.57,"end":5913.81},{"text":"to","start":5913.81,"end":5913.97},{"text":"their","start":5913.97,"end":5914.29},{"text":"specific","start":5914.29,"end":5914.89},{"text":"debt","start":5914.89,"end":5915.25},{"text":"challenges","start":5915.25,"end":5915.97},{"text":"and","start":5916.21,"end":5916.45},{"text":"climate","start":5916.45,"end":5917.01},{"text":"related","start":5917.01,"end":5917.49},{"text":"vulnerabilities.","start":5917.49,"end":5918.61}]},{"text":"However, expanding DSSS to a wider group of developing countries would require careful consideration.","start":5919.09,"end":5927.89,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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significantly.","start":5928.57,"end":5934.65,"topics":[],"words":[{"text":"as","start":5928.57,"end":5928.65},{"text":"their","start":5928.65,"end":5928.89},{"text":"debt","start":5928.89,"end":5929.13},{"text":"situation","start":5929.21,"end":5930.09},{"text":"and","start":5930.09,"end":5930.29},{"text":"political","start":5930.29,"end":5931.05},{"text":"and","start":5931.13,"end":5931.53},{"text":"economic","start":5931.53,"end":5932.05},{"text":"context","start":5932.05,"end":5932.73},{"text":"vary","start":5933.05,"end":5933.45},{"text":"significantly.","start":5933.45,"end":5934.65}]},{"text":"A more tailored approach would be necessary, along with thorough discussions and broad consensus among countries.","start":5935.61,"end":5943.21,"topics":[],"words":[{"text":"A","start":5935.61,"end":5935.65},{"text":"more","start":5935.65,"end":5935.93},{"text":"tailored","start":5935.93,"end":5936.41},{"text":"approach","start":5936.41,"end":5937.05},{"text":"would","start":5937.13,"end":5937.37},{"text":"be","start":5937.37,"end":5937.53},{"text":"necessary,","start":5937.53,"end":5938.25},{"text":"along","start":5938.57,"end":5939.05},{"text":"with","start":5939.05,"end":5939.29},{"text":"thorough","start":5939.29,"end":5939.81},{"text":"discussions","start":5939.81,"end":5940.57},{"text":"and","start":5940.57,"end":5940.85},{"text":"broad","start":5940.85,"end":5941.29},{"text":"consensus","start":5941.45,"end":5942.25},{"text":"among","start":5942.33,"end":5942.57},{"text":"countries.","start":5942.57,"end":5943.21}]},{"text":"In this regard, it would be advisable to either remove this paragraph or limit the scope of expansion to countries in special situations such as LDCs, rather than applying it universally to all developing 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49b, support from IFI should be designed to strengthen debtors self-sufficiency and resilience.","start":5961.25,"end":5973.57,"topics":[],"words":[{"text":"Para","start":5961.25,"end":5961.65},{"text":"49b,","start":5961.65,"end":5963.09},{"text":"support","start":5964.93,"end":5965.65},{"text":"from","start":5965.65,"end":5966.05},{"text":"IFI","start":5966.05,"end":5967.01},{"text":"should","start":5967.01,"end":5967.29},{"text":"be","start":5967.41,"end":5967.57},{"text":"designed","start":5967.57,"end":5968.05},{"text":"to","start":5968.13,"end":5968.53},{"text":"strengthen","start":5968.53,"end":5969.41},{"text":"debtors","start":5970.77,"end":5971.13},{"text":"self-sufficiency","start":5971.13,"end":5972.45},{"text":"and","start":5972.45,"end":5972.89},{"text":"resilience.","start":5972.89,"end":5973.57}]},{"text":"Debt swap can be a useful tool for debt management and developing financing, but they also involve reducing the nominal debt 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Debt","start":5974.13,"end":5974.45},{"text":"swap","start":5974.45,"end":5974.93},{"text":"can","start":5974.93,"end":5975.17},{"text":"be","start":5975.17,"end":5975.33},{"text":"a","start":5975.33,"end":5975.41},{"text":"useful","start":5975.41,"end":5975.89},{"text":"tool","start":5975.89,"end":5976.45},{"text":"for","start":5976.77,"end":5977.09},{"text":"debt","start":5977.09,"end":5977.49},{"text":"management","start":5977.49,"end":5978.21},{"text":"and","start":5978.21,"end":5978.41},{"text":"developing","start":5978.41,"end":5978.93},{"text":"financing,","start":5978.93,"end":5979.73},{"text":"but","start":5980.21,"end":5980.53},{"text":"they","start":5980.77,"end":5980.93},{"text":"also","start":5980.93,"end":5981.33},{"text":"involve","start":5981.37,"end":5981.81},{"text":"reducing","start":5981.81,"end":5982.61},{"text":"the","start":5982.61,"end":5982.69},{"text":"nominal","start":5982.69,"end":5983.33},{"text":"debt","start":5983.33,"end":5983.65},{"text":"amount.","start":5983.65,"end":5984.21}]},{"text":"Therefore, we recommend reconsidering the language on scaling up debt swap or such as debt swaps in this para to ensure a balanced approach.","start":5984.85,"end":5995.89,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"We","start":6101.13,"end":6101.37},{"text":"reiterate","start":6101.37,"end":6101.93},{"text":"the","start":6101.93,"end":6102.05},{"text":"need","start":6102.05,"end":6102.33},{"text":"to","start":6102.33,"end":6102.45},{"text":"leverage","start":6102.45,"end":6102.89},{"text":"the","start":6102.89,"end":6103.05},{"text":"comparative","start":6103.05,"end":6103.53},{"text":"advantage","start":6103.53,"end":6104.05},{"text":"of","start":6104.05,"end":6104.17},{"text":"existing","start":6104.17,"end":6104.89},{"text":"institutions","start":6104.89,"end":6105.89},{"text":"and","start":6105.89,"end":6106.05},{"text":"avoid","start":6106.05,"end":6106.41},{"text":"costly","start":6106.41,"end":6106.81},{"text":"duplication","start":6106.81,"end":6107.69},{"text":"to","start":6107.69,"end":6107.81},{"text":"support","start":6107.81,"end":6108.17},{"text":"countries","start":6108.17,"end":6108.61},{"text":"with","start":6108.61,"end":6108.73},{"text":"debt","start":6108.73,"end":6108.97},{"text":"management","start":6108.97,"end":6109.53},{"text":"challenges.","start":6109.53,"end":6110.25}]},{"text":"As part of this approach, we encourage the emphasis of support for countries in special situations, particularly SIDS.","start":6110.97,"end":6116.81,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":6118.09,"end":6118.25},{"text":"strongly","start":6118.25,"end":6118.65},{"text":"oppose","start":6118.65,"end":6118.97},{"text":"the","start":6118.97,"end":6119.05},{"text":"language","start":6119.05,"end":6119.45},{"text":"proposed","start":6119.45,"end":6120.17},{"text":"in","start":6120.17,"end":6120.49},{"text":"paragraph","start":6120.49,"end":6120.93},{"text":"50","start":6120.93,"end":6121.37},{"text":"referring","start":6121.37,"end":6121.77},{"text":"to","start":6121.77,"end":6122.01},{"text":"all","start":6122.01,"end":6122.09},{"text":"creditors","start":6122.09,"end":6122.73},{"text":"participating","start":6122.73,"end":6123.33},{"text":"in","start":6123.33,"end":6123.41},{"text":"debt","start":6123.41,"end":6123.57},{"text":"relief.","start":6123.57,"end":6123.97}]},{"text":"We emphasize the MDB's important role in providing long-term, highly effective and responsible lending and their provision of concessional loans, which is enabled by their strong balance sheets and high credit ratings.","start":6124.81,"end":6136.97,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."},{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":6124.81,"end":6124.97},{"text":"emphasize","start":6124.97,"end":6125.53},{"text":"the","start":6125.53,"end":6125.61},{"text":"MDB's","start":6125.61,"end":6126.25},{"text":"important","start":6126.25,"end":6126.73},{"text":"role","start":6126.73,"end":6127.05},{"text":"in","start":6127.05,"end":6127.13},{"text":"providing","start":6127.13,"end":6127.61},{"text":"long-term,","start":6127.61,"end":6128.49},{"text":"highly","start":6128.49,"end":6128.97},{"text":"effective","start":6128.97,"end":6129.53},{"text":"and","start":6129.53,"end":6129.69},{"text":"responsible","start":6129.69,"end":6130.37},{"text":"lending","start":6130.37,"end":6130.89},{"text":"and","start":6131.37,"end":6131.57},{"text":"their","start":6131.57,"end":6131.69},{"text":"provision","start":6131.69,"end":6132.09},{"text":"of","start":6132.09,"end":6132.17},{"text":"concessional","start":6132.17,"end":6132.89},{"text":"loans,","start":6132.89,"end":6133.25},{"text":"which","start":6133.25,"end":6133.45},{"text":"is","start":6133.45,"end":6133.61},{"text":"enabled","start":6133.61,"end":6134.09},{"text":"by","start":6134.09,"end":6134.25},{"text":"their","start":6134.25,"end":6134.41},{"text":"strong","start":6134.41,"end":6134.81},{"text":"balance","start":6134.81,"end":6135.13},{"text":"sheets","start":6135.13,"end":6135.53},{"text":"and","start":6135.53,"end":6135.73},{"text":"high","start":6135.73,"end":6135.93},{"text":"credit","start":6135.93,"end":6136.29},{"text":"ratings.","start":6136.29,"end":6136.97}]},{"text":"MDB participation in debt relief would put this model at risk and would be to the detriment of developing countries.","start":6137.77,"end":6143.69,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"MDB","start":6137.77,"end":6138.17},{"text":"participation","start":6138.17,"end":6138.89},{"text":"in","start":6138.89,"end":6139.05},{"text":"debt","start":6139.05,"end":6139.21},{"text":"relief","start":6139.21,"end":6139.57},{"text":"would","start":6139.57,"end":6139.69},{"text":"put","start":6139.69,"end":6139.89},{"text":"this","start":6139.89,"end":6140.09},{"text":"model","start":6140.09,"end":6140.41},{"text":"at","start":6140.41,"end":6140.49},{"text":"risk","start":6140.49,"end":6140.97},{"text":"and","start":6140.97,"end":6141.25},{"text":"would","start":6141.25,"end":6141.37},{"text":"be","start":6141.37,"end":6141.53},{"text":"to","start":6141.53,"end":6141.69},{"text":"the","start":6141.69,"end":6141.81},{"text":"detriment","start":6141.81,"end":6142.33},{"text":"of","start":6142.33,"end":6142.41},{"text":"developing","start":6142.41,"end":6142.93},{"text":"countries.","start":6142.93,"end":6143.69}]},{"text":"Regarding 50, we emphasise the need to tailor the common framework to low income and vulnerable middle income countries and question the need to expand it in light of successful debt restructuring outside of the common framework.","start":6144.49,"end":6158.09,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Regarding","start":6144.49,"end":6145.05},{"text":"50,","start":6145.05,"end":6145.93},{"text":"we","start":6146.41,"end":6146.65},{"text":"emphasise","start":6146.65,"end":6147.25},{"text":"the","start":6147.25,"end":6147.33},{"text":"need","start":6147.33,"end":6147.77},{"text":"to","start":6147.77,"end":6148.05},{"text":"tailor","start":6148.05,"end":6148.33},{"text":"the","start":6148.33,"end":6148.41},{"text":"common","start":6148.41,"end":6148.73},{"text":"framework","start":6148.73,"end":6149.17},{"text":"to","start":6149.17,"end":6149.29},{"text":"low","start":6149.29,"end":6149.53},{"text":"income","start":6149.53,"end":6149.93},{"text":"and","start":6149.93,"end":6150.09},{"text":"vulnerable","start":6150.09,"end":6150.57},{"text":"middle","start":6150.57,"end":6150.85},{"text":"income","start":6150.85,"end":6151.29},{"text":"countries","start":6151.29,"end":6152.01},{"text":"and","start":6152.01,"end":6152.13},{"text":"question","start":6152.13,"end":6152.57},{"text":"the","start":6152.57,"end":6152.65},{"text":"need","start":6152.65,"end":6152.85},{"text":"to","start":6152.85,"end":6152.97},{"text":"expand","start":6152.97,"end":6153.61},{"text":"it","start":6153.61,"end":6153.85},{"text":"in","start":6154.33,"end":6154.49},{"text":"light","start":6154.49,"end":6154.69},{"text":"of","start":6154.69,"end":6154.77},{"text":"successful","start":6154.77,"end":6155.53},{"text":"debt","start":6155.53,"end":6155.77},{"text":"restructuring","start":6155.77,"end":6156.49},{"text":"outside","start":6156.49,"end":6157.01},{"text":"of","start":6157.01,"end":6157.13},{"text":"the","start":6157.13,"end":6157.21},{"text":"common","start":6157.21,"end":6157.45},{"text":"framework.","start":6157.45,"end":6158.09}]},{"text":"We cannot support 50 without further information on this approach.","start":6159.37,"end":6163.61,"topics":[],"words":[{"text":"We","start":6159.37,"end":6159.53},{"text":"cannot","start":6159.85,"end":6160.17},{"text":"support","start":6160.17,"end":6160.57},{"text":"50","start":6160.57,"end":6161.45},{"text":"without","start":6161.45,"end":6161.77},{"text":"further","start":6161.77,"end":6162.05},{"text":"information","start":6162.05,"end":6162.61},{"text":"on","start":6162.61,"end":6162.69},{"text":"this","start":6162.69,"end":6162.89},{"text":"approach.","start":6162.89,"end":6163.61}]},{"text":"We oppose 50E as the Pact for the Future is clear that the review will be undertaken by the IMF in collaboration with the UN.","start":6164.21,"end":6170.85,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"We","start":6164.21,"end":6164.25},{"text":"oppose","start":6164.25,"end":6164.69},{"text":"50E","start":6164.69,"end":6165.49},{"text":"as","start":6165.49,"end":6165.65},{"text":"the","start":6165.65,"end":6165.73},{"text":"Pact","start":6165.73,"end":6165.97},{"text":"for","start":6165.97,"end":6166.09},{"text":"the","start":6166.09,"end":6166.17},{"text":"Future","start":6166.17,"end":6166.57},{"text":"is","start":6166.57,"end":6166.69},{"text":"clear","start":6166.69,"end":6167.17},{"text":"that","start":6167.17,"end":6167.33},{"text":"the","start":6167.33,"end":6167.41},{"text":"review","start":6167.41,"end":6167.73},{"text":"will","start":6167.73,"end":6167.85},{"text":"be","start":6167.85,"end":6168.05},{"text":"undertaken","start":6168.05,"end":6168.53},{"text":"by","start":6168.53,"end":6168.69},{"text":"the","start":6168.69,"end":6168.85},{"text":"IMF","start":6168.85,"end":6169.41},{"text":"in","start":6169.41,"end":6169.57},{"text":"collaboration","start":6169.57,"end":6170.17},{"text":"with","start":6170.17,"end":6170.33},{"text":"the","start":6170.33,"end":6170.41},{"text":"UN.","start":6170.41,"end":6170.85}]},{"text":"The initiation of a new intergovernmental process at the United Nations runs counter to this as the process is not yet complete.","start":6171.57,"end":6178.05,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."},{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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suggest we We suggest that we continue to let the process continue, so we find this paragraph more interesting at this 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thank the representative of Australia and now give the floor to the representative of Honduras, to be followed by the representative of 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align with the statement delivered by the Philippines on behalf of the middle-income countries, and we would like to express the following in our national 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we recognise that prudent management can be important for the silencing of sustainable development, but the current debt sustainability focus is not sufficient, particularly for developing countries.","start":6220.17,"end":6235.73,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"First,","start":6220.17,"end":6220.53},{"text":"we","start":6221.01,"end":6221.41},{"text":"recognise","start":6221.41,"end":6222.21},{"text":"that","start":6222.21,"end":6222.61},{"text":"prudent","start":6223.41,"end":6223.77},{"text":"management","start":6223.77,"end":6224.29},{"text":"can","start":6224.29,"end":6224.53},{"text":"be","start":6224.53,"end":6224.65},{"text":"important","start":6224.65,"end":6225.09},{"text":"for","start":6225.09,"end":6225.21},{"text":"the","start":6225.21,"end":6225.29},{"text":"silencing","start":6225.29,"end":6225.89},{"text":"of","start":6225.89,"end":6226.21},{"text":"sustainable","start":6226.77,"end":6227.21},{"text":"development,","start":6227.21,"end":6227.65},{"text":"but","start":6227.65,"end":6228.05},{"text":"the","start":6229.17,"end":6229.29},{"text":"current","start":6229.41,"end":6230.13},{"text":"debt","start":6230.85,"end":6231.33},{"text":"sustainability","start":6231.33,"end":6231.97},{"text":"focus","start":6231.97,"end":6232.37},{"text":"is","start":6232.37,"end":6232.69},{"text":"not","start":6232.69,"end":6233.09},{"text":"sufficient,","start":6233.09,"end":6233.81},{"text":"particularly","start":6233.93,"end":6234.61},{"text":"for","start":6234.61,"end":6234.77},{"text":"developing","start":6234.77,"end":6235.13},{"text":"countries.","start":6235.13,"end":6235.73}]},{"text":"While it's true that lending countries are important, the lack of an appropriate, fairer and sustainable framework continues to be a major obstacle.","start":6236.53,"end":6249.41,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"Transparency","start":6439.01,"end":6439.65},{"text":"should","start":6439.65,"end":6439.89},{"text":"empower","start":6439.97,"end":6440.53},{"text":"countries,","start":6440.53,"end":6441.17},{"text":"not","start":6441.65,"end":6441.89},{"text":"lead","start":6441.89,"end":6442.13},{"text":"to","start":6442.13,"end":6442.37},{"text":"disproportionate","start":6442.37,"end":6443.41},{"text":"financial","start":6443.41,"end":6443.89},{"text":"constraints.","start":6443.89,"end":6444.53}]},{"text":"In