Arbeleche urged the creation of a new financial framework to strengthen sustainable development

Arbeleche urged the creation of a new financial framework to strengthen sustainable development

The Minister of Economy and Finance, Azucena Arbeleche, considered that it is necessary to generate “a new financial framework” at a global level to strengthen the sustainable development Worldwide.

During a tour of USA, Arbeleche was in favor of creating “a new structure of institutions that can provide financial instruments similar to those that Uruguay has been using to provide global public goods.”

Within the framework of a panel organized by Brooking Institution, The head of the MEF highlighted the instruments developed by the government, such as the green bonus and the sustainable credits, noting that “they can be scalable to other developing countries through the action of multilateral financing organizations.”

In that sense, the leader focused on “the importance of transparency and the accountability towards the market and multilateral organizations”, highlighting the Uruguayan experience.

Finally, Arbeleche recalled his experience in the World Bank Development Committee, when Uruguay exercised his presidency in 2022, considering that “more representation is necessary equitable of developing countries in multilateral organizations”, for which he called for “greater dialogue and communication between developing and developed countries, in pursuit of achieving common objectives.”

Azucena Arbeleche authorized.jpeg

Arbeleche and a relevant tour of the United States

The minister traveled to Washington to participate in the spring meetings of the World Bank (WB) and the International Monetary Fund (IMF), where he held important meetings and garnered praise from the authorities.

The trip, together with the director of Economic Policy, Marcela Bensión; the director of the Debt Management Unit, Herman Kamil; and the principal advisor of the Debt Management Unit, Antonio Juambeltz, focused on the national strategy to strengthen sustainable development.

During the activities, Arbeleche also highlighted “the importance of the role that financial incentives in the actions of countries related to environmental conservation and defense against climate change”.

In this sense, he highlighted “the need for developed countries to fulfill their commitments to financially support the paradigm shift towards the defense of the environment and the production of global public goods.”

Source: Ambito

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