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THE SECRETARY-GENERAL — REMARKS AT 2024 ECOSOC FORUM ON FINANCING FOR DEVELOPMENT FOLLOW-UP

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New York, 22 April 2024

 

Excellencies, ladies and gentlemen,

 

I thank ECOSOC for convening this forum on a topic that is essential to development and the better world we all seek — financing.

 

Financing is the fuel of development.

 

Yet many developing countries are running on empty.

 

This is creating a sustainable development crisis.

 

 

A crisis of lingering poverty and rising inequality.

 

A crisis of hunger, lack of education and shattered infrastructure.

 

A crisis of climate catastrophe and shocks that are becoming more frequent and acute.

 

And a crisis that, if left unchecked, will undermine stability, prosperity and peace for decades to come.

 

Crisis after crisis, challenge after challenge, all tied together by a common thread.

 

Lack of financing.

 

Many developing countries are simply unable to make the investments they need in sustainable development, and the systems and services their people require.

 

And when they turn to the global financial system for help, they find that it is unable to provide a global safety net to shield them from shocks.

 

They find a system incapable of helping them forge stability or sustainability.

 

They find a system that they had no hand in creating, no voice in shaping — and that remains unresponsive to their needs.

 

My friends, they find a system that is broken.

 

The result is plain to see.

 

The Sustainable Development Goals are hanging by a thread — and with them, the hopes and dreams of billions of people around the world.

 

The world faces an annual financing gap of around $4 trillion to reach the SDGs — a sharp rise from the $2.5-trillion gap one year before the COVID-19 pandemic.

 

This growing financing gap is matched by a growing financing divide — between those countries that can access financing at affordable rates, and those that cannot.

 

This is no longer a question of “haves” and “have nots.”

 

This is a question of who has access to finance when they need it — and who does not.

 

This is a question of justice.

 

Look at the global financial system’s handling of debt.

 

Many developing countries are being crushed under a steamroller of debt.

 

Four out of every 10 people worldwide live in countries where governments spend more on interest payments than on education or health.

 

Annual debt service payments in the world’s poorest countries are 50 per cent higher than they were just three years ago.

 

In sub-Saharan Africa, debt-servicing consumed nearly half of all government revenue in 2023.

 

In country after country, development gains are quickly erased by relentless crises, with debt service payments impeding critical social spending and investments in the SDGs.

 

Money is flowing in the wrong direction — from the countries who need it to the countries who don’t.

 

When it comes to debt, developing countries are climbing a ladder planted in quicksand.

 

Excellencies,

 

A growing economy is the best way to reduce debt burdens and raise domestic revenue for key investments.

 

We need a surge of investment to bridge the financing gap and give developing countries a fighting chance to build better lives for their people.

 

We must continue pushing for an SDG Stimulus of $500 billion annually in affordable long-term finance for developing countries.

 

The Stimulus was welcomed by world leaders at the SDG Summit and in the G20 New Delhi Leaders’ Declaration.

 

Now it’s time to move from words to action and deliver affordable, long-term financing at scale.

 

First — developed countries need to step-up, led by the G20.

 

Discussions on general capital increases for Multilateral Development Banks should start now.

 

Meanwhile, donors must meet their official development assistance commitments.

 

In 2022, only four countries met or exceeded the agreed target of 0.7% of Gross National Income.

 

Official development assistance has risen on paper, but it is increasingly spent within donor countries, leaving developing countries without the resources they need.

 

I call on all donor countries to meet their targets, and get this financing flowing.

 

Second — we need Multilateral Development Banks to make better use of the resources they can already access, at no additional cost to shareholders.

 

This includes finding ways for MDBs, central banks and credit rating agencies to greenlight ways to stretch Banks’ balance sheets, leveraging the vast sums of callable capital that the shareholder countries of MDBs have at the ready, sitting in central banks.

 

It means deploying innovative financing systems — for example, hybrid capital bonds that increase lending capacity and attract private capital.

 

And MDBs must readjust their business models to better leverage private finance at a reasonable cost for developing countries.

 

Third — we need bold action to ease the debt distress.

 

Any new financing should be used for productive investments and sustainable development — not to service unsustainable and unaffordable debt.

 

And the debt-restructuring systems and mechanisms in place need to be strengthened.

