Havana, June 22 (ACN) Cuban President Miguel Diaz-Canel called in Paris for a world financial order which no longer submits south nations to underdevelopment and under the control of obsolete institutions.
Addressing the Paris’ summit for a New World Financial Pact as president of the Group of 77 plus China, the Cuban head of state described the current world financial order unjust, anti-democratic, speculative and excluding, according to PL news agency.
Diaz-Canel denounced the serious impact of the current financial architecture on developing nations like the doubling of their foreign debt over the past decade and their use of nearly 380 billion dollars from their reserves to defend their national currencies.
Under such unfavorable conditions, the south nations cannot generate or access the annual 4.3 trillion dollars needed to achieve the Sustainable Development Goals in the left 10 years of action, the Cuban President noted.
Diaz-Canel participated at one of the forums of the event along the French head of state Emmanuel Macron and the presidents of South Africa and Colombia, along other personalities.
Cuba Calls for New World Financial Order
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