“Inequality. Starvation. Poor. Weak infrastructure. Competition for resources is increasingly exhausted. Security and Conflict,” Secretary General António Guterres build in his statement to the fifth LDC (LDC5) Conference at the General Assembly.
“The hopes, dreams, lives and livelihoods of 1/8 of humanity remain between the pages of Doha’s Action Program (DPoA),” he added, focusing on the “pathways” it offers to help restore LDC in the short term, achieving the Sustainable Development Goals (SDGs).SDG) in the medium term and “develop and prosper” in the long term.
Remaking the global financial system
Developing countries need to invest in areas of poverty reduction and resilience, such as job creation, social protection, food security, universal health care, quality education and digital connectivity, said top UN official.
However, he added that the LDCs are fighting a “moral bankruptcy of the global financial system”, designed by the rich and powerful to benefit themselves, only perpetuating inequality, rather than promoting development.
“This must change,” the UN chief asserted, noting that LDCs demanded “urgent debt forgiveness, restructuring and cancellation, in some cases.”
They will be able to borrow at a low cost, be protected in times of crisis and receive more liquidity, he said.
And we need to create a tax system that is fair and combats illicit financial flows to reinvest large amounts of global wealth in the people and countries that need it most. .
Most of LDC’s economic growth has been linked to natural resources or mining sectors that are highly volatile in the short term and vulnerable to volatile commodity prices, markets, Mr. Guterres explained. anomalies and impacts of climate change.
Furthermore, they are constrained by poor worker education and training opportunities, weak physical infrastructure, and lack of access to productivity-enhancing technology – all of which make COVID a major problem. much worse.
The head of the UN affirmed: “LDCs need to support structural transformation – now”. “They need support to increase their participation in global value chains – now.”
This means investing in a healthy, educated and skilled workforce to drive economic growth; modernization of infrastructure and transport networks; transforming mining sectors and creating greener jobs; and promote “open and fair trade rules, so that all countries can compete on a level playing field,” he stated.
Although they do not cause the climate crisis, LDCs are living with its worst impacts.
The Secretary-General cited the latest Intergovernmental Panel on Climate Change (IPCC) reports that the death toll from floods, droughts and storms has been 15 times higher in the most vulnerable countries and regions.
“In vulnerable regions of the globe – home to 3.6 billion people – more than 100 climate risks will become more severe. Some will be irreversible,” he said.
Make promises come true
LDCs need “a strong technical and financial boost” for the new transition to renewable energy and green jobs and to “build resilience to the impacts that are coming to the fore them,” continued Mr Guterres, urging development banks to urgently work with the Government to “design and deliver bankable projects”.
“We need to see 50% of climate finance going to adaptation and qualifying systems reformed to make it accessible to vulnerable countries,” he argues. “And developed countries must deliver on their $100 billion climate financing pledge to developing countries this year.”
“Promises must come true.”
Peace and security
The world today faces the highest number of violent conflicts since 1945 – with the LDC representing “the vast majority of these hotspots”, the UN chief pointed out.
“Peace and security cannot be maintained without development. He also explained that development also cannot exist without peace and security.
Nor can it exist in countries where historical injustice, inequality and systemic oppression are perpetuated, or where basic services such as health, education, security and justice are lacking.
“My proposed New Agenda for Peace calls on the global community to work together as a… to address the roots of violent conflicts by investing in development” and includes a New social contract universal health coverage; Social Protection; Education and training; and inclusive justice systems and institutions that are accessible to all, said the top UN official.
And across these lifelines and the entire DPoA, he pledged that LDCs could count on “the total commitment of the entire UN system.”
“We are proud to be on this journey with all of you as we place the needs of Least Developed Countries where they belong,” he said.
“First in our plan. First in our investments. And always be first in our actions. ”
LDC5 is being organized in two parts: The first at UNHQ in New York on 17 March 2022, at which adoption of the Doha Action Agenda will be reviewed.
The second part will be held in Doha from 5-9 March 2023, where world leaders will gather with civil society, private sector, youth and more to build new plans and partnerships to implement DPoA over the next decade.
© World Bank / Dominic Chavez