this regard, how will the mechanisms safeguard against unintended consequences for developing countries?","start":6444.61,"end":6450.13,"topics":[],"words":[{"text":"In","start":6444.61,"end":6444.77},{"text":"this","start":6444.77,"end":6444.93},{"text":"regard,","start":6444.93,"end":6445.29},{"text":"how","start":6445.29,"end":6445.49},{"text":"will","start":6445.49,"end":6445.65},{"text":"the","start":6445.65,"end":6445.77},{"text":"mechanisms","start":6445.77,"end":6446.33},{"text":"safeguard","start":6446.33,"end":6446.77},{"text":"against","start":6446.77,"end":6447.49},{"text":"unintended","start":6447.77,"end":6448.29},{"text":"consequences","start":6448.29,"end":6449.01},{"text":"for","start":6449.01,"end":6449.17},{"text":"developing","start":6449.17,"end":6449.57},{"text":"countries?","start":6449.57,"end":6450.13}]},{"text":"These elaborations will be instrumental in ensuring that the initiative is designed in a manner that is fair, balanced, and beneficial for all, particularly for developing countries.","start":6450.61,"end":6460.29,"topics":[],"words":[{"text":"These","start":6450.61,"end":6450.81},{"text":"elaborations","start":6450.81,"end":6451.49},{"text":"will","start":6451.49,"end":6451.65},{"text":"be","start":6451.65,"end":6451.77},{"text":"instrumental","start":6451.77,"end":6452.37},{"text":"in","start":6452.37,"end":6452.61},{"text":"ensuring","start":6452.61,"end":6453.09},{"text":"that","start":6453.09,"end":6453.25},{"text":"the","start":6453.25,"end":6453.37},{"text":"initiative","start":6453.37,"end":6453.89},{"text":"is","start":6453.89,"end":6454.13},{"text":"designed","start":6454.13,"end":6454.69},{"text":"in","start":6454.69,"end":6454.81},{"text":"a","start":6454.81,"end":6454.85},{"text":"manner","start":6454.85,"end":6455.17},{"text":"that","start":6455.17,"end":6455.41},{"text":"is","start":6455.65,"end":6455.97},{"text":"fair,","start":6455.97,"end":6456.37},{"text":"balanced,","start":6456.37,"end":6456.89},{"text":"and","start":6456.89,"end":6457.05},{"text":"beneficial","start":6457.05,"end":6457.57},{"text":"for","start":6457.57,"end":6457.93},{"text":"all,","start":6457.93,"end":6458.21},{"text":"particularly","start":6458.45,"end":6459.05},{"text":"for","start":6459.05,"end":6459.33},{"text":"developing","start":6459.33,"end":6459.81},{"text":"countries.","start":6459.81,"end":6460.29}]},{"text":"On paragraph 50, we support the call for a more inclusive, efficient, and development-oriented approach to debt restructuring, and to also highlight the importance of strengthening the common framework that accelerates debt relief for countries in distress, as well as to take into account the importance of debt-for-climate swaps, which allows countries to channel debt repayments into projects that support green energy transitions, disaster resilience, and poverty reduction.","start":6461.05,"end":6487.53,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"On","start":6952.13,"end":6952.37},{"text":"49A,","start":6952.37,"end":6953.41},{"text":"liquidity","start":6953.89,"end":6954.53},{"text":"challenges","start":6954.53,"end":6955.01},{"text":"discussion","start":6955.05,"end":6955.65},{"text":"should","start":6955.65,"end":6955.89},{"text":"be","start":6955.89,"end":6956.05},{"text":"aligned","start":6956.05,"end":6956.37},{"text":"with","start":6956.37,"end":6956.57},{"text":"the","start":6956.57,"end":6956.69},{"text":"three","start":6956.69,"end":6956.93},{"text":"pillar","start":6956.93,"end":6957.29},{"text":"approach","start":6957.29,"end":6957.73},{"text":"by","start":6957.73,"end":6957.89},{"text":"the","start":6957.89,"end":6958.01},{"text":"IMF","start":6958.01,"end":6958.53},{"text":"and","start":6958.53,"end":6958.65},{"text":"the","start":6958.65,"end":6958.73},{"text":"World","start":6958.73,"end":6958.93},{"text":"Bank,","start":6958.93,"end":6959.41},{"text":"which","start":6959.85,"end":6960.05},{"text":"have","start":6960.05,"end":6960.21},{"text":"particular","start":6960.21,"end":6960.77},{"text":"expertise","start":6960.77,"end":6961.41},{"text":"on","start":6961.41,"end":6961.49},{"text":"this","start":6961.49,"end":6961.73},{"text":"area.","start":6961.73,"end":6962.21}]},{"text":"On CDS, DSS, we need clarification of financing sources for debt relief before taking position.","start":6962.73,"end":6969.09,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"On","start":6962.73,"end":6962.85},{"text":"CDS,","start":6962.85,"end":6963.33},{"text":"DSS,","start":6963.37,"end":6964.53},{"text":"we","start":6964.53,"end":6964.69},{"text":"need","start":6964.69,"end":6964.93},{"text":"clarification","start":6964.93,"end":6965.81},{"text":"of","start":6965.81,"end":6965.89},{"text":"financing","start":6965.89,"end":6966.45},{"text":"sources","start":6966.45,"end":6966.85},{"text":"for","start":6966.85,"end":6967.05},{"text":"debt","start":6967.05,"end":6967.33},{"text":"relief","start":6967.33,"end":6967.81},{"text":"before","start":6967.81,"end":6968.13},{"text":"taking","start":6968.13,"end":6968.45},{"text":"position.","start":6968.45,"end":6969.09}]},{"text":"And we cannot support 49B as no existing facility fits the proposed role.","start":6970.13,"end":6975.33,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"And","start":6970.13,"end":6970.29},{"text":"we","start":6970.29,"end":6970.53},{"text":"cannot","start":6970.53,"end":6970.85},{"text":"support","start":6970.85,"end":6971.25},{"text":"49B","start":6971.25,"end":6972.37},{"text":"as","start":6972.45,"end":6972.77},{"text":"no","start":6972.77,"end":6973.01},{"text":"existing","start":6973.01,"end":6973.41},{"text":"facility","start":6973.41,"end":6973.97},{"text":"fits","start":6973.97,"end":6974.29},{"text":"the","start":6974.29,"end":6974.45},{"text":"proposed","start":6974.45,"end":6974.93},{"text":"role.","start":6974.93,"end":6975.33}]},{"text":"On 50, we oppose too late and remain too slow and shallow.","start":6976.45,"end":6981.13,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":6976.45,"end":6976.65},{"text":"50,","start":6976.65,"end":6977.29},{"text":"we","start":6977.53,"end":6977.69},{"text":"oppose","start":6977.69,"end":6978.33},{"text":"too","start":6978.41,"end":6978.81},{"text":"late","start":6978.81,"end":6979.29},{"text":"and","start":6979.29,"end":6979.57},{"text":"remain","start":6979.57,"end":6979.93},{"text":"too","start":6979.93,"end":6980.17},{"text":"slow","start":6980.17,"end":6980.45},{"text":"and","start":6980.45,"end":6980.57},{"text":"shallow.","start":6980.57,"end":6981.13}]},{"text":"Shallow is incorrect as debt restructuring ensure debt sustainability.","start":6981.61,"end":6985.53,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"The","start":6986.17,"end":6986.33},{"text":"part","start":6986.33,"end":6986.57},{"text":"of","start":6986.57,"end":6986.81},{"text":"the","start":6986.81,"end":6986.97},{"text":"ad","start":6987.05,"end":6987.29},{"text":"hoc","start":6987.29,"end":6987.69},{"text":"nature","start":6987.69,"end":6988.13},{"text":"of","start":6988.13,"end":6988.25},{"text":"debt","start":6988.25,"end":6988.49},{"text":"resolution","start":6988.49,"end":6989.13},{"text":"processes","start":6989.13,"end":6990.01},{"text":"is","start":6990.25,"end":6990.49},{"text":"also","start":6990.49,"end":6990.81},{"text":"misleading","start":6990.81,"end":6991.33},{"text":"and","start":6991.33,"end":6991.45},{"text":"incorrect.","start":6991.45,"end":6992.09}]},{"text":"Debt restructuring requires case-by-case approach while we already have well-established framework of debt restructuring under the G20 common framework.","start":6992.65,"end":7001.53,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Debt","start":6992.65,"end":6992.89},{"text":"restructuring","start":6992.89,"end":6993.77},{"text":"requires","start":6993.77,"end":6994.33},{"text":"case-by-case","start":6994.33,"end":6995.01},{"text":"approach","start":6995.01,"end":6995.61},{"text":"while","start":6995.89,"end":6996.17},{"text":"we","start":6996.17,"end":6996.41},{"text":"already","start":6996.41,"end":6996.81},{"text":"have","start":6996.81,"end":6997.13},{"text":"well-established","start":6997.13,"end":6997.89},{"text":"framework","start":6997.89,"end":6998.37},{"text":"of","start":6998.37,"end":6998.49},{"text":"debt","start":6998.49,"end":6998.73},{"text":"restructuring","start":6998.73,"end":6999.69},{"text":"under","start":6999.69,"end":6999.97},{"text":"the","start":6999.97,"end":7000.09},{"text":"G20","start":7000.09,"end":7000.57},{"text":"common","start":7000.57,"end":7000.89},{"text":"framework.","start":7000.89,"end":7001.53}]},{"text":"On 50A, We fully support improving G20 common framework implementation as a solution for debt crisis based on the IMF and World Bank DSA as an anchor.","start":7002.45,"end":7013.21,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"We","start":7026.97,"end":7027.17},{"text":"welcome","start":7027.17,"end":7027.61},{"text":"a","start":7027.69,"end":7027.73},{"text":"user","start":7027.73,"end":7028.05},{"text":"manual","start":7028.05,"end":7028.41},{"text":"for","start":7028.41,"end":7028.61},{"text":"debtors","start":7028.61,"end":7029.37},{"text":"with","start":7029.37,"end":7029.61},{"text":"clear","start":7029.61,"end":7030.01},{"text":"timelines","start":7030.01,"end":7030.57},{"text":"and","start":7030.57,"end":7030.81},{"text":"other","start":7030.81,"end":7031.05},{"text":"guidelines.","start":7031.05,"end":7031.77}]},{"text":"which would help to expedite the process of determining debt treatment.","start":7032.17,"end":7036.93,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":7052.61,"end":7052.85},{"text":"50e,","start":7052.85,"end":7053.81},{"text":"we","start":7054.29,"end":7054.45},{"text":"oppose","start":7054.45,"end":7054.93},{"text":"UN-led","start":7054.93,"end":7055.53},{"text":"debt","start":7055.53,"end":7055.65},{"text":"crisis","start":7055.65,"end":7056.09},{"text":"process,","start":7056.09,"end":7056.77},{"text":"as","start":7056.77,"end":7057.09},{"text":"it","start":7057.09,"end":7057.25},{"text":"is","start":7057.25,"end":7057.85},{"text":"ineffective,","start":7058.13,"end":7059.01},{"text":"Instead,","start":7059.45,"end":7060.01},{"text":"efforts","start":7060.25,"end":7060.61},{"text":"should","start":7060.61,"end":7060.81},{"text":"focus","start":7060.81,"end":7061.17},{"text":"on","start":7061.17,"end":7061.37},{"text":"improving","start":7061.37,"end":7062.01},{"text":"the","start":7062.01,"end":7062.09},{"text":"G20","start":7062.09,"end":7062.57},{"text":"common","start":7062.57,"end":7062.85},{"text":"framework.","start":7062.85,"end":7063.53}]},{"text":"For the UN process, it will be sufficient to use agreed language in the pact for the future.","start":7064.09,"end":7069.13,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"For","start":7064.09,"end":7064.25},{"text":"the","start":7064.25,"end":7064.33},{"text":"UN","start":7064.33,"end":7064.57},{"text":"process,","start":7064.57,"end":7065.13},{"text":"it","start":7065.21,"end":7065.33},{"text":"will","start":7065.33,"end":7065.45},{"text":"be","start":7065.45,"end":7065.61},{"text":"sufficient","start":7065.61,"end":7066.29},{"text":"to","start":7066.29,"end":7066.37},{"text":"use","start":7066.37,"end":7066.73},{"text":"agreed","start":7066.73,"end":7067.05},{"text":"language","start":7067.05,"end":7067.53},{"text":"in","start":7067.53,"end":7067.85},{"text":"the","start":7067.85,"end":7067.97},{"text":"pact","start":7067.97,"end":7068.33},{"text":"for","start":7068.33,"end":7068.49},{"text":"the","start":7068.49,"end":7068.61},{"text":"future.","start":7068.61,"end":7069.13}]},{"text":"Finally, on 51, while transparency and accuracy of credit rating are important, this paragraph judges assessment challenges related to credit assessments.","start":7070.01,"end":7080.33,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"Finally,","start":7070.01,"end":7070.65},{"text":"on","start":7070.73,"end":7071.05},{"text":"51,","start":7071.05,"end":7071.85},{"text":"while","start":7072.25,"end":7072.65},{"text":"transparency","start":7072.65,"end":7073.41},{"text":"and","start":7073.41,"end":7073.53},{"text":"accuracy","start":7073.53,"end":7074.09},{"text":"of","start":7074.09,"end":7074.25},{"text":"credit","start":7074.25,"end":7074.65},{"text":"rating","start":7074.65,"end":7075.01},{"text":"are","start":7075.01,"end":7075.09},{"text":"important,","start":7075.09,"end":7075.77},{"text":"this","start":7076.17,"end":7076.41},{"text":"paragraph","start":7076.41,"end":7076.97},{"text":"judges","start":7076.97,"end":7077.45},{"text":"assessment","start":7077.45,"end":7078.05},{"text":"challenges","start":7078.05,"end":7078.65},{"text":"related","start":7078.65,"end":7079.05},{"text":"to","start":7079.05,"end":7079.21},{"text":"credit","start":7079.21,"end":7079.61},{"text":"assessments.","start":7079.61,"end":7080.33}]},{"text":"More precise and targeted analysis in relevant organizations are needed before addressing these issues.","start":7080.97,"end":7087.69,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"More","start":7080.97,"end":7081.13},{"text":"precise","start":7081.13,"end":7081.85},{"text":"and","start":7082.09,"end":7082.41},{"text":"targeted","start":7082.41,"end":7082.85},{"text":"analysis","start":7082.85,"end":7083.45},{"text":"in","start":7083.45,"end":7083.61},{"text":"relevant","start":7083.61,"end":7084.13},{"text":"organizations","start":7084.13,"end":7084.93},{"text":"are","start":7084.93,"end":7085.05},{"text":"needed","start":7085.05,"end":7085.61},{"text":"before","start":7085.93,"end":7086.37},{"text":"addressing","start":7086.37,"end":7086.81},{"text":"these","start":7086.81,"end":7087.05},{"text":"issues.","start":7087.05,"end":7087.69}]},{"text":"We should avoid any commitments on enforcing consistent regulatory regimes for credit ratings before such reliable analysis.","start":7088.37,"end":7096.05,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. 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you.","start":7096.13,"end":7096.69,"topics":[],"words":[{"text":"I","start":7096.13,"end":7096.29},{"text":"thank","start":7096.29,"end":7096.53},{"text":"you.","start":7096.53,"end":7096.69}]}]}],"speaker":{"name":null,"affiliation":"JPN","affiliation_full":"Japan","group":null,"function":"Representative"}},{"statement_number":69,"start":7098.13,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=7099","paragraphs":[{"sentences":[{"text":"I thank the representative of Japan and now give the floor to the representative of Kenya to be followed by the representative of Zimbabwe.","start":7098.13,"end":7105.49,"topics":[],"words":[{"text":"I","start":7098.13,"end":7098.29},{"text":"thank","start":7098.29,"end":7098.57},{"text":"the","start":7098.57,"end":7098.65},{"text":"representative","start":7098.65,"end":7099.49},{"text":"of","start":7099.49,"end":7099.57},{"text":"Japan","start":7099.57,"end":7099.89},{"text":"and","start":7099.89,"end":7100.01},{"text":"now","start":7100.01,"end":7100.29},{"text":"give","start":7100.29,"end":7100.53},{"text":"the","start":7100.53,"end":7100.69},{"text":"floor","start":7100.69,"end":7100.89},{"text":"to","start":7100.89,"end":7101.05},{"text":"the","start":7101.05,"end":7101.13},{"text":"representative","start":7101.13,"end":7101.97},{"text":"of","start":7101.97,"end":7102.05},{"text":"Kenya","start":7102.05,"end":7102.53},{"text":"to","start":7102.53,"end":7102.77},{"text":"be","start":7102.77,"end":7102.93},{"text":"followed","start":7102.93,"end":7103.41},{"text":"by","start":7103.41,"end":7103.65},{"text":"the","start":7103.65,"end":7103.77},{"text":"representative","start":7103.77,"end":7104.61},{"text":"of","start":7104.61,"end":7104.77},{"text":"Zimbabwe.","start":7104.77,"end":7105.49}]},{"text":"Kenya, 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Group.","start":7114.65,"end":7122.33,"topics":[],"words":[{"text":"Kenya","start":7114.65,"end":7115.41},{"text":"aligns","start":7115.41,"end":7116.01},{"text":"its","start":7116.65,"end":7117.05},{"text":"comments","start":7117.05,"end":7117.69},{"text":"with","start":7117.69,"end":7117.93},{"text":"the","start":7117.93,"end":7118.01},{"text":"statements","start":7118.01,"end":7118.73},{"text":"made","start":7118.73,"end":7118.97},{"text":"by","start":7118.97,"end":7119.21},{"text":"Egypt","start":7119.21,"end":7120.01},{"text":"on","start":7120.09,"end":7120.33},{"text":"behalf","start":7120.33,"end":7120.73},{"text":"of","start":7120.73,"end":7120.89},{"text":"the","start":7120.89,"end":7121.01},{"text":"Africa","start":7121.45,"end":7121.93},{"text":"Group.","start":7121.93,"end":7122.33}]},{"text":"And in our national capacity, we wish to make the following