Global Policy UN Watch 2024 No.5 Subscribe Past Issues Translate RSS Global Policy UN Watch No.5 | 2024 Member State Priorities ahead of the SOTF 16 April 2024 | Summit of the Future (SOTF) Website Closed Informal Consultations for the Summit of the Future (SOTF) at the ambassadorial level were held on 16 April 2024 to take stock on the current state of negotiations of the Pact for the Future (PFT. [...] Publicly available statements from the closed consultations by G77 and China and the EU highlight some of their key focus areas ahead of the next round of Pact negotiations, expected to be completed by the beginning of May. [...] In this context, the G77 hopes to see our actionable proposals put forward in the zero draft to bridge the SDG Financing Gap and for the reform of the IFIs reflected in the Rev.1.” Some of the proposals the G77 and China address a new general allocation of US$500 billion in Special Drawing Rights as a key tool to unlocking financing for the SDGs, in addition to the urgent need to enact IMF quota r. [...] They explored issues on the reform of the International Financial Architecture (IFA) in the context of the IMF and World Bank Spring meetings held 15 - 20 April, as well as negotiations underway ahead of the SOTF. [...] Chapter 5 of the Pact for the Future is an opportunity to envision a world in which the veto is made subservient to our obligations to the Charter, rather than one in which the veto is abused to justify breaches of the Charter.
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