GA / MIDDLE-INCOME COUNTRIES

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17-Jun-2021 00:02:27
“We need a more efficient and predictable, multilateral trading system that can withstand future economic shocks,” said UN Secretary-General Antonio Guterres at the meeting of the General Assembly on the middle income countries and called for a new debt mechanism that can provide “a menu of options, including debt swaps, buy-backs and cancellations.” UNIFEED

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STORY: UN / MIDDLE INCOME COUNTRIES
TRT: 2:30
SOURCE: UNIFEED
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LANGUAGE: ENGLISH /NATS

DATELINE: 17 JUNE 2021, NEW YORK CITY

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1.Exterior shot, UN Headquarters

17 JUNE 2021, NEW YORK CITY

2.Wide shot, General Assembly
3.Wide shot, Bozkir going to rostrum
4.SOUNDBITE (English) Volkan Bozkir, President of the UN Generfal Assembly:
“As we move to accelerate progress on the Sustainable Development Goals in this Decade of Action, removing the barriers to progress in Middle-Income Countries is a sure way to expedite and deepen success. With 75 percent of the world’s population and 62 percent of the world’s poor, Middle-Income Countries constitute an economic powerhouse that if unleashed can boost global economic growth, enhance trade, and support the development of new and innovative sectors. This will not only help alleviate poverty in Middle-Income Countries themselves, but support growth the world over. This is a win-win for all involved.”
5.Wide shot, Guterres going to rostrum
6.SOUNDBITE (English) Antonio Guterres, Secretary-General of the United Nations:
“COVID-19 – and the disruptions in global trade – has exposed and exacerbated the economic, social and environmental vulnerabilities of many middle-income countries. In many, it has also amplified structural challenges such as limited healthcare capacities, inadequate education systems and limitations in public administration. We have to use this moment to build resilience for the future.”
7.Wide shot, General Assembly
8.SOUNDBITE (English) Antonio Guterres, Secretary-General of the United Nations:
“We need a more efficient and predictable, multilateral trading system that can withstand future economic shocks. Financing will be crucial. On the revenue side, we have to explore how middle-income countries can mobilize domestic resources and reduce inefficiency and waste.”
9.Wide shot, General Assembly
10.SOUNDBITE (English) Antonio Guterres, Secretary-General of the United Nations:
“A new debt mechanism must provide a menu of options, including debt swaps, buy-backs and cancellations. This is the moment to tackle long-standing weaknesses in the international debt architecture, from lack of agreed principles, to restructurings that provide too little relief, too late. Innovative instruments to allow debt restructuring and meaningful debt reduction can help middle-income countries expand their fiscal space to boost investment and steer a resilient and sustainable recovery from the crisis.”
11.Wide shot, General Assembly

STORYLINE:

“We need a more efficient and predictable, multilateral trading system that can withstand future economic shocks,” said UN Secretary-General Antonio Guterres at the meeting of the General Assembly on the middle income countries and called for a new debt mechanism that can provide “a menu of options, including debt swaps, buy-backs and cancellations.”

The President of the UN General Assembly has convened a high-level meeting on Thursday (17 Jun) under the theme “Finetuning the development system approach to address the needs of middle-income countries” to take stock of the current landscape for middle income countries and address the current socio-economic fallout from the pandemic and how it has underlined and exacerbated existing fragilities, with severe consequences for achieving the Sustainable Development Goals.

“As we move to accelerate progress on the Sustainable Development Goals in this Decade of Action, removing the barriers to progress in Middle-Income Countries is a sure way to expedite and deepen success,” said Volkan Bozkir, President of the General Assembly. “With 75 percent of the world’s population and 62 percent of the world’s poor, Middle-Income Countries constitute an economic powerhouse that if unleashed can boost global economic growth, enhance trade, and support the development of new and innovative sectors. This will not only help alleviate poverty in Middle-Income Countries themselves, but support growth the world over. This is a win-win for all involved.”

“COVID-19 – and the disruptions in global trade – has exposed and exacerbated the economic, social and environmental vulnerabilities of many middle-income countries,” said the Secretary-General Antonio Guterres. “In many, it has also amplified structural challenges such as limited healthcare capacities, inadequate education systems and limitations in public administration. We have to use this moment to build resilience for the future.”

Calling for “a new debt mechanism,” the Secretary-General said “this is the moment to tackle long-standing weaknesses in the international debt architecture, from lack of agreed principles, to restructurings that provide too little relief, too late. Innovative instruments to allow debt restructuring and meaningful debt reduction can help middle-income countries expand their fiscal space to boost investment and steer a resilient and sustainable recovery from the crisis.”

The opening segment of the meeting with a stocktaking component was followed by three interactive panels, addressing key aspects of the gaps and challenges of middle-income countries in the implementation of the 2030 Agenda for Sustainable Development. The interactive panels will focus on the economic dimension of sustainable development, the consequences of the COVID-19 pandemic and the required support to middle-income countries from the UN Development System, as well as the global economic ecosystem including international financial institutions and the private sector.
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