Paris (EFE)
“No country should have to choose between reducing poverty and protecting the planet,” Macron said in his opening speech at the Summit for a new global financial pact.
This is the first of the four principles that, according to Macron, should guide these two days of discussions.
The second is that each country must sovereignly choose its path, because “there is no single model,” he added.
The third is that “we must assume an impact on public finances”, because “much more must be invested”, also with “a mobilization of international institutions”, such as the World Bank and the International Monetary Fund.
Finally, he pointed directly to the private sector, which he accused of not being “up to the task” of the global challenge. “We need much more from the private sector,” he insisted, because “there is a lot of money there” and they must put themselves “at the service of the planet.”
Renew the Bretton Woods agreements
Macron reiterated that the reform of the financial system is necessary at a time when “inequalities are increasing and climate change raises risks.”
And he recalled that the pandemic “increased inequality” and then “the war in Ukraine due to Russian aggression added destabilization.”
Faced with this, he pointed out that the international financial system “is the result of consensus from the past”, in reference to the Bretton Woods agreements of 1944, and that although “it has achieved achievements, it is not adapted and must be realigned for the new objectives ”.
For two days, this event brings together government leaders, international institutions and representatives of civil society in Paris to try to lay the foundations for a new development financing system that allows the countries involved to get out of poverty and at the same time face the challenges climate change