“It would be tragic if the Special Drawing Rights swelled the reserves of countries that do not need them.” | Alberto Fernandez asked at the conclusion of the G20 Summit

This was stated by President Alberto Fernandez “From the End of the World” “Real development financing is needed, without the local complicity of those fleeing to tax havens”, And Called for effective management of special drawing rights (SDRs). The head of state has already maintained Meeting with the President of the International Monetary Fund (IMF)Kristalina Georgieva.

During the 3rd Plenary Session of the G20 Leaders Summit in Rome, the President made this statement “The 2030 Agenda for Sustainable Development in Intensive Care” Because “well-being gaps are in danger of becoming a catastrophic fracture” and the “epidemic has increased” these differences “particularly in Latin America and the Caribbean.”

Without building a new international financial model, none of these challenges will be overcome.The President, who was accompanied in the plenary session by the Ministers of Foreign Relations, International Trade and Worship, Santiago Cafiero, and the Economy, Martin Guzman, and the Argentine Ambassador to the United States, Jorge Arguelo.

“I appeal to all countries so that this opportunity to direct the SDR to achieve sustainable development is not lost due to bureaucratic obstacles or comfort for him the current situation. It would be tragic if the SDR swells the reserves of countries that don’t need it, while further underdeveloping countries that need financing like water.Fernandez said in his speech.

As the President explained, “In the case of Latin America and the Caribbean, directing SDRs to the Regional Development Bank is essential, as they can leverage and benefit from it, give counter-cyclical guarantees, and encourage private investment.”

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What is more, Fernandez called for “a reformulation of the credit rating system, so that the environmental dimension does not penalize developing countries.increasing the cost of sovereign debt and interest payments.

He noted that the second goal of the Sustainable Development Goals (SDG2) calls for “end hunger, achieve food security, improve nutrition and promote sustainable agriculture,” and stated that “Argentina claims to put an end to agricultural policies that are particularly harmful to developing countries.”

“We must send from the G-20 a political message about the importance of advancing these long-running negotiations in the World Trade Organization (WTO), and concluding this agreement without delay, before its next ministerial conference,” the president said.

“It is time to build bridges of brotherhood and leave behind the walls of selfishness,” he concluded in his final presentation at the meeting at the La Nuvola Convention Center.

Freddie Dawson

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