comments.","start":7123.29,"end":7128.65,"topics":[],"words":[{"text":"And","start":7123.29,"end":7123.61},{"text":"in","start":7124.25,"end":7124.45},{"text":"our","start":7124.45,"end":7124.53},{"text":"national","start":7124.57,"end":7125.01},{"text":"capacity,","start":7125.01,"end":7125.93},{"text":"we","start":7125.93,"end":7126.17},{"text":"wish","start":7126.17,"end":7126.41},{"text":"to","start":7126.41,"end":7126.97},{"text":"make","start":7126.97,"end":7127.29},{"text":"the","start":7127.29,"end":7127.45},{"text":"following","start":7127.45,"end":7127.93},{"text":"comments.","start":7127.93,"end":7128.65}]},{"text":"On para 48c, on the issue of single data registry, We note that in terms of most, some countries, Kenya specifically, we already have a data registry which is robust, capturing information on debt recording and settlement.","start":7129.37,"end":7153.65,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"On","start":7129.37,"end":7129.61},{"text":"para","start":7129.61,"end":7129.93},{"text":"48c,","start":7129.93,"end":7131.69},{"text":"on","start":7132.85,"end":7132.97},{"text":"the","start":7132.97,"end":7133.13},{"text":"issue","start":7133.13,"end":7133.53},{"text":"of","start":7133.53,"end":7133.77},{"text":"single","start":7134.17,"end":7134.73},{"text":"data","start":7134.73,"end":7135.05},{"text":"registry,","start":7135.05,"end":7135.77},{"text":"We","start":7136.61,"end":7136.69},{"text":"note","start":7136.69,"end":7136.93},{"text":"that","start":7136.93,"end":7137.49},{"text":"in","start":7137.49,"end":7137.73},{"text":"terms","start":7137.73,"end":7138.13},{"text":"of","start":7138.13,"end":7138.45},{"text":"most,","start":7138.53,"end":7139.17},{"text":"some","start":7139.17,"end":7139.49},{"text":"countries,","start":7139.49,"end":7140.29},{"text":"Kenya","start":7141.01,"end":7141.81},{"text":"specifically,","start":7142.77,"end":7143.73},{"text":"we","start":7143.97,"end":7144.17},{"text":"already","start":7144.17,"end":7144.69},{"text":"have","start":7144.69,"end":7145.17},{"text":"a","start":7145.65,"end":7145.69},{"text":"data","start":7145.69,"end":7146.05},{"text":"registry","start":7146.05,"end":7146.65},{"text":"which","start":7146.65,"end":7146.85},{"text":"is","start":7146.85,"end":7147.01},{"text":"robust,","start":7147.01,"end":7147.57},{"text":"capturing","start":7147.57,"end":7148.29},{"text":"information","start":7149.65,"end":7150.53},{"text":"on","start":7150.53,"end":7151.25},{"text":"debt","start":7151.81,"end":7152.29},{"text":"recording","start":7152.29,"end":7152.77},{"text":"and","start":7152.77,"end":7152.93},{"text":"settlement.","start":7152.93,"end":7153.65}]},{"text":"So in this case, global data registry may not be relevant to all countries.","start":7153.97,"end":7161.25,"topics":[],"words":[{"text":"So","start":7153.97,"end":7154.29},{"text":"in","start":7154.29,"end":7154.45},{"text":"this","start":7154.45,"end":7154.77},{"text":"case,","start":7154.77,"end":7155.41},{"text":"global","start":7156.25,"end":7156.77},{"text":"data","start":7156.77,"end":7157.09},{"text":"registry","start":7157.09,"end":7157.73},{"text":"may","start":7157.73,"end":7158.29},{"text":"not","start":7158.29,"end":7158.85},{"text":"be","start":7159.09,"end":7159.29},{"text":"relevant","start":7159.29,"end":7160.09},{"text":"to","start":7160.09,"end":7160.29},{"text":"all","start":7160.29,"end":7160.53},{"text":"countries.","start":7160.53,"end":7161.25}]},{"text":"In this regard, we call that support should be given to countries that already do not have, um, uh, a data, uh, a death, uh, recording, uh, system so that they should have a robust death recording system in place.","start":7161.65,"end":7182.45,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. 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was where it is mentioned that we will have a facility.","start":7236.29,"end":7242.61,"topics":[],"words":[{"text":"There","start":7236.29,"end":7236.53},{"text":"was","start":7236.53,"end":7236.89},{"text":"where","start":7236.89,"end":7237.25},{"text":"it","start":7237.25,"end":7237.49},{"text":"is","start":7237.49,"end":7237.65},{"text":"mentioned","start":7237.65,"end":7238.37},{"text":"that","start":7238.37,"end":7238.77},{"text":"we","start":7240.85,"end":7241.09},{"text":"will","start":7241.09,"end":7241.33},{"text":"have","start":7241.33,"end":7241.73},{"text":"a","start":7241.73,"end":7241.89},{"text":"facility.","start":7241.89,"end":7242.61}]},{"text":"So in that regard then we note that this facility should be a facility that is the practicability should be indicated on how it will 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51A, In the last sentence, it says we.","start":7325.13,"end":7329.77,"topics":[],"words":[{"text":"Also","start":7325.13,"end":7325.45},{"text":"in","start":7325.45,"end":7325.61},{"text":"para","start":7325.77,"end":7326.05},{"text":"51A,","start":7326.05,"end":7327.05},{"text":"In","start":7327.69,"end":7327.77},{"text":"the","start":7327.77,"end":7327.89},{"text":"last","start":7327.89,"end":7328.37},{"text":"sentence,","start":7328.37,"end":7328.85},{"text":"it","start":7328.85,"end":7328.97},{"text":"says","start":7328.97,"end":7329.37},{"text":"we.","start":7329.37,"end":7329.77}]},{"text":"It is not clear whether it will be the IMF or the World Bank to do this, so it needs to be 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afternoon.","start":7345.93,"end":7346.65,"topics":[],"words":[{"text":"Good","start":7345.93,"end":7346.05},{"text":"afternoon.","start":7346.05,"end":7346.65}]},{"text":"I now give the floor to the representative of Zimbabwe, who will be followed by the representative of Canada.","start":7346.73,"end":7352.57,"topics":[],"words":[{"text":"I","start":7346.73,"end":7346.81},{"text":"now","start":7347.21,"end":7347.53},{"text":"give","start":7347.53,"end":7347.77},{"text":"the","start":7347.77,"end":7347.93},{"text":"floor","start":7347.93,"end":7348.33},{"text":"to","start":7348.33,"end":7348.49},{"text":"the","start":7348.49,"end":7348.57},{"text":"representative","start":7348.57,"end":7349.37},{"text":"of","start":7349.37,"end":7349.85},{"text":"Zimbabwe,","start":7349.85,"end":7350.33},{"text":"who","start":7350.33,"end":7350.45},{"text":"will","start":7350.45,"end":7350.57},{"text":"be","start":7350.57,"end":7350.65},{"text":"followed","start":7350.65,"end":7350.97},{"text":"by","start":7350.97,"end":7351.13},{"text":"the","start":7351.13,"end":7351.25},{"text":"representative","start":7351.25,"end":7352.01},{"text":"of","start":7352.01,"end":7352.09},{"text":"Canada.","start":7352.09,"end":7352.57}]},{"text":"Zimbabwe, you have the floor.","start":7353.21,"end":7354.41,"topics":[],"words":[{"text":"Zimbabwe,","start":7353.21,"end":7353.69},{"text":"you","start":7353.85,"end":7353.93},{"text":"have","start":7353.93,"end":7354.05},{"text":"the","start":7354.05,"end":7354.13},{"text":"floor.","start":7354.13,"end":7354.41}]}]}],"speaker":{"name":"Chola","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":73,"start":7355.61,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=7356","paragraphs":[{"sentences":[{"text":"Thank you, co-facilitator, for giving me the floor.","start":7355.61,"end":7359.05,"topics":[],"words":[{"text":"Thank","start":7355.61,"end":7355.77},{"text":"you,","start":7355.77,"end":7356.01},{"text":"co-facilitator,","start":7356.65,"end":7357.69},{"text":"for","start":7357.77,"end":7358.01},{"text":"giving","start":7358.01,"end":7358.33},{"text":"me","start":7358.33,"end":7358.49},{"text":"the","start":7358.49,"end":7358.65},{"text":"floor.","start":7358.65,"end":7359.05}]},{"text":"Zimbabwe aligns itself with the statement delivered by the Africa Group.","start":7359.85,"end":7364.01,"topics":[],"words":[{"text":"Zimbabwe","start":7359.85,"end":7360.33},{"text":"aligns","start":7360.33,"end":7360.81},{"text":"itself","start":7360.81,"end":7361.29},{"text":"with","start":7361.37,"end":7361.57},{"text":"the","start":7361.57,"end":7361.65},{"text":"statement","start":7361.65,"end":7362.13},{"text":"delivered","start":7362.13,"end":7362.57},{"text":"by","start":7362.57,"end":7362.81},{"text":"the","start":7363.21,"end":7363.33},{"text":"Africa","start":7363.33,"end":7363.61},{"text":"Group.","start":7363.61,"end":7364.01}]},{"text":"And in our national capacity, we'd like to add the following 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Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"High","start":7370.05,"end":7370.25},{"text":"borrowing","start":7370.25,"end":7370.65},{"text":"costs","start":7370.65,"end":7371.13},{"text":"and","start":7371.17,"end":7371.29},{"text":"subjective","start":7371.29,"end":7372.01},{"text":"credit","start":7372.49,"end":7372.81},{"text":"rating","start":7372.81,"end":7373.21},{"text":"systems","start":7373.21,"end":7373.77},{"text":"have","start":7373.77,"end":7373.93},{"text":"limited","start":7373.93,"end":7374.57},{"text":"the","start":7374.81,"end":7374.93},{"text":"access","start":7374.93,"end":7375.53},{"text":"by","start":7375.61,"end":7375.77},{"text":"developing","start":7375.77,"end":7376.25},{"text":"countries","start":7376.25,"end":7376.81},{"text":"to","start":7377.13,"end":7377.25},{"text":"new","start":7377.29,"end":7377.45},{"text":"lines","start":7377.45,"end":7377.73},{"text":"of","start":7377.73,"end":7377.85},{"text":"credit.","start":7377.85,"end":7378.33}]},{"text":"This has placed countries in a position of perpetual debt distress and has constrained fiscal space.","start":7378.73,"end":7385.05,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"This","start":7378.73,"end":7378.89},{"text":"has","start":7378.89,"end":7379.13},{"text":"placed","start":7379.13,"end":7379.65},{"text":"countries","start":7379.65,"end":7380.25},{"text":"in","start":7380.29,"end":7380.41},{"text":"a","start":7380.49,"end":7380.53},{"text":"position","start":7380.53,"end":7381.13},{"text":"of","start":7381.25,"end":7381.33},{"text":"perpetual","start":7381.33,"end":7381.85},{"text":"debt","start":7381.85,"end":7382.21},{"text":"distress","start":7382.21,"end":7382.89},{"text":"and","start":7383.33,"end":7383.45},{"text":"has","start":7383.45,"end":7383.61},{"text":"constrained","start":7383.61,"end":7384.17},{"text":"fiscal","start":7384.17,"end":7384.53},{"text":"space.","start":7384.53,"end":7385.05}]},{"text":"to channel resources towards much needed development programs.","start":7385.53,"end":7388.61,"topics":[],"words":[{"text":"to","start":7385.53,"end":7385.61},{"text":"channel","start":7385.61,"end":7385.93},{"text":"resources","start":7385.93,"end":7386.45},{"text":"towards","start":7386.45,"end":7386.93},{"text":"much","start":7386.93,"end":7387.17},{"text":"needed","start":7387.17,"end":7387.45},{"text":"development","start":7387.45,"end":7387.93},{"text":"programs.","start":7387.93,"end":7388.61}]},{"text":"Our proposed solutions include the following.","start":7389.33,"end":7391.81,"topics":[],"words":[{"text":"Our","start":7389.33,"end":7389.41},{"text":"proposed","start":7389.41,"end":7390.13},{"text":"solutions","start":7390.13,"end":7390.85},{"text":"include","start":7390.85,"end":7391.21},{"text":"the","start":7391.21,"end":7391.33},{"text":"following.","start":7391.33,"end":7391.81}]},{"text":"Firstly, regional financial institutions, which include the African Development Bank, have a critical role to play in providing affordable long term concessional funding.","start":7392.37,"end":7403.25,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Firstly,","start":7392.37,"end":7392.93},{"text":"regional","start":7393.65,"end":7394.05},{"text":"financial","start":7394.05,"end":7394.45},{"text":"institutions,","start":7394.45,"end":7395.29},{"text":"which","start":7395.29,"end":7395.57},{"text":"include","start":7395.57,"end":7396.13},{"text":"the","start":7396.13,"end":7396.33},{"text":"African","start":7396.37,"end":7396.65},{"text":"Development","start":7396.65,"end":7397.09},{"text":"Bank,","start":7397.09,"end":7397.49},{"text":"have","start":7398.29,"end":7398.45},{"text":"a","start":7398.53,"end":7398.57},{"text":"critical","start":7398.57,"end":7398.93},{"text":"role","start":7398.93,"end":7399.09},{"text":"to","start":7399.09,"end":7399.21},{"text":"play","start":7399.25,"end":7399.53},{"text":"in","start":7399.53,"end":7399.65},{"text":"providing","start":7399.65,"end":7400.29},{"text":"affordable","start":7400.29,"end":7400.97},{"text":"long","start":7400.97,"end":7401.17},{"text":"term","start":7401.17,"end":7401.49},{"text":"concessional","start":7401.73,"end":7402.45},{"text":"funding.","start":7402.61,"end":7403.25}]},{"text":"In this regard, they require adequate capacity for them to support countries in need.","start":7403.81,"end":7410.29,"topics":[],"words":[{"text":"In","start":7403.81,"end":7403.93},{"text":"this","start":7403.93,"end":7404.13},{"text":"regard,","start":7404.13,"end":7404.61},{"text":"they","start":7405.17,"end":7405.29},{"text":"require","start":7405.33,"end":7405.89},{"text":"adequate","start":7406.37,"end":7406.85},{"text":"capacity","start":7406.85,"end":7407.41},{"text":"for","start":7407.41,"end":7407.57},{"text":"them","start":7407.57,"end":7407.81},{"text":"to","start":7407.81,"end":7407.89},{"text":"support","start":7407.89,"end":7408.53},{"text":"countries","start":7409.09,"end":7409.73},{"text":"in","start":7409.73,"end":7409.93},{"text":"need.","start":7409.93,"end":7410.29}]},{"text":"To this end, we believe the rechanneling of special drawing rights to regional development banks is a viable solution to the inadequate capacity of banks to meet the borrowing needs of developing countries.","start":7410.61,"end":7424.45,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Additionally,","start":7424.77,"end":7425.49},{"text":"leveraging","start":7425.81,"end":7426.45},{"text":"SDRs","start":7426.45,"end":7427.17},{"text":"either","start":7427.89,"end":7428.29},{"text":"as","start":7428.37,"end":7428.53},{"text":"collateral","start":7428.53,"end":7429.25},{"text":"for","start":7429.25,"end":7429.57},{"text":"concessional","start":7429.73,"end":7430.73},{"text":"financing","start":7430.73,"end":7431.49},{"text":"or","start":7432.21,"end":7432.45},{"text":"debt","start":7432.45,"end":7432.85},{"text":"relief","start":7432.85,"end":7433.25},{"text":"efforts","start":7433.33,"end":7433.97},{"text":"would","start":7434.37,"end":7434.53},{"text":"be","start":7435.05,"end":7435.25},{"text":"an","start":7435.25,"end":7435.49},{"text":"efficient","start":7435.49,"end":7436.09},{"text":"way","start":7436.09,"end":7436.41},{"text":"to","start":7436.41,"end":7436.53},{"text":"provide","start":7436.57,"end":7437.05},{"text":"fiscal","start":7437.05,"end":7437.37},{"text":"space","start":7437.37,"end":7437.85},{"text":"for","start":7438.17,"end":7438.45},{"text":"our","start":7438.45,"end":7438.53},{"text":"countries,","start":7438.53,"end":7439.21},{"text":"thus","start":7439.45,"end":7439.77},{"text":"enabling","start":7439.77,"end":7440.33},{"text":"us","start":7440.41,"end":7440.65},{"text":"to","start":7440.65,"end":7440.77},{"text":"manage","start":7440.81,"end":7441.37},{"text":"our","start":7441.77,"end":7441.85},{"text":"debt","start":7441.85,"end":7442.17},{"text":"effectively","start":7442.17,"end":7442.85},{"text":"while","start":7442.85,"end":7443.13},{"text":"maintaining","start":7443.13,"end":7443.85},{"text":"access","start":7444.05,"end":7444.37},{"text":"to","start":7444.37,"end":7444.45},{"text":"international","start":7444.45,"end":7444.97},{"text":"markets.","start":7444.97,"end":7445.53}]},{"text":"Secondly, we believe the debt for investment swaps can be an effective, innovative tool of addressing debt challenges.","start":7445.85,"end":7454.33,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Secondly,","start":7445.85,"end":7446.49},{"text":"we","start":7446.81,"end":7446.89},{"text":"believe","start":7446.89,"end":7447.37},{"text":"the","start":7447.69,"end":7447.81},{"text":"debt","start":7447.85,"end":7448.09},{"text":"for","start":7448.09,"end":7448.29},{"text":"investment","start":7448.29,"end":7448.89},{"text":"swaps","start":7448.89,"end":7449.37},{"text":"can","start":7449.45,"end":7449.61},{"text":"be","start":7449.61,"end":7450.01},{"text":"an","start":7450.05,"end":7450.21},{"text":"effective,","start":7450.21,"end":7450.89},{"text":"innovative","start":7450.93,"end":7451.45},{"text":"tool","start":7451.45,"end":7451.77},{"text":"of","start":7452.21,"end":7452.29},{"text":"addressing","start":7452.33,"end":7453.05},{"text":"debt","start":7453.53,"end":7453.65},{"text":"challenges.","start":7453.65,"end":7454.33}]},{"text":"offering benefits for both debtors and creditors.","start":7455.11,"end":7458.23,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"offering","start":7455.11,"end":7455.59},{"text":"benefits","start":7455.59,"end":7456.11},{"text":"for","start":7456.11,"end":7456.23},{"text":"both","start":7456.23,"end":7456.55},{"text":"debtors","start":7456.87,"end":7457.43},{"text":"and","start":7457.43,"end":7457.59},{"text":"creditors.","start":7457.59,"end":7458.23}]},{"text":"We are encouraged by the examples from those countries that have explored this model and managed to simultaneously sustainably service their debts while attracting private investment for sustainable