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