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Cuba advocates at UN a new international financial architecture

Havana, Apr 12 (Prensa Latina) Cuba's Prime Minister Manuel Marrero advocated on Monday at the the United Nations a transformation in the international financial architecture due to the inequalities among countries, deepened during the Covid-19 pandemic.

During a virtual forum of the UN Economic and Social Council (ECOSOC), the head of Government highlighted that developing nations face challenges such as increasing health expenses, the contraction of their economies, food insecurity, unemployment and poverty, which hinders the implementation of the 2030 Agenda.

‘In contrast, some powers squander billions of resources on military spending, fail to comply with the commitment to contribute 0.7 percent of their GDP to Official Development Assistance and impose unilateral coercive measures, which violate the UN Charter and International Law,’ he assured.

Marrero denounced the US blockade against Cuba as well as the implementation by the previous US administration of over 240 measures that remain in force.

Meanwhile, he emphasized that ’25 years after the creation of the World Trade Organization, the Doha Development Round is paralyzed and a special and differentiated treatment for the countries of the South continues to be a chimera.’

The PM advocated for supporting the efforts of developing countries with concrete actions ‘in the areas of technology transfer, external financing on fair terms, market access, capacity building and North-South cooperation.’

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