development.","start":7458.63,"end":7471.35,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":7458.63,"end":7458.83},{"text":"are","start":7459.47,"end":7459.59},{"text":"encouraged","start":7459.59,"end":7460.23},{"text":"by","start":7460.23,"end":7460.39},{"text":"the","start":7460.39,"end":7460.51},{"text":"examples","start":7460.51,"end":7461.19},{"text":"from","start":7461.19,"end":7461.43},{"text":"those","start":7461.43,"end":7461.67},{"text":"countries","start":7461.67,"end":7462.15},{"text":"that","start":7462.31,"end":7462.51},{"text":"have","start":7462.51,"end":7462.79},{"text":"explored","start":7463.03,"end":7463.47},{"text":"this","start":7463.47,"end":7463.67},{"text":"model","start":7463.67,"end":7464.07},{"text":"and","start":7464.47,"end":7464.67},{"text":"managed","start":7464.67,"end":7465.15},{"text":"to","start":7465.15,"end":7465.23},{"text":"simultaneously","start":7465.23,"end":7466.15},{"text":"sustainably","start":7466.39,"end":7467.11},{"text":"service","start":7467.11,"end":7467.51},{"text":"their","start":7467.51,"end":7467.75},{"text":"debts","start":7467.75,"end":7468.15},{"text":"while","start":7468.31,"end":7468.63},{"text":"attracting","start":7468.63,"end":7469.15},{"text":"private","start":7469.15,"end":7469.51},{"text":"investment","start":7469.51,"end":7470.03},{"text":"for","start":7470.03,"end":7470.19},{"text":"sustainable","start":7470.19,"end":7470.71},{"text":"development.","start":7470.71,"end":7471.35}]},{"text":"Thirdly, we welcome the recognition in paragraph 50 of the challenges associated with debt resolution processes, which are often initiated too late and do not address underlying challenges.","start":7471.75,"end":7485.39,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Thirdly,","start":7471.75,"end":7472.11},{"text":"we","start":7472.11,"end":7472.31},{"text":"welcome","start":7472.55,"end":7473.11},{"text":"the","start":7473.11,"end":7473.31},{"text":"recognition","start":7473.91,"end":7474.71},{"text":"in","start":7475.03,"end":7475.19},{"text":"paragraph","start":7475.19,"end":7475.95},{"text":"50","start":7475.95,"end":7476.39},{"text":"of","start":7476.91,"end":7477.03},{"text":"the","start":7477.03,"end":7477.15},{"text":"challenges","start":7477.27,"end":7477.83},{"text":"associated","start":7477.83,"end":7478.39},{"text":"with","start":7478.39,"end":7478.55},{"text":"debt","start":7478.55,"end":7479.03},{"text":"resolution","start":7479.31,"end":7479.75},{"text":"processes,","start":7479.75,"end":7480.47},{"text":"which","start":7480.71,"end":7480.99},{"text":"are","start":7480.99,"end":7481.11},{"text":"often","start":7481.11,"end":7481.59},{"text":"initiated","start":7481.59,"end":7482.15},{"text":"too","start":7482.15,"end":7482.31},{"text":"late","start":7482.31,"end":7482.71},{"text":"and","start":7483.19,"end":7483.35},{"text":"do","start":7483.35,"end":7483.47},{"text":"not","start":7483.47,"end":7483.67},{"text":"address","start":7483.67,"end":7484.19},{"text":"underlying","start":7484.23,"end":7484.75},{"text":"challenges.","start":7484.75,"end":7485.39}]},{"text":"Zimbabwe maintains that restructuring processes should also account for the development needs of the indebted countries and we lend our voice to calls for a more development-oriented international debt architecture.","start":7485.55,"end":7498.99,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":7524.87,"end":7525.03},{"text":"also","start":7525.03,"end":7525.43},{"text":"welcome","start":7525.43,"end":7525.91},{"text":"paragraph","start":7525.99,"end":7526.59},{"text":"50d,","start":7526.59,"end":7527.35},{"text":"which","start":7527.67,"end":7527.91},{"text":"highlights","start":7527.91,"end":7528.47},{"text":"the","start":7528.55,"end":7528.63},{"text":"important","start":7528.63,"end":7529.11},{"text":"work","start":7529.11,"end":7529.35},{"text":"done","start":7529.43,"end":7529.75},{"text":"by","start":7529.75,"end":7530.15},{"text":"the","start":7530.67,"end":7530.79},{"text":"Africa","start":7530.83,"end":7531.39},{"text":"Legal","start":7531.39,"end":7531.79},{"text":"Support","start":7531.79,"end":7532.15},{"text":"Facility","start":7532.15,"end":7532.83},{"text":"in","start":7533.19,"end":7533.31},{"text":"providing","start":7533.31,"end":7533.95},{"text":"legal","start":7533.95,"end":7534.51},{"text":"and","start":7534.55,"end":7534.67},{"text":"financial","start":7534.67,"end":7535.11},{"text":"advice","start":7535.11,"end":7535.63},{"text":"to","start":7535.83,"end":7535.91},{"text":"African","start":7535.91,"end":7536.27},{"text":"countries","start":7536.27,"end":7536.75},{"text":"during","start":7536.75,"end":7537.15},{"text":"negotiations","start":7537.31,"end":7538.27},{"text":"and","start":7538.39,"end":7538.59},{"text":"structuring","start":7538.83,"end":7539.55},{"text":"of","start":7539.59,"end":7539.79},{"text":"debt","start":7540.19,"end":7540.63},{"text":"transactions.","start":7540.63,"end":7541.55}]},{"text":"In the same vein, stronger efforts must be made to build capacity in African countries to effectively negotiate the most favorable debt mechanisms.","start":7542.35,"end":7552.03,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"Paragraph","start":7552.51,"end":7552.95},{"text":"51","start":7552.95,"end":7553.55},{"text":"on","start":7553.75,"end":7553.83},{"text":"credit","start":7553.87,"end":7554.35},{"text":"ratings","start":7554.35,"end":7554.83},{"text":"can","start":7555.79,"end":7556.03},{"text":"benefit","start":7556.03,"end":7556.67},{"text":"from","start":7556.83,"end":7557.15},{"text":"stronger","start":7557.15,"end":7557.63},{"text":"language.","start":7557.63,"end":7558.19}]},{"text":"Developing countries are often at the receiving end of the current credit ratings, whose processes are undermined by subjectivity and transparency concerns.","start":7558.79,"end":7569.59,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":7613.67,"end":7613.83},{"text":"suggest","start":7613.83,"end":7614.19},{"text":"explicitly","start":7614.19,"end":7614.87},{"text":"referencing","start":7614.87,"end":7615.59},{"text":"CRDCs","start":7615.59,"end":7616.55},{"text":"in","start":7616.79,"end":7616.95},{"text":"48D","start":7616.95,"end":7617.83},{"text":"as","start":7618.07,"end":7618.27},{"text":"it","start":7618.27,"end":7618.35},{"text":"represents","start":7618.35,"end":7618.95},{"text":"an","start":7618.95,"end":7619.03},{"text":"important","start":7619.03,"end":7619.47},{"text":"tool","start":7619.47,"end":7619.67},{"text":"for","start":7619.67,"end":7619.83},{"text":"countries","start":7619.83,"end":7620.39},{"text":"facing","start":7620.39,"end":7620.71},{"text":"climate","start":7620.71,"end":7621.07},{"text":"challenges.","start":7621.07,"end":7621.75}]},{"text":"Canada reaffirms its call on all creditors to explore embedding CRDCs into all new sovereign lending.","start":7622.23,"end":7628.15,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"in","start":7951.87,"end":7952.03},{"text":"the","start":7952.03,"end":7952.15},{"text":"global","start":7952.27,"end":7952.75},{"text":"debt","start":7952.75,"end":7952.99},{"text":"architecture.","start":7952.99,"end":7953.87}]},{"text":"However, the reference to the pact for the future is not acceptable to us.","start":7953.87,"end":7958.19,"topics":[],"words":[{"text":"However,","start":7953.87,"end":7954.51},{"text":"the","start":7954.51,"end":7954.63},{"text":"reference","start":7954.63,"end":7955.11},{"text":"to","start":7955.11,"end":7955.31},{"text":"the","start":7955.31,"end":7955.47},{"text":"pact","start":7955.47,"end":7955.79},{"text":"for","start":7955.79,"end":7955.95},{"text":"the","start":7955.95,"end":7956.03},{"text":"future","start":7956.03,"end":7956.75},{"text":"is","start":7956.75,"end":7957.07},{"text":"not","start":7957.07,"end":7957.19},{"text":"acceptable","start":7957.19,"end":7957.71},{"text":"to","start":7957.71,"end":7957.91},{"text":"us.","start":7957.91,"end":7958.19}]},{"text":"Paragraph 51B, we propose including proposal on the need to hold a regular dialogue between member states, credit rating agencies, governing bodies, regulatory bodies and standard setting agencies, as well as other interested bodies.","start":7960.59,"end":7981.79,"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. 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Thank you, Ambassador.","start":8009.19,"end":8010.55,"topics":[],"words":[{"text":"Thank","start":8009.19,"end":8009.47},{"text":"you.","start":8009.47,"end":8009.59},{"text":"Thank","start":8009.59,"end":8009.79},{"text":"you,","start":8009.79,"end":8009.87},{"text":"Ambassador.","start":8009.87,"end":8010.55}]},{"text":"In this section focusing on enhancing debt management and sustainability, we strongly align with the statement and remarks delivered by Philippines on behalf of the like-minded group of countries for middle-income countries.","start":8011.43,"end":8022.07,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"And","start":8111.03,"end":8111.15},{"text":"the","start":8111.15,"end":8111.23},{"text":"title","start":8111.23,"end":8111.51},{"text":"of","start":8111.51,"end":8111.59},{"text":"the","start":8111.59,"end":8111.75},{"text":"third","start":8111.75,"end":8111.99},{"text":"section","start":8111.99,"end":8112.47},{"text":"is","start":8112.47,"end":8112.63},{"text":"debt","start":8112.63,"end":8112.79},{"text":"architecture","start":8112.79,"end":8113.51},{"text":"for","start":8113.51,"end":8113.67},{"text":"debt","start":8113.67,"end":8113.83},{"text":"crisis","start":8113.83,"end":8114.23},{"text":"resolution.","start":8114.23,"end":8114.87}]},{"text":"However, under this section, we would like to propose to include in paragraph 50, after heavily indebted countries, a reference to countries facing crisis.","start":8115.03,"end":8122.95,"topics":[],"words":[{"text":"However,","start":8115.03,"end":8115.59},{"text":"under","start":8115.75,"end":8116.07},{"text":"this","start":8116.07,"end":8116.27},{"text":"section,","start":8116.27,"end":8116.71},{"text":"we","start":8116.87,"end":8116.99},{"text":"would","start":8116.99,"end":8117.15},{"text":"like","start":8117.15,"end":8117.31},{"text":"to","start":8117.31,"end":8117.43},{"text":"propose","start":8117.43,"end":8117.83},{"text":"to","start":8117.83,"end":8117.91},{"text":"include","start":8117.91,"end":8118.23},{"text":"in","start":8118.23,"end":8118.31},{"text":"paragraph","start":8118.31,"end":8118.75},{"text":"50,","start":8118.75,"end":8119.19},{"text":"after","start":8119.51,"end":8119.83},{"text":"heavily","start":8119.83,"end":8120.19},{"text":"indebted","start":8120.19,"end":8120.59},{"text":"countries,","start":8120.59,"end":8121.03},{"text":"a","start":8121.03,"end":8121.11},{"text":"reference","start":8121.11,"end":8121.59},{"text":"to","start":8121.59,"end":8121.75},{"text":"countries","start":8121.75,"end":8122.11},{"text":"facing","start":8122.11,"end":8122.39},{"text":"crisis.","start":8122.39,"end":8122.95}]},{"text":"I thank you.","start":8123.35,"end":8123.91,"topics":[],"words":[{"text":"I","start":8123.35,"end":8123.51},{"text":"thank","start":8123.51,"end":8123.75},{"text":"you.","start":8123.75,"end":8123.91}]}]}],"speaker":{"name":null,"affiliation":"LBN","affiliation_full":"Lebanon","group":null,"function":"Representative"}},{"statement_number":82,"start":8125.27,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=8126","paragraphs":[{"sentences":[{"text":"I thank the representative of Lebanon, and I'll give the floor to the representative of the Holy See, who will be followed by the representative of Cabo Verde and then UK.","start":8125.27,"end":8134.63,"topics":[],"words":[{"text":"I","start":8125.27,"end":8125.35},{"text":"thank","start":8125.39,"end":8125.59},{"text":"the","start":8125.59,"end":8125.67},{"text":"representative","start":8125.67,"end":8126.31},{"text":"of","start":8126.31,"end":8126.39},{"text":"Lebanon,","start":8126.39,"end":8127.35},{"text":"and","start":8127.47,"end":8127.63},{"text":"I'll","start":8128.07,"end":8128.35},{"text":"give","start":8128.35,"end":8128.47},{"text":"the","start":8128.47,"end":8128.59},{"text":"floor","start":8128.59,"end":8128.79},{"text":"to","start":8128.79,"end":8128.91},{"text":"the","start":8128.91,"end":8129.03},{"text":"representative","start":8129.03,"end":8129.75},{"text":"of","start":8129.75,"end":8129.83},{"text":"the","start":8129.83,"end":8129.95},{"text":"Holy","start":8129.95,"end":8130.19},{"text":"See,","start":8130.19,"end":8130.55},{"text":"who","start":8130.91,"end":8130.99},{"text":"will","start":8130.99,"end":8131.11},{"text":"be","start":8131.11,"end":8131.23},{"text":"followed","start":8131.23,"end":8131.51},{"text":"by","start":8131.51,"end":8131.67},{"text":"the","start":8131.67,"end":8131.75},{"text":"representative","start":8131.75,"end":8132.55},{"text":"of","start":8132.55,"end":8132.63},{"text":"Cabo","start":8132.63,"end":8132.91},{"text":"Verde","start":8132.91,"end":8133.35},{"text":"and","start":8133.35,"end":8133.55},{"text":"then","start":8133.55,"end":8133.83},{"text":"UK.","start":8134.15,"end":8134.63}]},{"text":"Holy See.","start":8135.19,"end":8135.75,"topics":[],"words":[{"text":"Holy","start":8135.19,"end":8135.43},{"text":"See.","start":8135.43,"end":8135.75}]}]}],"speaker":{"name":"Chola","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}},{"statement_number":83,"start":8137.59,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=8138","paragraphs":[{"sentences":[{"text":"Thank you, Mr. Co-Facilitator. The Holy See's contributions to this document are guided by the aim to transform our international financial architecture as a means to turbocharging our commitments to eradicate poverty and achieve sustainable development.","start":8137.59,"end":8151.27,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Thank","start":8137.59,"end":8137.83},{"text":"you,","start":8137.83,"end":8137.95},{"text":"Mr.","start":8137.95,"end":8138.23},{"text":"Co-Facilitator.","start":8138.23,"end":8139.15},{"text":"The","start":8139.91,"end":8140.07},{"text":"Holy","start":8140.07,"end":8140.31},{"text":"See's","start":8140.31,"end":8140.55},{"text":"contributions","start":8140.55,"end":8141.27},{"text":"to","start":8141.27,"end":8141.39},{"text":"this","start":8141.39,"end":8141.55},{"text":"document","start":8141.55,"end":8142.07},{"text":"are","start":8142.07,"end":8142.19},{"text":"guided","start":8142.19,"end":8142.63},{"text":"by","start":8142.63,"end":8142.87},{"text":"the","start":8142.87,"end":8142.99},{"text":"aim","start":8142.99,"end":8143.27},{"text":"to","start":8143.27,"end":8143.39},{"text":"transform","start":8143.39,"end":8143.99},{"text":"our","start":8143.99,"end":8144.11},{"text":"international","start":8144.11,"end":8144.79},{"text":"financial","start":8144.79,"end":8145.27},{"text":"architecture","start":8145.27,"end":8145.99},{"text":"as","start":8146.31,"end":8146.47},{"text":"a","start":8146.47,"end":8146.51},{"text":"means","start":8146.51,"end":8146.79},{"text":"to","start":8146.79,"end":8146.99},{"text":"turbocharging","start":8146.99,"end":8147.75},{"text":"our","start":8147.75,"end":8147.83},{"text":"commitments","start":8147.83,"end":8148.39},{"text":"to","start":8148.39,"end":8148.51},{"text":"eradicate","start":8148.51,"end":8148.99},{"text":"poverty","start":8148.99,"end":8149.39},{"text":"and","start":8149.39,"end":8149.51},{"text":"achieve","start":8149.75,"end":8150.19},{"text":"sustainable","start":8150.19,"end":8150.71},{"text":"development.","start":8150.71,"end":8151.27}]},{"text":"Unsustainable debt must be recognized not only as a major obstacle to such efforts, but a systemic risk that undermines global economic stability.","start":8152.07,"end":8160.79,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Unsustainable","start":8152.07,"end":8152.79},{"text":"debt","start":8152.79,"end":8152.95},{"text":"must","start":8152.95,"end":8153.23},{"text":"be","start":8153.23,"end":8153.31},{"text":"recognized","start":8153.31,"end":8153.99},{"text":"not","start":8153.99,"end":8154.15},{"text":"only","start":8154.15,"end":8154.51},{"text":"as","start":8154.51,"end":8154.63},{"text":"a","start":8154.63,"end":8154.67},{"text":"major","start":8154.67,"end":8154.99},{"text":"obstacle","start":8154.99,"end":8155.47},{"text":"to","start":8155.47,"end":8155.55},{"text":"such","start":8155.59,"end":8155.79},{"text":"efforts,","start":8155.79,"end":8156.23},{"text":"but","start":8156.63,"end":8156.79},{"text":"a","start":8156.79,"end":8156.87},{"text":"systemic","start":8156.87,"end":8157.43},{"text":"risk","start":8157.43,"end":8157.83},{"text":"that","start":8157.83,"end":8157.95},{"text":"undermines","start":8157.95,"end":8158.51},{"text":"global","start":8158.51,"end":8158.95},{"text":"economic","start":8158.99,"end":8159.43},{"text":"stability.","start":8159.43,"end":8160.79}]},{"text":"It is the Holy See's view that a critical element of effective action on addressing debt challenges is debt cancellation.","start":8162.03,"end":8167.43,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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we'd