 

The Debt Service Suspension Initiative and the G20 Common Framework for Debt Treatments have not delivered on their promise.

 

The Debt Service Suspension Initiative was too limited in scope and duration, expiring just as interest rates skyrocketed.

 

Debt repayment pauses must be considered for countries facing liquidity crises.

 

And for those countries bearing the weight of unsustainable debt, it’s time to revamp the debt resolution architecture to provide deep relief that avoids repeat crises.

 

Regardless of intent and efforts, the Common Framework has failed to provide this.

 

Nor has it served many of the countries that face the greatest unresolved debt problems.

 

It’s time for change.

 

And fourth — we need to increase developing countries’ representation across the system and every decision that is made.

 

This July is the 80th anniversary of the Bretton Woods Conference, which ushered in today’s international financial architecture.

 

But the countries who need these systems and institutions most were not present at their creation — a lack of representation that continues to this day.

 

In the name of justice, they need and deserve a seat at the table.

 

The Summit of the Future in September and next year’s Financing for Development Conference will be key opportunities to gather the world together to reform the global financial architecture so it serves all countries who need it.

 

Excellencies,

 

Let’s make the most of these opportunities.

 

Now is the time for ambition.

 

Now is the time for reform.

 

Now is the time to shape a global economic and financial system that delivers for people and planet.

 

I look forward to standing with you in this great effort, as we shape a more inclusive, just, peaceful, resilient, and sustainable world for present and future generations.

 

Thank you.

 

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Survey: 4 out of 5 American Travelers Embrace Biometrics Use at Airport Security

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Transportation Security Administration (TSA) Increasingly Aligned with the Interests of U.S. Travelers

 

From Hospitalitynet.org

 

WASHINGTON – Following record-breaking air travel over Labor Day weekend, the U.S. Travel Association along with Ipsos released survey results underscoring traveler preference of biometric technology screening to keep air passengers safe and provide greater efficiency at airport checkpoints.

By overwhelming margins, air travelers support TSA’s use of biometric technology at airports to strengthen security and improve the travel experience. Travelers embrace next-generation technology at the same time a small cadre of members of Congress seek to take air travel back to the Dark Ages. Further efforts to harm the travel experience by forcing antiquated approaches upon travelers will have consequences among voters. Geoff Freeman, U.S. Travel Association President and CEO

Key findings include:

  • The majority of air travelers (79%), Americans (78%), Democrats (80%), and Republicans (76%) support the use of biometrics at TSA security checkpoints to confirm the identity of travelers.
  • Nearly all Americans (92%) and air travelers (95%) agree that verifying traveler identity is an important measure taken by TSA to protect the flying public.
  • Nine in 10 air travelers say they would be more likely or equally likely to support biometric use at TSA security checkpoints if it reduced the typical time it takes to get through security.
  • Supporters of TSA biometrics primarily list stopping terrorism and human trafficking (71%) and making airports safer (66%) as their reasons for supporting biometric use at TSA security checkpoints – even above travel efficiency and wait times.
  • More than half of Americans say they are more likely to support the use of biometrics at TSA security checkpoints knowing the data would:
  • Be deleted within hours of the completed trip,
  • Be used to stop terrorism,
  • Have safeguards in place to ensure biometric data is not shared with other government agencies.

These results emphasize the important work of our Commission on Seamless and Secure Travel, which is closely examining the use of biometrics to strengthen security, improve the passenger experience and protect privacy, Freeman added. Given the decade of major global sporting events announced for the United States and knowing a vast majority of travelers prefer biometric screening, Washington must act to fund and widely utilize this technology at our nation’s airports to welcome and process millions of people who are expected to visit in coming years.

U.S. Travel’s Commission on Seamless and Secure Travel, chaired by former Acting Homeland Security Secretary Kevin McAleenan, has embarked on a year-long study to improve U.S. global competitiveness and increase travel security and efficiency. A report and recommendations are expected this fall.

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Enternainment

This week, we said Good bye to James Earl Jones, legendary EGOT Winner

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USA, September 24, 2024 – James Earl Jones is an American actor and voice artist, widely regarded as one of the greatest actors in American history. Born on January 17, 1931, in Arkabutla, Mississippi, he is known for his deep, resonant voice and commanding presence.

