UNDP: With rising financial vulnerability, U.N. Development Chief calls on G20 to reduce risks and curb inequality
“Addressing the G20 finance ministers meeting in Buenos Aires, U.N. Development Programme (UNDP) Administrator Achim Steiner acknowledged the improved momentum for the global economy, but stressed that the risks since the group’s last meeting four months ago had become more pronounced. … The UNDP chief warned that the debt risks have risen rapidly in many developing countries in recent months, making them particularly vulnerable to potential financial shocks. In recognizing the special role of G20 nations, he invited finance ministers to work together to strengthen multilateral action to mitigate risks and create an enabling environment … The timely realization of the 2030 Agenda and the Sustainable Development Goals remain important reference points for the impact of G20 decisions — both on and beyond their own economies — including through appropriate international cooperation and lending policies which can boost resilience to future shocks” (7/23).