like these considerations to be included in the paragraph 48.","start":8422.43,"end":8428.27,"topics":[],"words":[{"text":"Therefore,","start":8422.43,"end":8423.15},{"text":"we'd","start":8423.71,"end":8423.99},{"text":"like","start":8423.99,"end":8424.19},{"text":"these","start":8424.51,"end":8424.91},{"text":"considerations","start":8424.91,"end":8425.87},{"text":"to","start":8425.87,"end":8425.99},{"text":"be","start":8425.99,"end":8426.19},{"text":"included","start":8426.19,"end":8426.75},{"text":"in","start":8426.83,"end":8426.99},{"text":"the","start":8426.99,"end":8427.07},{"text":"paragraph","start":8427.07,"end":8427.67},{"text":"48.","start":8427.67,"end":8428.27}]},{"text":"I thank you.","start":8428.51,"end":8429.07,"topics":[],"words":[{"text":"I","start":8428.51,"end":8428.67},{"text":"thank","start":8428.67,"end":8428.95},{"text":"you.","start":8428.95,"end":8429.07}]}]}],"speaker":{"name":null,"affiliation":"CPV","affiliation_full":"Cabo 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"On","start":8478.07,"end":8478.19},{"text":"paragraph","start":8478.19,"end":8478.51},{"text":"48a,","start":8478.51,"end":8479.19},{"text":"We","start":8479.83,"end":8479.91},{"text":"would","start":8479.91,"end":8480.03},{"text":"like","start":8480.03,"end":8480.19},{"text":"to","start":8480.19,"end":8480.31},{"text":"better","start":8480.31,"end":8480.55},{"text":"understand","start":8480.55,"end":8481.11},{"text":"proposals","start":8481.11,"end":8481.63},{"text":"for","start":8481.63,"end":8481.75},{"text":"developing","start":8481.75,"end":8482.15},{"text":"sustainable","start":8482.15,"end":8482.63},{"text":"lending","start":8482.63,"end":8482.87},{"text":"principles","start":8482.87,"end":8483.51},{"text":"at","start":8483.59,"end":8483.79},{"text":"the","start":8483.79,"end":8483.87},{"text":"UN,","start":8483.87,"end":8484.31},{"text":"as","start":8484.63,"end":8484.87},{"text":"we","start":8484.87,"end":8485.03},{"text":"see","start":8485.03,"end":8485.27},{"text":"greater","start":8485.27,"end":8485.67},{"text":"value","start":8485.67,"end":8486.07},{"text":"in","start":8486.07,"end":8486.19},{"text":"calling","start":8486.19,"end":8486.47},{"text":"for","start":8486.47,"end":8486.59},{"text":"adherence","start":8486.59,"end":8486.99},{"text":"to","start":8486.99,"end":8487.07},{"text":"existing","start":8487.07,"end":8487.67},{"text":"agreed","start":8487.67,"end":8487.91},{"text":"principles,","start":8487.91,"end":8488.55},{"text":"including","start":8488.87,"end":8489.43},{"text":"G20","start":8489.43,"end":8489.95},{"text":"and","start":8489.95,"end":8490.07},{"text":"OECD","start":8490.07,"end":8490.47},{"text":"principles.","start":8490.47,"end":8491.19}]},{"text":"On 48D, we strongly support the use of measures to ensure new lending is sustainable.","start":8491.99,"end":8496.71,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"On","start":8491.99,"end":8492.15},{"text":"48D,","start":8492.15,"end":8492.95},{"text":"we","start":8493.35,"end":8493.55},{"text":"strongly","start":8493.55,"end":8493.99},{"text":"support","start":8493.99,"end":8494.31},{"text":"the","start":8494.31,"end":8494.43},{"text":"use","start":8494.43,"end":8494.63},{"text":"of","start":8494.63,"end":8494.71},{"text":"measures","start":8494.71,"end":8495.11},{"text":"to","start":8495.11,"end":8495.19},{"text":"ensure","start":8495.19,"end":8495.51},{"text":"new","start":8495.51,"end":8495.71},{"text":"lending","start":8495.71,"end":8495.99},{"text":"is","start":8495.99,"end":8496.11},{"text":"sustainable.","start":8496.11,"end":8496.71}]},{"text":"In this vein, we would like to see higher ambition on state contingent debt clauses or natural disaster clauses.","start":8497.19,"end":8502.55,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"In","start":8497.19,"end":8497.31},{"text":"this","start":8497.31,"end":8497.51},{"text":"vein,","start":8497.51,"end":8497.83},{"text":"we","start":8497.83,"end":8497.91},{"text":"would","start":8497.91,"end":8498.07},{"text":"like","start":8498.07,"end":8498.19},{"text":"to","start":8498.19,"end":8498.31},{"text":"see","start":8498.31,"end":8498.47},{"text":"higher","start":8498.47,"end":8498.83},{"text":"ambition","start":8498.83,"end":8499.23},{"text":"on","start":8499.23,"end":8499.35},{"text":"state","start":8499.35,"end":8499.59},{"text":"contingent","start":8499.59,"end":8500.11},{"text":"debt","start":8500.11,"end":8500.31},{"text":"clauses","start":8500.63,"end":8501.19},{"text":"or","start":8501.19,"end":8501.35},{"text":"natural","start":8501.35,"end":8501.67},{"text":"disaster","start":8501.67,"end":8502.07},{"text":"clauses.","start":8502.07,"end":8502.55}]},{"text":"We should call on all creditors to include such clauses in loan and debt contracts.","start":8502.87,"end":8507.03,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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Kingdom.","start":8588.51,"end":8590.83,"topics":[],"words":[{"text":"I","start":8588.51,"end":8588.59},{"text":"thank","start":8588.59,"end":8588.87},{"text":"the","start":8588.87,"end":8588.95},{"text":"representative","start":8588.95,"end":8589.71},{"text":"of","start":8589.71,"end":8589.87},{"text":"the","start":8589.87,"end":8589.95},{"text":"United","start":8589.95,"end":8590.27},{"text":"Kingdom.","start":8590.27,"end":8590.83}]},{"text":"I now recognize the representative from Haiti, who will be followed by the representative from Pakistan and then 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of whom on twenty two january twenty twenty five presented this zero draft version of the outcome document for ffd four which we're examining today the delegation of haiti aligns with the statement delivered by the l d c s and would like to add the following in our national capacity on to on the viability of debt and solutions to systemic challenges.","start":8618.83,"end":8655.63,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"There","start":8820.59,"end":8820.75},{"text":"is","start":8820.75,"end":8820.83},{"text":"clearly","start":8820.83,"end":8821.47},{"text":"a","start":8821.47,"end":8821.51},{"text":"selective","start":8821.51,"end":8822.03},{"text":"rewriting","start":8822.03,"end":8822.67},{"text":"of","start":8822.67,"end":8822.91},{"text":"how","start":8822.91,"end":8823.23},{"text":"the","start":8823.23,"end":8823.39},{"text":"Addis","start":8823.39,"end":8823.75},{"text":"Ababa","start":8823.75,"end":8824.07},{"text":"Action","start":8824.07,"end":8824.51},{"text":"Agenda","start":8824.51,"end":8824.99},{"text":"framed","start":8825.23,"end":8825.79},{"text":"the","start":8825.79,"end":8825.87},{"text":"distribution","start":8825.87,"end":8826.47},{"text":"of","start":8826.47,"end":8826.55},{"text":"responsibility","start":8826.55,"end":8827.35},{"text":"between","start":8827.35,"end":8827.71},{"text":"borrowers","start":8827.71,"end":8828.35},{"text":"and","start":8828.35,"end":8828.67},{"text":"lenders.","start":8828.67,"end":8829.23}]},{"text":"We ask you to revisit the beginning of this paragraph.","start":8829.55,"end":8832.43,"topics":[],"words":[{"text":"We","start":8829.55,"end":8829.79},{"text":"ask","start":8829.79,"end":8829.99},{"text":"you","start":8829.99,"end":8830.11},{"text":"to","start":8830.11,"end":8830.19},{"text":"revisit","start":8830.19,"end":8830.75},{"text":"the","start":8830.75,"end":8830.87},{"text":"beginning","start":8830.87,"end":8831.39},{"text":"of","start":8831.39,"end":8831.63},{"text":"this","start":8831.63,"end":8831.87},{"text":"paragraph.","start":8831.87,"end":8832.43}]},{"text":"The key issues we need retained and strengthened in the Rev 1 are as follows.","start":8833.07,"end":8837.71,"topics":[],"words":[{"text":"The","start":8833.07,"end":8833.19},{"text":"key","start":8833.23,"end":8833.47},{"text":"issues","start":8833.47,"end":8833.95},{"text":"we","start":8833.95,"end":8834.11},{"text":"need","start":8834.11,"end":8834.51},{"text":"retained","start":8834.59,"end":8835.23},{"text":"and","start":8835.23,"end":8835.43},{"text":"strengthened","start":8835.43,"end":8836.11},{"text":"in","start":8836.11,"end":8836.19},{"text":"the","start":8836.19,"end":8836.31},{"text":"Rev","start":8836.31,"end":8836.51},{"text":"1","start":8836.51,"end":8836.83},{"text":"are","start":8836.83,"end":8836.99},{"text":"as","start":8836.99,"end":8837.15},{"text":"follows.","start":8837.15,"end":8837.71}]},{"text":"The proposal on principles for sovereign borrowing and lending, a global central debt data registry, the creation of a borrower platform, a model law on debt restructuring, reforming the G20 common framework, an institutional facility to provide debt servicing support and revisiting the debt sustainability analysis allow us to highlight how these can be strengthened.","start":8838.11,"end":8859.91,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"The","start":8838.11,"end":8838.23},{"text":"proposal","start":8838.23,"end":8838.83},{"text":"on","start":8838.83,"end":8838.99},{"text":"principles","start":8838.99,"end":8839.55},{"text":"for","start":8839.55,"end":8839.71},{"text":"sovereign","start":8839.71,"end":8840.11},{"text":"borrowing","start":8840.11,"end":8840.47},{"text":"and","start":8840.47,"end":8840.63},{"text":"lending,","start":8840.63,"end":8840.99},{"text":"a","start":8841.47,"end":8841.55},{"text":"global","start":8841.55,"end":8842.11},{"text":"central","start":8842.11,"end":8842.51},{"text":"debt","start":8842.51,"end":8842.83},{"text":"data","start":8842.83,"end":8843.11},{"text":"registry,","start":8843.11,"end":8843.71},{"text":"the","start":8844.03,"end":8844.19},{"text":"creation","start":8844.19,"end":8844.75},{"text":"of","start":8844.75,"end":8844.87},{"text":"a","start":8844.87,"end":8844.91},{"text":"borrower","start":8844.91,"end":8845.39},{"text":"platform,","start":8845.39,"end":8846.03},{"text":"a","start":8846.35,"end":8846.43},{"text":"model","start":8846.43,"end":8846.87},{"text":"law","start":8846.87,"end":8847.11},{"text":"on","start":8847.11,"end":8847.23},{"text":"debt","start":8847.23,"end":8847.47},{"text":"restructuring,","start":8847.47,"end":8848.19},{"text":"reforming","start":8848.51,"end":8849.15},{"text":"the","start":8849.15,"end":8849.23},{"text":"G20","start":8849.23,"end":8849.71},{"text":"common","start":8849.71,"end":8850.03},{"text":"framework,","start":8850.03,"end":8850.59},{"text":"an","start":8850.95,"end":8851.07},{"text":"institutional","start":8851.07,"end":8851.71},{"text":"facility","start":8851.71,"end":8852.19},{"text":"to","start":8852.19,"end":8852.27},{"text":"provide","start":8852.27,"end":8852.71},{"text":"debt","start":8852.71,"end":8852.83},{"text":"servicing","start":8852.83,"end":8853.31},{"text":"support","start":8853.31,"end":8853.79},{"text":"and","start":8854.19,"end":8854.51},{"text":"revisiting","start":8854.51,"end":8855.23},{"text":"the","start":8855.23,"end":8855.39},{"text":"debt","start":8855.39,"end":8855.59},{"text":"sustainability","start":8855.59,"end":8856.43},{"text":"analysis","start":8856.43,"end":8857.07},{"text":"allow","start":8857.47,"end":8857.79},{"text":"us","start":8857.79,"end":8857.95},{"text":"to","start":8857.95,"end":8858.07},{"text":"highlight","start":8858.07,"end":8858.59},{"text":"how","start":8858.59,"end":8858.83},{"text":"these","start":8858.83,"end":8859.07},{"text":"can","start":8859.07,"end":8859.19},{"text":"be","start":8859.19,"end":8859.31},{"text":"strengthened.","start":8859.31,"end":8859.91}]},{"text":"On 48A on the working group for principles of borrowing and lending, like many other developing countries are proposed, this working group needs to be set up in consultation with member states and its outcomes need to be submitted to the General Assembly for consideration.","start":8860.47,"end":8874.79,"topics":[{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. 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On 48G, if we can only encourage the creation of platforms, it is a meaningless commitment.","start":8894.87,"end":8903.75,"topics":[],"words":[{"text":"We","start":8894.87,"end":8894.99},{"text":"support","start":8894.99,"end":8895.51},{"text":"48D,","start":8895.51,"end":8896.83},{"text":"E,","start":8896.83,"end":8896.87},{"text":"and","start":8896.87,"end":8897.11},{"text":"F.","start":8897.11,"end":8897.43},{"text":"On","start":8897.99,"end":8898.15},{"text":"48G,","start":8898.15,"end":8899.11},{"text":"if","start":8899.43,"end":8899.55},{"text":"we","start":8899.55,"end":8899.75},{"text":"can","start":8899.75,"end":8899.99},{"text":"only","start":8899.99,"end":8900.31},{"text":"encourage","start":8900.31,"end":8900.95},{"text":"the","start":8900.95,"end":8901.11},{"text":"creation","start":8901.11,"end":8901.59},{"text":"of","start":8901.59,"end":8901.67},{"text":"platforms,","start":8901.67,"end":8902.39},{"text":"it","start":8902.39,"end":8902.55},{"text":"is","start":8902.55,"end":8902.67},{"text":"a","start":8902.67,"end":8902.71},{"text":"meaningless","start":8902.71,"end":8903.19},{"text":"commitment.","start":8903.19,"end":8903.75}]},{"text":"Let us commit outright to establishing a platform for borrower countries.","start":8903.99,"end":8908.23,"topics":[],"words":[{"text":"Let","start":8903.99,"end":8904.23},{"text":"us","start":8904.23,"end":8904.39},{"text":"commit","start":8904.39,"end":8904.79},{"text":"outright","start":8904.79,"end":8905.31},{"text":"to","start":8905.31,"end":8905.43},{"text":"establishing","start":8905.43,"end":8906.23},{"text":"a","start":8906.47,"end":8906.63},{"text":"platform","start":8906.63,"end":8907.11},{"text":"for","start":8907.11,"end":8907.27},{"text":"borrower","start":8907.27,"end":8907.63},{"text":"countries.","start":8907.63,"end":8908.23}]},{"text":"There is no one universal platform yet like this.","start":8908.47,"end":8911.59,"topics":[],"words":[{"text":"There","start":8908.47,"end":8908.67},{"text":"is","start":8908.67,"end":8908.87},{"text":"no","start":8908.87,"end":8909.03},{"text":"one","start":8909.03,"end":8909.27},{"text":"universal","start":8909.27,"end":8909.83},{"text":"platform","start":8909.83,"end":8910.55},{"text":"yet","start":8910.55,"end":8910.95},{"text":"like","start":8910.95,"end":8911.19},{"text":"this.","start":8911.19,"end":8911.59}]},{"text":"On 49A and B, on the DSS, We have expressed our consistent reservations on this document, taking credit for outcomes which have already been agreed to in other 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the DSSS cannot be expanded to all developing countries, then let us not pretend this is a new initiative and we suggest taking verbatim agreed language on 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would also request separating 49B from 49A and we asked for the deletion in 49B of the reference to within an existing facility of an international financial 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51A, it needs to be strengthened, but we will submit that in writing, and 50B needs to be more direct, a direct commitment to develop a model law and debt restructuring.","start":8945.75,"end":8956.79,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"On","start":8945.75,"end":8945.91},{"text":"51A,","start":8945.91,"end":8946.95},{"text":"it","start":8946.95,"end":8947.11},{"text":"needs","start":8947.11,"end":8947.31},{"text":"to","start":8947.31,"end":8947.39},{"text":"be","start":8947.39,"end":8947.51},{"text":"strengthened,","start":8947.51,"end":8948.31},{"text":"but","start":8948.31,"end":8948.79},{"text":"we","start":8948.95,"end":8949.19},{"text":"will","start":8949.19,"end":8949.35},{"text":"submit","start":8949.35,"end":8949.63},{"text":"that","start":8949.63,"end":8949.83},{"text":"in","start":8949.83,"end":8949.91},{"text":"writing,","start":8949.91,"end":8950.47},{"text":"and","start":8950.87,"end":8951.19},{"text":"50B","start":8951.19,"end":8952.15},{"text":"needs","start":8952.15,"end":8952.31},{"text":"to","start":8952.31,"end":8952.39},{"text":"be","start":8952.39,"end":8952.55},{"text":"more","start":8952.55,"end":8952.71},{"text":"direct,","start":8952.71,"end":8953.19},{"text":"a","start":8953.27,"end":8953.51},{"text":"direct","start":8953.75,"end":8954.15},{"text":"commitment","start":8954.15,"end":8954.67},{"text":"to","start":8954.67,"end":8954.75},{"text":"develop","start":8954.75,"end":8955.11},{"text":"a","start":8955.11,"end":8955.15},{"text":"model","start":8955.15,"end":8955.59},{"text":"law","start":8955.59,"end":8955.71},{"text":"and","start":8955.71,"end":8955.87},{"text":"debt","start":8955.87,"end":8956.07},{"text":"restructuring.","start":8956.07,"end":8956.79}]},{"text":"However, let us come to the most important point in this entire section.","start":8957.27,"end":8960.47,"topics":[],"words":[{"text":"However,","start":8957.27,"end":8957.67},{"text":"let","start":8957.67,"end":8957.79},{"text":"us","start":8957.79,"end":8957.95},{"text":"come","start":8957.95,"end":8958.15},{"text":"to","start":8958.15,"end":8958.23},{"text":"the","start":8958.23,"end":8958.31},{"text":"most","start":8958.31,"end":8958.59},{"text":"important","start":8958.59,"end":8959.07},{"text":"point","start":8959.07,"end":8959.31},{"text":"in","start":8959.31,"end":8959.43},{"text":"this","start":8959.43,"end":8959.59},{"text":"entire","start":8959.59,"end":8959.91},{"text":"section.","start":8959.91,"end":8960.47}]},{"text":"We