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Costa Rica calls for exceptional financial measures for 2030 Agenda

Christian Fernsby |
Costa Rican President Carlos Alvarado on Tuesday proposed special financial protection so that developing countries can deal with the health, economic and social impact caused by the coronavirus pandemic.

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Topics: COSTA RICA   

'Costa Rica supports resilient options to outlay on full recovery and guarantee the health crisis response to aligned with global development goals and commitments,' said Alvarado, speaking in a virtual panel Financing of the 2030 Agenda for the Sustainable Development in the era of coronavirus and future.

Held as part of the 75th session of the United Nations General Assembly, during the panel the Costa Rican president suggested the use of environmental and climate bonds as a tool for speeding up and implementing the global international objectives of developing countries.

He also mentioned the initiative promoted by Costa Rica of the Covid-19 Economy Relief Fund, which proposes to allocate 0.7% of the Gross Domestic Product (GDP) of the world´s richest and most powerful economies so as to finance with favorable and supportive loans to developing countries to face the health crisis.

Carlos Alvarado concluded that ¨we must solve the moral dilemma present due to the emergency of considering exceptional financial actions so that developing countries recover economically through renegotiations and reflections of debt and credit conditions.'

The UN Secretary-General António Guterres, UN Vice Secretary-General Amina Mohammed, World Bank Representative David Malpass, Director of the International Monetary Fund Kristalina Georgieva and the Prime Ministers of Canada Justin Trudeau, and Jamaica Andrew Holness also attended the virtual panel.

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