Here are some key highlights of his life and career:

Childhood:  Jones experienced a challenging childhood; he developed a severe stutter as a child and was nearly mute for years. It wasn’t until high school that he began speaking regularly, and his interest in acting helped him overcome the stutter.

Education: He attended the University of Michigan, initially studying pre-med but later switching to drama and focusing on acting.

Acting Career

Stage and Film: James Earl Jones made his mark on both stage and screen. His Broadway performance in The Great White Hope, (1969) earned him a Tony Award and led to an Oscar nomination when he reprised the role in the film adaptation in 1970.

Iconic Roles:

Voice of Darth Vader:  Jones is perhaps most famously known as the voice of Darth Vader in the Star Wars franchise, a role that has cemented his place in pop culture.

Mufasa in The Lion King:  He provided the voice for Mufasa in Disney’s animated classic The Lion King (1994) and reprised the role in the 2019 live-action remake.

Other Notable Films

His extensive filmography includes roles in movies like Field of Dreams (1989), Coming to America (1988), Cry, the Beloved Country (1995), and Patriot Games (1992).

Why we call him an EGOT winner

(Emmy, Grammy, Oscar & Tony Awards)

Jones has won multiple awards, including Tony Awards, Emmy Awards and an Academy Honorary Award in 2011 for his lifetime contribution to film.

He was also awarded the Kennedy Center Honor in 2002.

Personal Life – Jones was married to actress Cecilia Hart from 1982 until her death in 2016, and they have one son together, Flynn Earl Jones.

Though he is renowned for his powerful voice, Jones also speaks fondly of his struggles with speech as a young man and how acting helped him overcome them.

James Earl Jones’ versatility as an actor and the depth of his performances have earned him a place among the most respected figures in Hollywood.

Jones passed away on Monday September 10, 2024 surrounded by his loved ones; no cause of death was disclosed and James Earl Jones was 93 years old.

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Remembering 9/11

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September 11, 2024 – The September 11 attacks, often referred to as 9/11, were a series of coordinated terrorist attacks carried out by the extremist group al-Qaeda on the morning of September 11, 2001. Here are some key points about the events and their aftermath:

  1. **Overview of the Attack:** – On that day, 19 terrorists hijacked four commercial airliners. – Two planes, American Airlines Flight 11 and United Airlines Flight 175, were flown into the North and South Towers of the World Trade Center in New York City. – A third plane, American Airlines Flight 77, was crashed into the Pentagon in Arlington, Virginia. – The fourth plane, United Airlines Flight 93, was headed for a target in Washington, D.C., but crashed into a field in Pennsylvania after passengers attempted to regain control.
  2. **Casualties:** – Nearly 3,000 people died as a result of the attacks, making it the deadliest terrorist act in world history. – The victims included civilians from over 90 countries, first responders, and military personnel.
  3. **Immediate Impact:** – The attacks led to widespread panic, destruction, and a significant loss of life. – The World Trade Center towers collapsed as a result of the impacts and subsequent fires, leading to further casualties and destruction in lower Manhattan.
  4. **Global Response:** – In the wake of the attacks, the United States launched the War on Terror, which included military operations in Afghanistan aimed at dismantling al-Qaeda and removing the Taliban regime that was harboring them. – A multitude of security measures were implemented domestically and internationally to prevent future attacks.
  5. **Long-term Consequences:** – The events of 9/11 led to significant changes in U.S. and global security policies, including the creation of the Department of Homeland Security. – The attacks also resulted in increased scrutiny and changes to immigration policies, travel regulations, and data collection practices under the USA PATRIOT Act.
  6. **Cultural and Political Impact:** – The attacks deeply affected American society and led to widespread public grief and a surge of nationalism. – They have continued to shape U.S. foreign policy and domestic politics for years, leading to ongoing debates about civil liberties versus national security.
  7. **Memorialization:** – The National September 11 Memorial & Museum was established to honor the victims and educate the public about the events of that day. – Annual commemorations take place to remember those who lost their lives and the impact of the attacks on families and communities. The 9/11 attacks remain a pivotal moment in modern history, influencing global politics, security policies, and public consciousness in profound ways.

From ChatGPT

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