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Bangkok Post
Bangkok Post
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Financial systems failing Africa

The United Nations Secretary-General, António Guterres, recently sounded an ominous alarm bell. The Sustainable Development Goals (SDG), which aim to significantly reduce poverty around the world and create a better quality of life for all, are off track, he warned.

And so, French President Emmanuel Macron called a global conference in Paris this month to address getting the 2030 SDG targets back on course. As world leaders from Barbados to Kenya to Germany gather, there are seven things they must focus on. This blueprint for prosperity is too important to let slide.

The global financial architecture is failing Africa and developing countries. Before the sneak attack of the pandemic, progress in achieving the SDGs was mixed, with a US$2.5 trillion (87.6 trillion baht) annual SDG financing gap for developing countries. Africa alone will need $1.3 trillion annually to achieve its sustainable development needs by 2030.

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