Before her peers from the G20 -which includes developed countries and emerging economies-, the head of the Palacio de Hacienda said that it is “essential to consider the different impacts of transitions to low greenhouse gas emissions economies”.
And also the need to guarantee access on “long term financing and affordable for emerging market economies and low-income countries.
Batakis recalled that the limited fiscal space and external debt burden in many low- and middle-income countries they can condition their development strategies.
And he stressed that “the passage must be fair, but also inclusive, affordable and sustainable, incorporating a social perspectivel, in addition to macroeconomic, fiscal, financial, and balance of payments considerations.”
The Minister of Economy underlined the need to “reform the international financial architecture to allow the development of sustainable local capital markets”.
After meeting with his team of collaborators, Batakis participated as a keynote speaker in a session where finance ministers and central bank presidents of the G20 discussed how to drive the sustainable finance agenda to strengthen recovery and foster sustainable growth of the global economy.
Also guide and strategically take advantage of the public and private investments to promote transitions towards more resilient, sustainable and inclusive economies and societies”.
In the minister’s words, this should be a priority for the G20 countries.
The Secretary for International Economic and Financial Affairs, Ramiro Ordoqui, also participated in the virtual meeting.
Source: Ambito
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