Latest news with #AfricanGroup
Saudi Gazette
a day ago
- Business
- Saudi Gazette
US skips global UN meeting in Spain aimed at raising trillions to combat poverty
SEVILLE — Many of the world's countries gathered in Spain on Monday, with the notable exception of the United States, in a bid to tackle the growing gap between rich and poor nations and try to drum up trillions of dollars needed to close it. "Financing is the engine of development. And right now, this engine is sputtering," United Nations Secretary General Antonio Guterres said in his opening comments at the four-day Financing for Development meeting in Seville. Many countries face escalating debt burdens, declining investments, decreasing international aid and growing trade barriers. Co-hosts the UN and Spain believe the four-day meeting is an opportunity to close the staggering $4 trillion (€3.4 trillion) annual financing gap to promote development, bring millions of people out of poverty and help achieve the UN's badly lagging Sustainable Development Goals for 2030. Even though the gathering comes amid global economic uncertainty and geopolitical tensions, there is hope that the world can address one of the most important global challenges: ensuring all people have access to food, healthcare, education and water. More than 70 world leaders attended, the UN said, along with representatives of international financial institutions, development banks, philanthropic organisations, the private sector and civil society. Spanish Prime Minister Pedro Sánchez told the delegates that the summit is an opportunity "for us to raise our voice in the face of those who seek to convince us that rivalry and competition will set the tone for humanity and for its future." At the last preparatory meeting on 17 June, the United States rejected the outcome document that had been negotiated for months by the UN's 193 member nations and announced its withdrawal from the process and the Seville conference. The Seville Commitment document, approved by consensus, will be adopted by conference participants without changes. It says delegates have agreed to launch "an ambitious package of reforms and actions to close the financing gap with urgency." It calls for a minimum tax revenue of 15% of a country's gross domestic product to increase government resources, a tripling of lending by multilateral development banks and scaling up of private financing by providing incentives for investing in critical areas like infrastructure. It also calls for reforms to help countries deal with rising debt. UN trade chief Rebeca Grynspan recently said "development is going backward" and the global debt crisis has worsened. Last year, 3.3 billion people were living in countries that pay more interest on their debts than they spend on health or education and the number will increase to 3.4 billion people this year, according to Grynspan. And developing countries will pay $947 billion (€805 billion) to service debts this year, up from $847 billion (€720 billion) last year. Angolan President Joao Lourenco, speaking for the African Group at the conference, said debt payment 'consumes more resources than those allocated to health and education combined' for many countries. While US diplomat Jonathan Shrier told the 17 June meeting that "our commitment to international cooperation and long-term economic development remains steadfast," he said the text "crosses many of our red lines." He said those include interfering with the governance of international financial institutions, tripling the annual lending capacity of multilateral development banks and proposals envisioning a role for the UN in the global debt architecture. Shrier also objected to proposals on trade, tax and innovation that are not in line with US policy, as well as language on a UN framework convention on international tax cooperation. The United States was the world's largest single founder of foreign aid before the Trump administration dismantled its main aid agency, the US Agency for International Development (USAID). It drastically slashed foreign assistance funding, calling it wasteful and contrary to the Republican president's agenda. Other Western donors also have cut back international aid. UN Deputy Secretary General Amina Mohammed last week called the US withdrawal from the conference 'unfortunate,' adding that after Seville, "we will engage again with the US and hope that we can make the case that they be part of the success of pulling millions of people out of poverty." On Monday, European Commission President Ursula von der Leyen reaffirmed the bloc's commitment to development financing, saying, "Our commitment is here to stay." — Euronews
Euronews
a day ago
- Business
- Euronews
US skips global UN meeting aimed at raising billions to combat poverty
Many of the world's countries gathered in Spain on Monday, with the notable exception of the United States, in a bid to tackle the growing gap between rich and poor nations and try to drum up trillions of dollars needed to close it. "Financing is the engine of development. And right now, this engine is sputtering," United Nations Secretary General Antonio Guterres said in his opening comments at the four-day Financing for Development meeting in Seville. Many countries face escalating debt burdens, declining investments, decreasing international aid and growing trade barriers. Co-hosts the UN and Spain believe the four-day meeting is an opportunity to close the staggering $4 trillion (€3.4 trillion) annual financing gap to promote development, bring millions of people out of poverty and help achieve the UN's badly lagging Sustainable Development Goals for 2030. Even though the gathering comes amid global economic uncertainty and geopolitical tensions, there is hope that the world can address one of the most important global challenges: ensuring all people have access to food, healthcare, education and water. More than 70 world leaders attended, the UN said, along with representatives of international financial institutions, development banks, philanthropic organisations, the private sector and civil society. Spanish Prime Minister Pedro Sánchez told the delegates that the summit is an opportunity "for us to raise our voice in the face of those who seek to convince us that rivalry and competition will set the tone for humanity and for its future." Last-minute US rejection At the last preparatory meeting on 17 June, the United States rejected the outcome document that had been negotiated for months by the UN's 193 member nations and announced its withdrawal from the process and the Seville conference. The Seville Commitment document, approved by consensus, will be adopted by conference participants without changes. It says delegates have agreed to launch "an ambitious package of reforms and actions to close the financing gap with urgency." It calls for a minimum tax revenue of 15% of a country's gross domestic product to increase government resources, a tripling of lending by multilateral