Summary
Interactive Dialogue 1: Transforming global governance and turbocharging the implementation of the 2030 agenda for sustainable development.
Description
The urgent need for reform of the global financial architecture has been an ongoing concern. Significant changes are underway to modernize the system to respond more effectively to current global challenges such as poverty, climate change, conflicts and address all forms of inequalities while accelerating progress to achieve the Sustainable Development Goals. There is a recognized need for change, including to increase liquidity and ease pressure on developing countries, which are facing severe economic difficulties such as debt crises, inflation, and the impacts of climate change.
The interactive dialogue will address critical issues concerning global economic stability, development financing, and the equitable management of global economic resources. The dialogue will focus on several key aspects such as debt relief initiatives, global financial regulations, innovative financing for development, and inclusive and effective international tax cooperation. The dialogue will also facilitate comprehensive discussions that cover critical aspects of the international financial architecture and its institutions, including IFIs and MDBs, which are embarking on far-reaching reforms, with a focus on governance, stability, sustainability and inclusivity.
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The Summit of the Future (22-23 September 2024) is a once-in-a-generation opportunity to enhance cooperation on critical challenges and address gaps in global governance, reaffirm existing commitments including to the Sustainable Development Goals and the United Nations Charter, and move towards a reinvigorated multilateral system that is better positioned to positively impact people’s lives.
The Summit of the Future is a high-level event, bringing world leaders together to forge a new international consensus on how we deliver a better present and safeguard the future.
Effective global cooperation is increasingly critical to our survival but difficult to achieve in an atmosphere of mistrust, using outdated structures that no longer reflect today’s political and economic realities.
World leaders will convene at the United Nations to adopt the Pact for the Future, which will include a Global Digital Compact and a Declaration on Future Generations as annexes.