Summit for a New Global Financing Pact [fr]
It is high time to reform the international financial system, 80 years after the Bretton Woods conference. At the initiative of its President, France is hosting more than 300 Heads of State and Government, international organizations and representatives of civil society and the private sector on 22 and 23 June 2023. The aim of the Summit is to lay the groundwork for a new financial system suited to the common challenges of the 21st century, such as fighting inequalities and climate change and protecting biodiversity.
Ambitious goals
The public debt of all countries has reached unprecedented levels since the COVID-19 crisis. A third of developing countries and two thirds of low-income countries face high risks of excessive debt. The trend of poverty reduction over recent decades has stalled. Financial solidarity therefore appears more necessary than ever before.
That is why this meeting aims to establish a sufficiently robust international financial architecture to provide greater resources, protect the most vulnerable countries from shocks, help achieve the Sustainable Development Goals (SDGs), restore the long-term trend of poverty reduction, and preserve global public goods such as climate and health.
An inclusive, multi-stakeholder Summit
The French President has invited Heads of State and Government, leaders of international financial institutions and representatives of civil society and the private sector in order to lay the foundations of a new system to address common challenges.
France, an international broker
France has always acted as an impartial international broker and has helped resolve some of the most complex issues of the time, from addressing the shortfall in AIDS research funding to increasing the access of middle-income African countries to financing.
For more information, visit the Summit website: https://nouveaupactefinancier.org/en.php