2021 SDG Moment: Decolonize the Global Economy!

SID's Managing Director and Civil Society Financing for Development Group Coordinator, Stefano Prato participated in the 2021 SDG Moment Event, convened by the United Nations Secretary-General this Monday, 20 September 2021.

In this space, Stefano Prato made an urgent call for decolonising the global economy and pointed to the Financing for Development process as means to address systemic challenges requiring bold responses under the United Nations, the one space where Global South countries are at the table with equal voice and vote.

He commented on the issue of vaccine inequity and expressed that while the Global North continues to deploy large stimulus packages and vaccines, the Global South remains confronted with unbearable restrictions on policy and fiscal space, suffocated by illicit financial flows, unfair trade and investment regimes, unsustainable debt burdens and policy conditionalities that narrowed its capacity to focus on people-centred, rights-based socio-economic transformation strategies. 

He finalized his participation by making a call for a follow-up FfD conference, in the form of an International Economic Reconstruction and Systemic Reform Summit under the auspices of the UN, to discuss and take decisions on transformative pathways to a new global economy which would be centred on the principles of human rights, gender equality and socio-economic and ecological justice. 

You can CLICK THIS LINK to watch the full presentation.