Anjali Sharma
GG News Bureau
UNITED NATIONS, 19th Jan. UN human rights head Volker Turk on Thursday said that human rights must be integrated into the heart of the international financial architecture if the world is to achieve sustainable development for all.
He noted that in the aftermath of the COVID-19 pandemic has revealed how the system established 80 years ago has not protected countries from deep economic and financial crisis.
The progress was made to achieve the Sustainable Development Goals by 2030 has also been knocked off course.
He recalled that the UN Secretary-General has repeatedly pushed for reform of the international financial system.
Mr. Turk said “infusing the values and protections provided by human rights into this overhaul is critical.”
He outlined areas for action, starting with a “massive injection” of finance to get the SDGs back on track.
Focus should be on providing concessional financing or loans with much lower interest rates and longer and fairer borrowing terms, he added.
Comments are closed.