believe all the different proposals you have made, co-fax culminate in 50E, an intergovernmental process at the UN where we will all be equal to take forward these different parts of a new sovereign debt architecture.","start":8960.79,"end":8972.91,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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request the deletion of the reference to the IMF debt review.","start":8997.67,"end":9000.79,"topics":[],"words":[{"text":"We","start":8997.67,"end":8997.91},{"text":"request","start":8997.91,"end":8998.27},{"text":"the","start":8998.27,"end":8998.35},{"text":"deletion","start":8998.35,"end":8998.75},{"text":"of","start":8998.75,"end":8998.83},{"text":"the","start":8998.83,"end":8998.95},{"text":"reference","start":8998.95,"end":8999.43},{"text":"to","start":8999.43,"end":8999.67},{"text":"the","start":8999.67,"end":8999.83},{"text":"IMF","start":8999.83,"end":9000.23},{"text":"debt","start":9000.23,"end":9000.39},{"text":"review.","start":9000.39,"end":9000.79}]},{"text":"We do not want to inadvertently approach a repackaging of existing work rather than an actual fresh 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initiatives under the UN and on the other be told that we cannot be prescriptive on how to improve existing frameworks.","start":9008.63,"end":9018.31,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Just before I begin, I'd like to recommend the report and suggestions to our FFD process by the Commission of Experts led by Professor Ocampo, which was launched yesterday during a lunchtime side event.","start":9033.23,"end":9047.55,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"Lenders","start":9136.87,"end":9137.27},{"text":"have","start":9137.27,"end":9137.39},{"text":"responsibility","start":9137.39,"end":9137.95},{"text":"to","start":9137.95,"end":9138.03},{"text":"lend","start":9138.03,"end":9138.47},{"text":"with","start":9138.47,"end":9138.79},{"text":"fair","start":9138.79,"end":9139.35},{"text":"interest","start":9139.67,"end":9140.03},{"text":"rates","start":9140.03,"end":9140.55},{"text":"and","start":9140.71,"end":9140.87},{"text":"conditions","start":9140.87,"end":9141.59},{"text":"in","start":9142.15,"end":9142.31},{"text":"a","start":9142.31,"end":9142.35},{"text":"way","start":9142.35,"end":9142.55},{"text":"that","start":9142.55,"end":9142.71},{"text":"does","start":9142.71,"end":9142.87},{"text":"not","start":9142.87,"end":9143.07},{"text":"undermine","start":9143.07,"end":9143.75},{"text":"a","start":9144.07,"end":9144.11},{"text":"country's","start":9144.11,"end":9144.55},{"text":"debt","start":9144.55,"end":9144.67},{"text":"sustainability.","start":9144.67,"end":9145.51}]},{"text":"Towards the end of that paragraph, we would suggest UN framework convention on sovereign debt should be negotiated and agreed upon by member states through an equitable, inclusive, and transparent process Or we could strengthen the language in para 15e where such a mechanism is mentioned.","start":9146.31,"end":9164.71,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."}],"words":[{"text":"Towards","start":9146.31,"end":9146.59},{"text":"the","start":9146.59,"end":9146.67},{"text":"end","start":9146.87,"end":9147.07},{"text":"of","start":9147.07,"end":9147.15},{"text":"that","start":9147.15,"end":9147.35},{"text":"paragraph,","start":9147.35,"end":9147.99},{"text":"we","start":9147.99,"end":9148.07},{"text":"would","start":9148.07,"end":9148.23},{"text":"suggest","start":9148.23,"end":9148.87},{"text":"UN","start":9149.19,"end":9149.59},{"text":"framework","start":9149.59,"end":9149.95},{"text":"convention","start":9149.95,"end":9150.43},{"text":"on","start":9150.43,"end":9150.55},{"text":"sovereign","start":9150.55,"end":9150.87},{"text":"debt","start":9150.87,"end":9151.35},{"text":"should","start":9152.47,"end":9152.63},{"text":"be","start":9152.63,"end":9152.71},{"text":"negotiated","start":9152.71,"end":9153.27},{"text":"and","start":9153.27,"end":9153.39},{"text":"agreed","start":9153.39,"end":9153.59},{"text":"upon","start":9153.59,"end":9154.07},{"text":"by","start":9154.23,"end":9154.39},{"text":"member","start":9154.39,"end":9154.71},{"text":"states","start":9154.71,"end":9155.11},{"text":"through","start":9155.11,"end":9155.31},{"text":"an","start":9155.31,"end":9155.43},{"text":"equitable,","start":9155.43,"end":9156.31},{"text":"inclusive,","start":9156.63,"end":9157.59},{"text":"and","start":9157.59,"end":9157.83},{"text":"transparent","start":9157.83,"end":9158.35},{"text":"process","start":9158.35,"end":9159.11},{"text":"Or","start":9159.67,"end":9159.79},{"text":"we","start":9159.79,"end":9159.91},{"text":"could","start":9159.91,"end":9160.07},{"text":"strengthen","start":9160.07,"end":9160.43},{"text":"the","start":9160.43,"end":9160.51},{"text":"language","start":9160.51,"end":9161.03},{"text":"in","start":9161.03,"end":9161.19},{"text":"para","start":9161.19,"end":9161.47},{"text":"15e","start":9161.47,"end":9162.55},{"text":"where","start":9162.67,"end":9162.87},{"text":"such","start":9162.87,"end":9163.11},{"text":"a","start":9163.11,"end":9163.19},{"text":"mechanism","start":9163.19,"end":9163.75},{"text":"is","start":9163.75,"end":9163.99},{"text":"mentioned.","start":9163.99,"end":9164.71}]},{"text":"With regards to para 48a, we can support this language with the proposal of the US Secretary General to create a working group.","start":9165.83,"end":9176.31,"topics":[],"words":[{"text":"With","start":9165.83,"end":9166.07},{"text":"regards","start":9166.07,"end":9166.55},{"text":"to","start":9166.55,"end":9166.95},{"text":"para","start":9167.91,"end":9168.23},{"text":"48a,","start":9168.23,"end":9169.51},{"text":"we","start":9170.15,"end":9170.39},{"text":"can","start":9170.39,"end":9170.71},{"text":"support","start":9170.71,"end":9171.83},{"text":"this","start":9171.83,"end":9171.99},{"text":"language","start":9171.99,"end":9172.55},{"text":"with","start":9173.11,"end":9173.23},{"text":"the","start":9173.23,"end":9173.31},{"text":"proposal","start":9173.31,"end":9173.71},{"text":"of","start":9173.71,"end":9173.79},{"text":"the","start":9173.79,"end":9173.91},{"text":"US","start":9173.99,"end":9174.31},{"text":"Secretary","start":9174.47,"end":9174.91},{"text":"General","start":9174.91,"end":9175.35},{"text":"to","start":9175.35,"end":9175.43},{"text":"create","start":9175.43,"end":9175.67},{"text":"a","start":9175.67,"end":9175.71},{"text":"working","start":9175.71,"end":9176.03},{"text":"group.","start":9176.03,"end":9176.31}]},{"text":"With regards to para 49, now this is language that could also go in 38h where we're discussing multilateral development banks, MDBs, and the IFIs to create a proposal to create a yearly SDR emissions to help developing countries to finance a stable development.","start":9177.59,"end":9198.91,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"With","start":9177.59,"end":9177.83},{"text":"regards","start":9177.83,"end":9178.39},{"text":"to","start":9178.39,"end":9178.63},{"text":"para","start":9178.63,"end":9179.27},{"text":"49,","start":9179.99,"end":9180.95},{"text":"now","start":9181.59,"end":9181.71},{"text":"this","start":9182.15,"end":9182.47},{"text":"is","start":9182.47,"end":9182.55},{"text":"language","start":9182.55,"end":9182.87},{"text":"that","start":9182.87,"end":9182.99},{"text":"could","start":9182.99,"end":9183.15},{"text":"also","start":9183.15,"end":9183.47},{"text":"go","start":9183.47,"end":9183.67},{"text":"in","start":9183.67,"end":9183.83},{"text":"38h","start":9183.83,"end":9184.99},{"text":"where","start":9184.99,"end":9185.19},{"text":"we're","start":9185.19,"end":9185.35},{"text":"discussing","start":9185.35,"end":9185.99},{"text":"multilateral","start":9187.07,"end":9187.63},{"text":"development","start":9187.63,"end":9188.31},{"text":"banks,","start":9188.31,"end":9188.71},{"text":"MDBs,","start":9188.71,"end":9189.39},{"text":"and","start":9189.39,"end":9189.79},{"text":"the","start":9189.87,"end":9189.95},{"text":"IFIs","start":9189.95,"end":9190.51},{"text":"to","start":9191.23,"end":9191.51},{"text":"create","start":9191.51,"end":9192.11},{"text":"a","start":9192.27,"end":9192.35},{"text":"proposal","start":9192.35,"end":9192.91},{"text":"to","start":9192.91,"end":9193.07},{"text":"create","start":9193.07,"end":9193.55},{"text":"a","start":9193.63,"end":9193.79},{"text":"yearly","start":9193.79,"end":9194.27},{"text":"SDR","start":9194.27,"end":9194.83},{"text":"emissions","start":9194.83,"end":9195.87},{"text":"to","start":9196.63,"end":9196.71},{"text":"help","start":9196.71,"end":9196.87},{"text":"developing","start":9196.87,"end":9197.27},{"text":"countries","start":9197.27,"end":9197.59},{"text":"to","start":9197.59,"end":9197.67},{"text":"finance","start":9197.67,"end":9198.03},{"text":"a","start":9198.03,"end":9198.07},{"text":"stable","start":9198.07,"end":9198.39},{"text":"development.","start":9198.39,"end":9198.91}]},{"text":"So, it's a proposal for not to have a one-off SDR emissions and then work so much on channel rechanneling, but to have yearly SDR emissions.","start":9198.91,"end":9206.51,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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recognize the People's Republic of China, and then we'll have civil society representative from Red Latino 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Daniela Verdeja on behalf of Latin Debt and Civil Society, FFD Mechanism.","start":9520.63,"end":9525.99,"topics":[],"words":[{"text":"Thank","start":9520.63,"end":9520.83},{"text":"you,","start":9520.83,"end":9520.91},{"text":"Chair.","start":9520.91,"end":9521.23},{"text":"Daniela","start":9521.23,"end":9521.71},{"text":"Verdeja","start":9521.71,"end":9522.07},{"text":"on","start":9522.07,"end":9522.23},{"text":"behalf","start":9522.23,"end":9522.71},{"text":"of","start":9523.03,"end":9523.19},{"text":"Latin","start":9523.19,"end":9523.59},{"text":"Debt","start":9523.59,"end":9523.83},{"text":"and","start":9523.83,"end":9524.07},{"text":"Civil","start":9524.07,"end":9524.31},{"text":"Society,","start":9524.31,"end":9524.95},{"text":"FFD","start":9524.95,"end":9525.43},{"text":"Mechanism.","start":9525.43,"end":9525.99}]},{"text":"The current debt crisis, widely recognized, is not limited to high debt levels, but the servicing burden is crowding out an increasing proportion of public social investment.","start":9526.63,"end":9536.07,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"FFD4","start":9779,"end":9779.88},{"text":"is","start":9779.88,"end":9780.04},{"text":"a","start":9780.04,"end":9780.12},{"text":"critical","start":9780.12,"end":9780.52},{"text":"moment","start":9780.52,"end":9781.04},{"text":"to","start":9781.04,"end":9781.12},{"text":"deliver","start":9781.12,"end":9781.64},{"text":"actionable","start":9781.64,"end":9782.36},{"text":"outcomes","start":9782.36,"end":9783.08},{"text":"on","start":9783.4,"end":9783.56},{"text":"longstanding","start":9783.56,"end":9784.32},{"text":"gender","start":9784.32,"end":9784.76},{"text":"inequalities","start":9784.76,"end":9785.72},{"text":"and","start":9785.72,"end":9785.88},{"text":"systemic","start":9785.88,"end":9786.44},{"text":"issues","start":9786.44,"end":9787},{"text":"including","start":9787.47,"end":9787.95},{"text":"colonial","start":9787.95,"end":9788.67},{"text":"patriarchal","start":9789.07,"end":9789.83},{"text":"legacies","start":9789.83,"end":9790.35},{"text":"embedded","start":9790.35,"end":9790.91},{"text":"in","start":9790.91,"end":9791.23},{"text":"and","start":9791.63,"end":9791.79},{"text":"reproduced","start":9791.79,"end":9792.43},{"text":"by","start":9792.43,"end":9792.59},{"text":"the","start":9792.59,"end":9792.67},{"text":"current","start":9792.67,"end":9793.07},{"text":"international","start":9793.07,"end":9793.79},{"text":"financial","start":9793.79,"end":9794.39},{"text":"architecture","start":9794.39,"end":9795.15},{"text":"that","start":9795.63,"end":9795.79},{"text":"prioritized","start":9795.79,"end":9796.55},{"text":"debt","start":9796.55,"end":9796.75},{"text":"servicing","start":9796.75,"end":9797.47},{"text":"at","start":9797.83,"end":9797.91},{"text":"the","start":9797.91,"end":9798.07},{"text":"expense","start":9798.07,"end":9798.63},{"text":"of","start":9798.63,"end":9798.75},{"text":"the","start":9798.75,"end":9798.83},{"text":"fulfillment","start":9798.83,"end":9799.51},{"text":"of","start":9799.51,"end":9799.63},{"text":"human","start":9799.63,"end":9799.95},{"text":"rights","start":9799.95,"end":9800.43},{"text":"and","start":9800.67,"end":9800.87},{"text":"the","start":9800.87,"end":9800.95},{"text":"achievement","start":9800.95,"end":9801.55},{"text":"of","start":9801.55,"end":9801.71},{"text":"SDGs.","start":9801.71,"end":9802.59}]},{"text":"We cannot retrogress on the CEDAW, a core human rights treaty with almost universal acceptance by member states that mandates providing adequate resources towards protecting and realizing women's rights.","start":9803.07,"end":9815.63,"topics":[],"words":[{"text":"We","start":9803.07,"end":9803.23},{"text":"cannot","start":9803.23,"end":9803.63},{"text":"retrogress","start":9803.63,"end":9804.31},{"text":"on","start":9804.31,"end":9804.43},{"text":"the","start":9804.43,"end":9804.55},{"text":"CEDAW,","start":9804.55,"end":9805.39},{"text":"a","start":9805.39,"end":9805.47},{"text":"core","start":9805.47,"end":9805.87},{"text":"human","start":9805.87,"end":9806.19},{"text":"rights","start":9806.19,"end":9806.51},{"text":"treaty","start":9806.51,"end":9806.91},{"text":"with","start":9806.91,"end":9807.07},{"text":"almost","start":9807.07,"end":9807.55},{"text":"universal","start":9807.55,"end":9808.11},{"text":"acceptance","start":9808.11,"end":9808.75},{"text":"by","start":9808.75,"end":9808.91},{"text":"member","start":9808.91,"end":9809.27},{"text":"states","start":9809.27,"end":9809.79},{"text":"that","start":9810.11,"end":9810.35},{"text":"mandates","start":9810.35,"end":9810.83},{"text":"providing","start":9810.83,"end":9811.63},{"text":"adequate","start":9811.79,"end":9812.27},{"text":"resources","start":9812.27,"end":9812.91},{"text":"towards","start":9812.91,"end":9813.31},{"text":"protecting","start":9813.31,"end":9813.95},{"text":"and","start":9813.95,"end":9814.15},{"text":"realizing","start":9814.15,"end":9814.75},{"text":"women's","start":9814.75,"end":9815.15},{"text":"rights.","start":9815.15,"end":9815.63}]},{"text":"To that end, we strongly reiterate the call to agree on an intergovernmental process for participatory and equitable debt governance and crisis prevention reforms, leading possibly to the adoption of a UN framework convention on sovereign debt.","start":9816.19,"end":9831.31,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"It","start":9844.51,"end":9844.67},{"text":"is","start":9844.67,"end":9844.83},{"text":"concerning","start":9844.83,"end":9845.47},{"text":"that","start":9845.47,"end":9845.63},{"text":"the","start":9845.63,"end":9845.75},{"text":"zero","start":9845.75,"end":9846.07},{"text":"draft","start":9846.07,"end":9846.51},{"text":"hardly","start":9846.51,"end":9846.83},{"text":"mentions","start":9846.83,"end":9847.39},{"text":"the","start":9847.39,"end":9847.47},{"text":"continued","start":9847.47,"end":9848.19},{"text":"and","start":9848.51,"end":9848.75},{"text":"widely","start":9848.75,"end":9849.23},{"text":"documented","start":9849.23,"end":9849.87},{"text":"violation","start":9849.87,"end":9850.51},{"text":"of","start":9850.51,"end":9850.67},{"text":"human","start":9850.67,"end":9850.91},{"text":"rights","start":9850.91,"end":9851.31},{"text":"of","start":9851.31,"end":9851.43},{"text":"women","start":9851.43,"end":9851.71},{"text":"and","start":9851.71,"end":9851.83},{"text":"girls,","start":9851.83,"end":9852.35},{"text":"caused","start":9852.91,"end":9853.31},{"text":"in","start":9853.31,"end":9853.51},{"text":"no","start":9853.51,"end":9853.71},{"text":"small","start":9853.71,"end":9854.11},{"text":"part","start":9854.11,"end":9854.51},{"text":"by","start":9854.83,"end":9855.07},{"text":"burdensome","start":9855.07,"end":9855.79},{"text":"debt","start":9855.79,"end":9856.03},{"text":"servicing,","start":9856.03,"end":9856.75},{"text":"even","start":9857.07,"end":9857.39},{"text":"for","start":9857.39,"end":9857.63},{"text":"unsustainable,","start":9857.63,"end":9859.07},{"text":"illegitimate","start":9859.31,"end":9860.07},{"text":"and","start":9860.07,"end":9860.27},{"text":"odious","start":9860.27,"end":9860.67},{"text":"debts,","start":9860.67,"end":9861.15},{"text":"which","start":9861.39,"end":9861.63},{"text":"gravely","start":9861.63,"end":9862.11},{"text":"restrict","start":9862.11,"end":9862.59},{"text":"the","start":9862.59,"end":9862.71},{"text":"ability","start":9862.71,"end":9863.15},{"text":"of","start":9863.15,"end":9863.31},{"text":"states","start":9863.31,"end":9863.87},{"text":"to","start":9864.19,"end":9864.31},{"text":"fulfill","start":9864.31,"end":9864.91},{"text":"the","start":9864.91,"end":9864.99},{"text":"core","start":9864.99,"end":9865.27},{"text":"responsibility","start":9865.27,"end":9866.19},{"text":"of","start":9866.19,"end":9866.35},{"text":"promoting","start":9866.35,"end":9866.87},{"text":"their","start":9866.87,"end":9866.99},{"text":"people's","start":9866.99,"end":9867.47},{"text":"well-being","start":9867.47,"end":9868.19},{"text":"and","start":9868.51,"end":9868.71},{"text":"fundamental","start":9868.71,"end":9869.39},{"text":"human","start":9869.39,"end":9869.71},{"text":"rights,","start":9869.71,"end":9870.07},{"text":"as","start":9870.07,"end":9870.19},{"text":"pointed","start":9870.19,"end":9870.67},{"text":"out","start":9870.67,"end":9870.83},{"text":"earlier","start":9870.83,"end":9871.23},{"text":"by","start":9871.47,"end":9871.63},{"text":"the","start":9871.63,"end":9871.79},{"text":"distinguished","start":9871.79,"end":9872.43},{"text":"representative","start":9872.43,"end":9873.31},{"text":"from","start":9873.31,"end":9873.55},{"text":"Lebanon.","start":9873.55,"end":9874.19}]},{"text":"Specifically, the