Alberto Fernandez called for rethinking a new international financial architecture
30 septiembre 2021

ARGENTINA

On September 28, President Alberto Fernandez participated virtually in the High-Level Dialogue, convened by the UN and the ILO, to discuss a coordinated international response to the impact of COVID-19 on the world of work. There, the President urged to “rethink a new international financial architecture” to face “the triple crisis of pandemic, climate change and debt” that countries such as Argentina are going through.

In his message he also called for “a pact to extend the terms to meet debt payments and the application of lower rates under the current circumstances of social, health, financial and ecological stress” and stressed the need to be creative with debt-for-climate swaps.

At the same time, he stressed that, although the G20 countries and the IMF understood the seriousness of the issue, the measures are not enough and encouraged the need for “a great global solidarity pact, including low-income and middle-income countries with high climate, socio-productive and financial vulnerability”. Finally, he pointed out the importance of taking advantage of the crisis “to promote a transition towards a more digitalized, resilient, sustainable and people-centered economy”.

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