development banks and scaling up of private financing by providing incentives for investing in critical areas like infrastructure. It also calls for reforms to help countries deal with rising debt. UN trade chief Rebeca Grynspan recently said "development is going backward" and the global debt crisis has worsened. Last year, 3.3 billion people were living in countries that pay more interest on their debts than they spend on health or education and the number will increase to 3.4 billion people this year, according to Grynspan. And developing countries will pay $947 billion (€805 billion) to service debts this year, up from $847 billion (€720 billion) last year. Angolan President Joao Lourenco, speaking for the African Group at the conference, said debt payment 'consumes more resources than those allocated to health and education combined' for many countries. US objections While US diplomat Jonathan Shrier told the 17 June meeting that "our commitment to international cooperation and long-term economic development remains steadfast," he said the text "crosses many of our red lines." He said those include interfering with the governance of international financial institutions, tripling the annual lending capacity of multilateral development banks and proposals envisioning a role for the UN in the global debt architecture. Shrier also objected to proposals on trade, tax and innovation that are not in line with US policy, as well as language on a UN framework convention on international tax cooperation. The United States was the world's largest single founder of foreign aid before the Trump administration dismantled its main aid agency, the US Agency for International Development (USAID). It drastically slashed foreign assistance funding, calling it wasteful and contrary to the Republican president's agenda. Other Western donors also have cut back international aid. UN Deputy Secretary General Amina Mohammed last week called the US withdrawal from the conference 'unfortunate,' adding that after Seville, "we will engage again with the US and hope that we can make the case that they be part of the success of pulling millions of people out of poverty." On Monday, European Commission President Ursula von der Leyen reaffirmed the bloc's commitment to development financing, saying, "Our commitment is here to stay."
Los Angeles Times
a day ago
- Business
- Los Angeles Times
U.S. skips global U.N. meeting aimed at raising trillions to combat poverty
BARCELONA, Spain — Many of the world's nations, but not the United States, gathered Monday in Spain to tackle the growing gap between rich and poor nations and try to drum up trillions of dollars needed to close it. 'Financing is the engine of development. And right now, this engine is sputtering,' United Nations Secretary-General Antonio Guterres said in his opening comments at the four-day Financing for Development meeting in Seville. Many countries face escalating debt burdens, declining investments, decreasing international aid and increasing trade barriers. Co-hosts the U.N. and Spain believe the meeting is an opportunity to close the staggering $4 trillion annual financing gap to promote development, bring millions of people out of poverty and help achieve the U.N.'s badly lagging Sustainable Development Goals for 2030. Even though the gathering comes amid global economic uncertainty and geopolitical tensions, there is hope that the world can address one of the most important global challenges: ensuring all people have access to food, health care, education and water. More than 70 world leaders are attending, the U.N. said, along with representatives of international financial institutions, development banks, philanthropic organizations, the private sector and civil society. Spanish Prime Minister Pedro Sánchez told the delegates that the summit is an opportunity 'for us to raise our voice in the face of those who seek to convince us that rivalry and competition will set the tone for humanity and for its future.' At the last preparatory meeting on June 17, the United States rejected the outcome document that had been negotiated for months by the U.N.'s 193 member nations and announced its withdrawal from the process and the Seville conference. The Seville Commitment document, approved by consensus, will be adopted by conference participants without changes. It says delegates have agreed to launch 'an ambitious package of reforms and actions to close the financing gap with urgency.' It calls for a minimum tax revenue of 15% of a country's gross domestic product to increase government resources, a tripling of lending by multilateral development banks and scaling up of private financing by providing incentives for investing in critical areas like infrastructure. It also calls for reforms to help countries deal with rising debt. U.N. trade chief Rebeca Grynspan recently said 'development is going backward' and the global debt crisis has worsened. Last year, 3.3 billion people were living in countries that pay more interest on their debts than they spend on health or education, and the number will increase to 3.4 billion people this year, according to Grynspan. And developing countries will pay $947 billion to service debts this year, up from $847 billion last year. Angolan President Joao Lourenco, speaking for the African Group at the conference, said debt payment 'consumes more resources than those allocated to health and education combined' for many countries. While U.S. diplomat Jonathan Shrier told the June 17 meeting that 'our commitment to international cooperation and long-term economic development remains steadfast,' he said the text 'crosses many of our red lines.' He said those include interfering with the governance of international financial institutions, tripling the annual lending capacity of multilateral development banks and proposals envisioning a role for the U.N. in the global debt architecture. Shrier also objected to proposals on trade, tax and innovation that are not in line with U.S. policy, as well as language on a U.N. framework convention on international tax cooperation. The United States was the world's largest single founder of foreign aid before the Trump administration dismantled its main aid agency, the U.S. Agency for International Development. It drastically slashed foreign assistance funding, calling it wasteful and contrary to the Republican president's agenda. Other Western donors also have cut back international aid. U.N. Deputy Secretary-General Amina Mohammed last week called the U.S. withdrawal from the conference 'unfortunate,' adding that after Seville, 'we will engage again with the U.S. and hope that we can make the case that they be part of the success of pulling millions of people out of poverty.' On Monday, European Commission President Ursula von der Leyen reaffirmed the bloc's commitment to development financing, saying, 'Our commitment is here to stay.' Wilson and Lederer write for the Associated Press. Lederer reported from the United Nations.