debt chapter makes no mention at all of the huge obstacle that debt burdens pose to achieving a better life for women and girls.","start":9874.59,"end":9884.27,"topics":[],"words":[{"text":"Specifically,","start":9874.59,"end":9875.63},{"text":"the","start":9875.63,"end":9875.75},{"text":"debt","start":9875.75,"end":9876.03},{"text":"chapter","start":9876.03,"end":9876.59},{"text":"makes","start":9876.59,"end":9876.91},{"text":"no","start":9876.91,"end":9877.07},{"text":"mention","start":9877.07,"end":9877.51},{"text":"at","start":9877.51,"end":9877.63},{"text":"all","start":9877.63,"end":9877.95},{"text":"of","start":9878.27,"end":9878.43},{"text":"the","start":9878.43,"end":9878.55},{"text":"huge","start":9878.55,"end":9878.91},{"text":"obstacle","start":9878.91,"end":9879.63},{"text":"that","start":9879.63,"end":9879.87},{"text":"debt","start":9879.87,"end":9880.11},{"text":"burdens","start":9880.11,"end":9880.67},{"text":"pose","start":9880.67,"end":9881.23},{"text":"to","start":9881.63,"end":9881.79},{"text":"achieving","start":9881.79,"end":9882.43},{"text":"a","start":9882.43,"end":9882.51},{"text":"better","start":9882.51,"end":9882.83},{"text":"life","start":9882.83,"end":9883.19},{"text":"for","start":9883.19,"end":9883.39},{"text":"women","start":9883.39,"end":9883.67},{"text":"and","start":9883.67,"end":9883.79},{"text":"girls.","start":9883.79,"end":9884.27}]},{"text":"Para 47 should explicitly state that high debt service burdens constrain fiscal space for the realization of gender equality and women's rights, or otherwise risked by its silence and implicit gender bias, disadvantageous to women and girls.","start":9884.75,"end":9902.39,"topics":[],"words":[{"text":"Para","start":9884.75,"end":9885.07},{"text":"47","start":9885.07,"end":9885.95},{"text":"should","start":9885.95,"end":9886.23},{"text":"explicitly","start":9886.23,"end":9887.63},{"text":"state","start":9887.79,"end":9888.19},{"text":"that","start":9888.67,"end":9888.91},{"text":"high","start":9888.91,"end":9889.15},{"text":"debt","start":9889.15,"end":9889.39},{"text":"service","start":9889.39,"end":9889.79},{"text":"burdens","start":9889.79,"end":9890.27},{"text":"constrain","start":9890.27,"end":9890.99},{"text":"fiscal","start":9890.99,"end":9891.39},{"text":"space","start":9891.39,"end":9891.87},{"text":"for","start":9892.19,"end":9892.43},{"text":"the","start":9892.43,"end":9892.51},{"text":"realization","start":9892.51,"end":9893.31},{"text":"of","start":9893.31,"end":9893.39},{"text":"gender","start":9893.39,"end":9893.83},{"text":"equality","start":9893.83,"end":9894.27},{"text":"and","start":9894.27,"end":9894.39},{"text":"women's","start":9894.39,"end":9894.75},{"text":"rights,","start":9894.75,"end":9895.15},{"text":"or","start":9895.39,"end":9895.71},{"text":"otherwise","start":9895.71,"end":9896.43},{"text":"risked","start":9896.87,"end":9897.27},{"text":"by","start":9897.27,"end":9897.51},{"text":"its","start":9897.51,"end":9897.71},{"text":"silence","start":9897.71,"end":9898.31},{"text":"and","start":9898.39,"end":9898.63},{"text":"implicit","start":9898.63,"end":9899.19},{"text":"gender","start":9899.19,"end":9899.63},{"text":"bias,","start":9899.63,"end":9900.15},{"text":"disadvantageous","start":9900.39,"end":9901.43},{"text":"to","start":9901.43,"end":9901.55},{"text":"women","start":9901.55,"end":9901.83},{"text":"and","start":9901.83,"end":9901.95},{"text":"girls.","start":9901.95,"end":9902.39}]},{"text":"On para 49, we note with concern the key roles given to international financial institutions who are themselves implicated in setting austerity loan conditionalities that harm women and exploit their unpaid care labors.","start":9902.95,"end":9917.43,"topics":[],"words":[{"text":"On","start":9902.95,"end":9903.11},{"text":"para","start":9903.11,"end":9903.43},{"text":"49,","start":9903.43,"end":9904.23},{"text":"we","start":9904.47,"end":9904.63},{"text":"note","start":9904.63,"end":9904.87},{"text":"with","start":9904.87,"end":9904.99},{"text":"concern","start":9904.99,"end":9905.51},{"text":"the","start":9905.51,"end":9905.63},{"text":"key","start":9905.63,"end":9905.91},{"text":"roles","start":9905.91,"end":9906.39},{"text":"given","start":9906.39,"end":9906.71},{"text":"to","start":9906.71,"end":9906.83},{"text":"international","start":9906.83,"end":9907.43},{"text":"financial","start":9907.43,"end":9907.99},{"text":"institutions","start":9907.99,"end":9908.79},{"text":"who","start":9909.11,"end":9909.27},{"text":"are","start":9909.27,"end":9909.47},{"text":"themselves","start":9909.47,"end":9910.15},{"text":"implicated","start":9910.15,"end":9910.87},{"text":"in","start":9910.87,"end":9911.03},{"text":"setting","start":9911.03,"end":9911.51},{"text":"austerity","start":9911.91,"end":9912.63},{"text":"loan","start":9912.63,"end":9912.99},{"text":"conditionalities","start":9912.99,"end":9913.87},{"text":"that","start":9913.87,"end":9914.15},{"text":"harm","start":9914.15,"end":9914.55},{"text":"women","start":9914.55,"end":9915.03},{"text":"and","start":9915.27,"end":9915.47},{"text":"exploit","start":9915.47,"end":9915.99},{"text":"their","start":9915.99,"end":9916.19},{"text":"unpaid","start":9916.19,"end":9916.63},{"text":"care","start":9916.63,"end":9916.87},{"text":"labors.","start":9916.87,"end":9917.43}]},{"text":"As the representative from Cuba said, IMF is part of the problem, and we cannot agree more.","start":9917.91,"end":9924.15,"topics":[],"words":[{"text":"As","start":9917.91,"end":9918.11},{"text":"the","start":9918.11,"end":9918.23},{"text":"representative","start":9918.23,"end":9919.03},{"text":"from","start":9919.03,"end":9919.27},{"text":"Cuba","start":9919.27,"end":9919.59},{"text":"said,","start":9919.59,"end":9919.99},{"text":"IMF","start":9920.39,"end":9921.03},{"text":"is","start":9921.03,"end":9921.27},{"text":"part","start":9921.27,"end":9921.63},{"text":"of","start":9921.63,"end":9921.71},{"text":"the","start":9921.71,"end":9921.83},{"text":"problem,","start":9921.83,"end":9922.47},{"text":"and","start":9922.71,"end":9922.91},{"text":"we","start":9922.91,"end":9923.03},{"text":"cannot","start":9923.03,"end":9923.35},{"text":"agree","start":9923.35,"end":9923.75},{"text":"more.","start":9923.75,"end":9924.15}]},{"text":"On para 50, a truly development-oriented international debt 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you very much, facilitator.","start":10003.19,"end":10004.71,"topics":[],"words":[{"text":"Thank","start":10003.19,"end":10003.43},{"text":"you","start":10003.43,"end":10003.51},{"text":"very","start":10003.51,"end":10003.71},{"text":"much,","start":10003.75,"end":10003.99},{"text":"facilitator.","start":10003.99,"end":10004.71}]},{"text":"I am Jason Ruganza representing the African Forum and Network on Debt and Development and the Civil Society Financing for Development 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the road to SIVIA is not just about agreeing an outcome document on debt.","start":10011.91,"end":10016.71,"topics":[],"words":[{"text":"Facilitator,","start":10011.91,"end":10012.55},{"text":"the","start":10012.55,"end":10012.63},{"text":"road","start":10012.63,"end":10012.79},{"text":"to","start":10012.79,"end":10012.91},{"text":"SIVIA","start":10012.91,"end":10013.35},{"text":"is","start":10013.35,"end":10013.51},{"text":"not","start":10013.51,"end":10013.71},{"text":"just","start":10013.71,"end":10013.91},{"text":"about","start":10013.91,"end":10014.23},{"text":"agreeing","start":10014.23,"end":10014.59},{"text":"an","start":10014.59,"end":10014.71},{"text":"outcome","start":10014.71,"end":10015.27},{"text":"document","start":10015.67,"end":10016.15},{"text":"on","start":10016.15,"end":10016.31},{"text":"debt.","start":10016.31,"end":10016.71}]},{"text":"It is about safeguarding the future lives that are at present being mortgaged due to the diversion of critical financial resources to prop up a creditor centric debt architecture.","start":10017.27,"end":10026.23,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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NGOs.","start":10251.35,"end":10261.51,"topics":[],"words":[{"text":"My","start":10251.35,"end":10251.51},{"text":"name","start":10251.51,"end":10251.75},{"text":"is","start":10251.75,"end":10251.91},{"text":"Janet","start":10251.91,"end":10252.23},{"text":"Palafox,","start":10252.23,"end":10252.83},{"text":"and","start":10252.83,"end":10252.95},{"text":"I'm","start":10252.95,"end":10253.19},{"text":"speaking","start":10253.19,"end":10253.55},{"text":"on","start":10253.55,"end":10253.67},{"text":"behalf","start":10253.67,"end":10254.15},{"text":"of","start":10254.15,"end":10254.27},{"text":"the","start":10254.27,"end":10254.39},{"text":"PIC","start":10254.39,"end":10254.71},{"text":"Institute","start":10254.71,"end":10255.35},{"text":"and","start":10255.43,"end":10255.55},{"text":"the","start":10255.55,"end":10255.63},{"text":"NGO","start":10255.63,"end":10256.07},{"text":"Committee","start":10256.07,"end":10256.59},{"text":"on","start":10256.59,"end":10256.71},{"text":"the","start":10256.71,"end":10256.83},{"text":"Financing","start":10256.83,"end":10257.43},{"text":"for","start":10257.43,"end":10257.55},{"text":"Development,","start":10257.55,"end":10258.15},{"text":"a","start":10258.47,"end":10258.51},{"text":"substantive","start":10258.51,"end":10259.27},{"text":"committee","start":10259.27,"end":10259.83},{"text":"of","start":10259.83,"end":10259.99},{"text":"the","start":10259.99,"end":10260.07},{"text":"Conference","start":10260.07,"end":10260.59},{"text":"of","start":10260.59,"end":10260.71},{"text":"NGOs.","start":10260.71,"end":10261.51}]},{"text":"The zero draft recognizes the growing debt crisis, but it does not go far enough in addressing how climate change is making debt unsustainable for many countries.","start":10262.07,"end":10272.63,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"The","start":10262.07,"end":10262.23},{"text":"zero","start":10262.23,"end":10262.63},{"text":"draft","start":10262.63,"end":10263.19},{"text":"recognizes","start":10263.19,"end":10263.95},{"text":"the","start":10263.95,"end":10264.07},{"text":"growing","start":10264.07,"end":10264.47},{"text":"debt","start":10264.47,"end":10264.71},{"text":"crisis,","start":10264.71,"end":10265.43},{"text":"but","start":10265.67,"end":10265.83},{"text":"it","start":10265.83,"end":10266.07},{"text":"does","start":10266.07,"end":10266.39},{"text":"not","start":10266.39,"end":10266.63},{"text":"go","start":10266.63,"end":10266.87},{"text":"far","start":10266.87,"end":10267.15},{"text":"enough","start":10267.15,"end":10267.51},{"text":"in","start":10267.51,"end":10267.67},{"text":"addressing","start":10267.67,"end":10268.15},{"text":"how","start":10268.15,"end":10268.31},{"text":"climate","start":10268.31,"end":10268.87},{"text":"change","start":10268.87,"end":10269.35},{"text":"is","start":10269.59,"end":10269.83},{"text":"making","start":10269.83,"end":10270.15},{"text":"debt","start":10270.15,"end":10270.63},{"text":"unsustainable","start":10270.63,"end":10271.51},{"text":"for","start":10271.51,"end":10271.67},{"text":"many","start":10271.67,"end":10271.91},{"text":"countries.","start":10271.91,"end":10272.63}]},{"text":"Nations facing repeated climate disasters are forced to borrow to rebuild, creating a cycle where they must pay for crises they did not cause.","start":10273.19,"end":10283.35,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Nations","start":10273.19,"end":10273.83},{"text":"facing","start":10273.83,"end":10274.23},{"text":"repeated","start":10274.23,"end":10274.87},{"text":"climate","start":10274.87,"end":10275.27},{"text":"disasters","start":10275.27,"end":10276.07},{"text":"are","start":10276.07,"end":10276.23},{"text":"forced","start":10276.23,"end":10276.67},{"text":"to","start":10276.67,"end":10276.79},{"text":"borrow","start":10276.79,"end":10277.35},{"text":"to","start":10277.51,"end":10277.67},{"text":"rebuild,","start":10277.67,"end":10278.31},{"text":"creating","start":10278.55,"end":10279.07},{"text":"a","start":10279.07,"end":10279.11},{"text":"cycle","start":10279.11,"end":10279.75},{"text":"where","start":10279.83,"end":10280.15},{"text":"they","start":10280.15,"end":10280.39},{"text":"must","start":10280.39,"end":10280.75},{"text":"pay","start":10280.75,"end":10281.11},{"text":"for","start":10281.11,"end":10281.27},{"text":"crises","start":10281.27,"end":10281.99},{"text":"they","start":10281.99,"end":10282.15},{"text":"did","start":10282.15,"end":10282.39},{"text":"not","start":10282.39,"end":10282.71},{"text":"cause.","start":10282.71,"end":10283.35}]},{"text":"Debt and climate justice cannot be separated.","start":10283.91,"end":10286.71,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Debt","start":10283.91,"end":10284.31},{"text":"and","start":10284.31,"end":10284.47},{"text":"climate","start":10284.47,"end":10284.87},{"text":"justice","start":10284.87,"end":10285.51},{"text":"cannot","start":10285.51,"end":10285.79},{"text":"be","start":10285.79,"end":10285.91},{"text":"separated.","start":10285.91,"end":10286.71}]},{"text":"We propose the following recommendations.","start":10287.19,"end":10289.67,"topics":[],"words":[{"text":"We","start":10287.19,"end":10287.35},{"text":"propose","start":10287.35,"end":10287.91},{"text":"the","start":10287.91,"end":10287.99},{"text":"following","start":10287.99,"end":10288.55},{"text":"recommendations.","start":10288.55,"end":10289.67}]},{"text":"Paragraph 47 highlights borrowing as a tool for sustainable development, but does not acknowledge how climate change makes it harder for countries to recover from disasters while still repaying debt.","start":10290.11,"end":10303.55,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"We","start":10303.95,"end":10304.11},{"text":"propose","start":10304.11,"end":10304.75},{"text":"adding","start":10304.75,"end":10305.23},{"text":"debt","start":10305.47,"end":10305.79},{"text":"sustainability","start":10305.79,"end":10306.83},{"text":"assessments","start":10306.83,"end":10307.63},{"text":"must","start":10307.87,"end":10308.07},{"text":"consider","start":10308.07,"end":10308.67},{"text":"the","start":10308.67,"end":10308.75},{"text":"increasing","start":10308.75,"end":10309.39},{"text":"financial","start":10309.39,"end":10309.99},{"text":"strain","start":10309.99,"end":10310.51},{"text":"caused","start":10310.75,"end":10311.19},{"text":"by","start":10311.19,"end":10311.39},{"text":"climate","start":10311.39,"end":10311.79},{"text":"disasters.","start":10311.79,"end":10312.59}]},{"text":"When a climate crisis hits a country, its priority should be rebuilding and protecting its people, not diverting funds to debt repayment.","start":10312.75,"end":10321.55,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"When","start":10312.75,"end":10312.99},{"text":"a","start":10312.99,"end":10313.03},{"text":"climate","start":10313.03,"end":10313.47},{"text":"crisis","start":10313.47,"end":10314.03},{"text":"hits","start":10314.03,"end":10314.27},{"text":"a","start":10314.27,"end":10314.35},{"text":"country,","start":10314.35,"end":10314.91},{"text":"its","start":10315.15,"end":10315.39},{"text":"priority","start":10315.39,"end":10316.19},{"text":"should","start":10316.19,"end":10316.43},{"text":"be","start":10316.43,"end":10316.59},{"text":"rebuilding","start":10316.59,"end":10317.23},{"text":"and","start":10317.23,"end":10317.39},{"text":"protecting","start":10317.39,"end":10317.95},{"text":"its","start":10317.95,"end":10318.11},{"text":"people,","start":10318.11,"end":10318.59},{"text":"not","start":10318.91,"end":10319.27},{"text":"diverting","start":10319.27,"end":10319.87},{"text":"funds","start":10319.87,"end":10320.43},{"text":"to","start":10320.43,"end":10320.55},{"text":"debt","start":10320.55,"end":10320.91},{"text":"repayment.","start":10320.91,"end":10321.55}]},{"text":"We call for automatic debt relief after major climate disasters so that resources can be directed towards recovery, resilience and future preparedness.","start":10321.79,"end":10332.59,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"We","start":10321.79,"end":10322.03},{"text":"call","start":10322.03,"end":10322.31},{"text":"for","start":10322.31,"end":10322.51},{"text":"automatic","start":10322.51,"end":10323.11},{"text":"debt","start":10323.11,"end":10323.47},{"text":"relief","start":10323.47,"end":10323.95},{"text":"after","start":10324.03,"end":10324.43},{"text":"major","start":10324.43,"end":10324.75},{"text":"climate","start":10324.75,"end":10325.31},{"text":"disasters","start":10326.47,"end":10327.23},{"text":"so","start":10327.47,"end":10327.67},{"text":"that","start":10327.67,"end":10327.87},{"text":"resources","start":10327.87,"end":10328.51},{"text":"can","start":10328.51,"end":10328.67},{"text":"be","start":10328.67,"end":10328.83},{"text":"directed","start":10328.83,"end":10329.47},{"text":"towards","start":10329.55,"end":10329.95},{"text":"recovery,","start":10329.95,"end":10330.59},{"text":"resilience","start":10330.59,"end":10331.23},{"text":"and","start":10331.23,"end":10331.39},{"text":"future","start":10331.39,"end":10331.79},{"text":"preparedness.","start":10331.79,"end":10332.59}]},{"text":"Para 48D introduces state contingent clauses but does not address how climate vulnerability should be factored into debt agreements before disaster occurs.","start":10332.91,"end":10343.23,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."