Maroc
23-04-2025
- Politics
- Maroc
IAJ SG Calls Morocco Privileged Space for Dialogue, Exchange to Improve Judicial Performance
Morocco is a privileged space for dialogue and exchange of experience to improve judicial performance, Secretary General of the International Association of Judges (IAJ) Giacomo Oberto said on Monday in Casablanca. Hosting this meeting in Morocco reflects the unwavering commitment of Moroccan judges in the pursuit of justice, both on the African continent and worldwide, he said in a statement to the press at the opening of the International Conference of the IAJ African Group, organized by Morocco's Hassania Association of Judges, under the High Patronage of His Majesty King Mohammed VI. Oberto also highlighted Morocco's dynamic role within the IAJ, as one of the founding members of the African Group. In a similar statement, Kouassi Marsal, President of IAJ's African Group, spoke of the event as an ideal opportunity to examine the fundamental issues relating to the independence of the judiciary, a cornerstone of the guarantee of rights and freedoms. 'This meeting also provides an opportunity to reiterate our commitment to an independent justice system, and to share best practices and innovative mechanisms for improving the judicial system', she added. Under the theme 'For an independent African justice system', the conference, held until April 24, is seen by the organizers as a means of bolstering South-South judicial cooperation, and as a forum for dialogue and reflection on justice-related issues on the continent. It is also an opportunity to promote joint judicial training, exchange best practices and consolidate cooperation between African judicial systems, with the aim of building a common African legal space in the face of challenges such as illegal immigration, cross-border crime, environmental issues and digital transformation. The opening ceremony was attended by Morocco's Secretary of State for Employment Hicham Sabiry, Wali of the Casablanca-Settat region and Governor of the Casablanca prefecture Mohamed Mhidia, and a host of judicial officials representing some twenty African countries. MAP: 22 avril 2025
Sharjah 24
27-01-2025
- Business
- Sharjah 24
FNC Speaker, Kenya's Senate Speaker discuss cooperation
The discussions focused on ways to enhance parliamentary cooperation between the two sides, aligning with the growing bilateral relations between the two friendly nations, which are flourishing due to the support of their leadership and their commitment to advancing these relations to broader horizons. Ghobash emphasised that Kingi's visit aimed to strengthen various aspects of parliamentary cooperation between the two councils, in line with the aspirations of both sides to activate cooperation through enhanced coordination and consultation on issues of mutual interest. The meeting was attended by a number of FNC members. Ghobash said that the ties between the two countries have seen significant development since their establishment in the 1980s, strengthening and diversifying across various sectors. He also emphasised the importance of parliamentary institutions in aligning with the countries' trends and contributing to enhancing opportunities for development, progress, and prosperity in ways that serve their joint interests. FNC Speaker also stressed the UAE's commitment to strengthening bonds of friendship and strategic cooperation with African parliaments. He highlighted that the FNC has signed a Memorandum of Understanding and Cooperation with the African Group within the Inter-Parliamentary Union (IPU) to promote parliamentary coordination. Both sides agreed that the relations between the UAE and Kenya have reached unprecedented levels of development across all fronts. This progress has been supported by the signing of the Comprehensive Economic Partnership Agreement (CEPA) with Kenya this month in Abu Dhabi, which aims to enhance trade and investment relations and reflects the UAE's commitment to expanding its developmental partnerships with Africa. The agreement represents a significant milestone in the cooperation between the two countries.