}],"words":[{"text":"Para","start":10332.91,"end":10333.23},{"text":"48D","start":10333.23,"end":10334.19},{"text":"introduces","start":10334.19,"end":10334.79},{"text":"state","start":10334.79,"end":10335.19},{"text":"contingent","start":10335.19,"end":10335.79},{"text":"clauses","start":10335.79,"end":10336.27},{"text":"but","start":10336.27,"end":10336.47},{"text":"does","start":10336.47,"end":10336.67},{"text":"not","start":10336.67,"end":10336.95},{"text":"address","start":10336.95,"end":10337.47},{"text":"how","start":10337.63,"end":10337.79},{"text":"climate","start":10337.79,"end":10338.27},{"text":"vulnerability","start":10338.27,"end":10339.07},{"text":"should","start":10339.07,"end":10339.31},{"text":"be","start":10339.31,"end":10339.47},{"text":"factored","start":10339.47,"end":10340.11},{"text":"into","start":10340.11,"end":10340.35},{"text":"debt","start":10340.35,"end":10340.59},{"text":"agreements","start":10340.59,"end":10341.23},{"text":"before","start":10341.47,"end":10341.87},{"text":"disaster","start":10341.87,"end":10342.59},{"text":"occurs.","start":10342.59,"end":10343.23}]},{"text":"We propose adding climate vulnerability assessments must be built into debt agreements to ensure the high risk countries have access to lower borrowing costs and longer repayment terms.","start":10343.55,"end":10354.51,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."}],"words":[{"text":"Financial","start":10354.67,"end":10355.27},{"text":"institutions","start":10355.27,"end":10356.03},{"text":"must","start":10356.03,"end":10356.27},{"text":"not","start":10356.27,"end":10356.39},{"text":"penalize","start":10356.39,"end":10357.15},{"text":"climate","start":10357.15,"end":10357.63},{"text":"vulnerable","start":10357.63,"end":10358.35},{"text":"nations","start":10358.51,"end":10359.07},{"text":"with","start":10359.07,"end":10359.23},{"text":"higher","start":10359.23,"end":10359.63},{"text":"interest","start":10359.63,"end":10360.03},{"text":"rates,","start":10360.03,"end":10360.43},{"text":"as","start":10360.67,"end":10360.91},{"text":"this","start":10360.91,"end":10361.15},{"text":"increases","start":10361.15,"end":10361.79},{"text":"debt","start":10361.79,"end":10362.03},{"text":"burdens","start":10362.03,"end":10362.75},{"text":"for","start":10362.83,"end":10363.07},{"text":"countries","start":10363.07,"end":10363.63},{"text":"already","start":10363.63,"end":10364.19},{"text":"struggling","start":10364.19,"end":10364.75},{"text":"with","start":10364.75,"end":10364.87},{"text":"climate","start":10364.91,"end":10365.31},{"text":"risk.","start":10365.31,"end":10365.71}]},{"text":"Regarding para 49, while liquidity support tools are necessary, they must not replicate the structural deficiencies of past debt relief mechanisms.","start":10366.15,"end":10376.55,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."}],"words":[{"text":"Regarding","start":10366.15,"end":10366.71},{"text":"para","start":10366.71,"end":10367.03},{"text":"49,","start":10367.03,"end":10367.83},{"text":"while","start":10367.83,"end":10368.23},{"text":"liquidity","start":10368.47,"end":10369.27},{"text":"support","start":10369.27,"end":10369.95},{"text":"tools","start":10369.95,"end":10370.31},{"text":"are","start":10370.31,"end":10370.39},{"text":"necessary,","start":10370.39,"end":10371.19},{"text":"they","start":10371.43,"end":10371.63},{"text":"must","start":10371.63,"end":10371.83},{"text":"not","start":10371.83,"end":10372.07},{"text":"replicate","start":10372.07,"end":10372.75},{"text":"the","start":10372.75,"end":10372.91},{"text":"structural","start":10372.91,"end":10373.51},{"text":"deficiencies","start":10373.51,"end":10374.39},{"text":"of","start":10374.39,"end":10374.55},{"text":"past","start":10374.55,"end":10375.03},{"text":"debt","start":10375.03,"end":10375.35},{"text":"relief","start":10375.35,"end":10375.75},{"text":"mechanisms.","start":10375.75,"end":10376.55}]},{"text":"We propose adding liquidity support must not come with austerity-based conditionalities that undermine social spending.","start":10376.87,"end":10385.43,"topics":[{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. 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is not a just financial issue, but a matter of equity, justice, and human rights.","start":10461.15,"end":10467.23,"topics":[],"words":[{"text":"This","start":10461.15,"end":10461.47},{"text":"is","start":10461.47,"end":10461.63},{"text":"not","start":10461.63,"end":10461.79},{"text":"a","start":10461.87,"end":10462.03},{"text":"just","start":10462.03,"end":10462.43},{"text":"financial","start":10462.43,"end":10462.99},{"text":"issue,","start":10462.99,"end":10463.47},{"text":"but","start":10463.63,"end":10463.87},{"text":"a","start":10463.87,"end":10463.95},{"text":"matter","start":10463.95,"end":10464.55},{"text":"of","start":10464.55,"end":10464.75},{"text":"equity,","start":10464.75,"end":10465.39},{"text":"justice,","start":10465.47,"end":10466.19},{"text":"and","start":10466.19,"end":10466.35},{"text":"human","start":10466.35,"end":10466.67},{"text":"rights.","start":10466.67,"end":10467.23}]},{"text":"Thank 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Thank you, Mr. Facilitator.","start":10497.47,"end":10501.55,"topics":[],"words":[{"text":"Thank","start":10497.47,"end":10497.71},{"text":"you.","start":10497.71,"end":10497.87},{"text":"Thank","start":10500.11,"end":10500.31},{"text":"you,","start":10500.31,"end":10500.43},{"text":"Mr.","start":10500.43,"end":10500.75},{"text":"Facilitator.","start":10500.75,"end":10501.55}]},{"text":"Liberia welcomes the opportunity to contribute and comment on the draft of the outcome document of the Fourth International Conference on Financing for Development.","start":10501.63,"end":10511.39,"topics":[],"words":[{"text":"Liberia","start":10501.63,"end":10502.11},{"text":"welcomes","start":10502.11,"end":10502.71},{"text":"the","start":10502.71,"end":10502.83},{"text":"opportunity","start":10502.83,"end":10503.55},{"text":"to","start":10503.55,"end":10503.71},{"text":"contribute","start":10503.71,"end":10504.51},{"text":"and","start":10504.83,"end":10504.99},{"text":"comment","start":10504.99,"end":10505.43},{"text":"on","start":10505.43,"end":10505.55},{"text":"the","start":10505.55,"end":10505.63},{"text":"draft","start":10505.63,"end":10506.19},{"text":"of","start":10506.19,"end":10506.31},{"text":"the","start":10506.31,"end":10506.55},{"text":"outcome","start":10506.55,"end":10506.83},{"text":"document","start":10506.83,"end":10507.43},{"text":"of","start":10507.43,"end":10507.55},{"text":"the","start":10507.55,"end":10507.63},{"text":"Fourth","start":10507.63,"end":10507.95},{"text":"International","start":10507.95,"end":10508.63},{"text":"Conference","start":10508.63,"end":10509.23},{"text":"on","start":10509.63,"end":10509.79},{"text":"Financing","start":10509.79,"end":10510.43},{"text":"for","start":10510.43,"end":10510.59},{"text":"Development.","start":10510.59,"end":10511.39}]},{"text":"Liberia, like many developing nations, remains vulnerable to an unequal global financial system that limits access to affordable financing and fair representation.","start":10511.95,"end":10523.71,"topics":[],"words":[{"text":"Liberia,","start":10511.95,"end":10512.43},{"text":"like","start":10512.43,"end":10512.67},{"text":"many","start":10512.67,"end":10512.91},{"text":"developing","start":10512.91,"end":10513.27},{"text":"nations,","start":10513.27,"end":10513.83},{"text":"remains","start":10514.99,"end":10515.47},{"text":"vulnerable","start":10515.47,"end":10516.03},{"text":"to","start":10516.03,"end":10516.23},{"text":"an","start":10516.23,"end":10516.43},{"text":"unequal","start":10516.43,"end":10516.99},{"text":"global","start":10516.99,"end":10517.35},{"text":"financial","start":10517.35,"end":10517.91},{"text":"system","start":10517.91,"end":10518.59},{"text":"that","start":10518.91,"end":10519.07},{"text":"limits","start":10519.11,"end":10519.55},{"text":"access","start":10519.55,"end":10520.03},{"text":"to","start":10520.03,"end":10520.27},{"text":"affordable","start":10520.51,"end":10521.07},{"text":"financing","start":10521.07,"end":10521.95},{"text":"and","start":10522.19,"end":10522.35},{"text":"fair","start":10522.35,"end":10522.71},{"text":"representation.","start":10522.71,"end":10523.71}]},{"text":"While global economy shapes how exacerbated our financial challenges, the structure governing international finance has remained largely unchanged.","start":10524.19,"end":10533.83,"topics":[{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. 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thank you.","start":11114.35,"end":11114.99,"topics":[],"words":[{"text":"I","start":11114.35,"end":11114.51},{"text":"thank","start":11114.51,"end":11114.91},{"text":"you.","start":11114.91,"end":11114.99}]}]}],"speaker":{"name":null,"affiliation":"TZA","affiliation_full":"United Republic of Tanzania","group":null,"function":"Representative"}},{"statement_number":113,"start":11116.27,"pageUrl":"/es/asset/k15/k15oucg2qs?lang=en&t=11117","paragraphs":[{"sentences":[{"text":"I thank the representative of the United Republic of 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be specific, we'll be looking at paragraphs 52 to 57.","start":11138.71,"end":11142.95,"topics":[],"words":[{"text":"To","start":11138.71,"end":11138.83},{"text":"be","start":11138.83,"end":11138.95},{"text":"specific,","start":11138.95,"end":11139.51},{"text":"we'll","start":11139.51,"end":11139.75},{"text":"be","start":11139.75,"end":11139.83},{"text":"looking","start":11139.83,"end":11140.15},{"text":"at","start":11140.15,"end":11140.31},{"text":"paragraphs","start":11140.31,"end":11140.95},{"text":"52","start":11140.95,"end":11141.75},{"text":"to","start":11142.07,"end":11142.19},{"text":"57.","start":11142.23,"end":11142.95}]},{"text":"Paragraphs 52 to 57 will be our 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to remind delegates that please send in your written comments, do not hold them until the end of the 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want to look at them as soon as possible.","start":11161.79,"end":11163.47,"topics":[],"words":[{"text":"We","start":11161.79,"end":11161.91},{"text":"want","start":11161.91,"end":11162.11},{"text":"to","start":11162.11,"end":11162.19},{"text":"look","start":11162.19,"end":11162.35},{"text":"at","start":11162.35,"end":11162.43},{"text":"them","start":11162.43,"end":11162.63},{"text":"as","start":11162.63,"end":11162.71},{"text":"soon","start":11162.71,"end":11162.91},{"text":"as","start":11162.91,"end":11162.99},{"text":"possible.","start":11162.99,"end":11163.47}]},{"text":"I thank you for your participation and this meeting stands adjourned.","start":11163.95,"end":11166.71,"topics":[],"words":[{"text":"I","start":11163.95,"end":11164.11},{"text":"thank","start":11164.11,"end":11164.31},{"text":"you","start":11164.31,"end":11164.39},{"text":"for","start":11164.39,"end":11164.51},{"text":"your","start":11164.51,"end":11164.63},{"text":"participation","start":11164.63,"end":11165.39},{"text":"and","start":11165.47,"end":11165.63},{"text":"this","start":11165.63,"end":11165.79},{"text":"meeting","start":11165.79,"end":11166.07},{"text":"stands","start":11166.07,"end":11166.39},{"text":"adjourned.","start":11166.39,"end":11166.71}]}]}],"speaker":{"name":"Chola","affiliation":null,"affiliation_full":null,"group":null,"function":"Co-Facilitator"}}],"topics":[{"key":"credit-ratings","label":"Credit Ratings and Debt Sustainability Assessments","description":"Multiple interventions focused on how debt sustainability assessments and sovereign credit ratings affect borrowing costs and access to finance. Speakers called for methodologies that better reflect climate and nature risks, development spending needs, and vulnerability, while others stressed the independence of rating agencies and cautioned against overprescriptive reforms."},{"key":"critical-minerals","label":"Critical Minerals and Resource Governance","description":"A recurring topic was how developing countries can use critical minerals and other natural resources to support sustainable development through domestic value addition, industrial policy, and better contracts. Speakers also raised concerns about environmental harm, community impacts, traceability frameworks, and the need to preserve national sovereignty and policy space."},{"key":"debt-relief-tools","label":"Debt Relief and Liquidity Instruments","description":"Speakers discussed practical tools to ease debt pressures, including debt service suspension, state-contingent or climate-resilient debt clauses, local-currency lending, debt swaps, SDR rechanneling, and concessional finance. The debate centered on how ambitious these tools should be, who should qualify, and whether they should be standardized or voluntary."},{"key":"debt-transparency","label":"Responsible Lending, Borrowing, and Debt Transparency","description":"Delegations repeatedly addressed the balance of responsibility between borrowers and creditors, arguing over language on prudent borrowing and the need to recognize external shocks. Many also supported stronger transparency, better debt data, clearer principles or guidelines for sovereign lending and borrowing, and improved public oversight of debt."},{"key":"trade-policy-space","label":"Policy Space in Trade and Investment Agreements","description":"Several speakers stressed that developing countries need greater policy flexibility in trade and investment agreements to respond to crises, pursue industrialization, protect food security, and regulate in the public interest. This included calls to reform or reconsider investor-State dispute settlement and outdated investment treaties."},{"key":"market-access-subsidies","label":"Market Access, Subsidies, and Special Treatment","description":"Many statements focused on barriers that prevent developing countries from benefiting from trade, including agricultural subsidies, tariff barriers, technical standards, and unequal market access. Speakers also highlighted special and differential treatment, support for LDCs, export diversification, and value addition in developing economies."},{"key":"debt-architecture-reform","label":"Debt Architecture Reform","description":"A major area of debate was whether the current global debt system is fit for purpose and how far reform should go. Many speakers called for changes to the G20 Common Framework and broader sovereign debt mechanisms under the UN, while others preferred improving existing IMF, World Bank, and G20 processes rather than creating new structures."},{"key":"multilateral-trade-system","label":"Multilateral Trading System and WTO Reform","description":"Delegations debated how to strengthen the rules-based multilateral trading system, especially through the WTO, including implementation of existing agreements, dispute settlement, accessions, and the institutional balance between the WTO, UNCTAD, the General Assembly, and other UN bodies."},{"key":"trade-environment-measures","label":"Trade-Related Environmental Measures","description":"Delegations discussed the growing use of environmental trade measures, including carbon-related measures, and their effects on development. Speakers emphasized the need for transparency, simplification, consistency with common but differentiated responsibilities, and safeguards so such measures do not become unilateral or unfair trade barriers."}]}}