G20's legitimacy depends on treatment of world's poorest, UNDP chief says

February 28, 2024

SAO PAULO -- The legitimacy of the Group of 20 economic powers depends on its impact on the world's poorest people, not just controlling inflation, the head of the United Nations Development Programme (UNDP) said on Tuesday. "The G20's legitimacy in sending absolutely consequential signals into the global economy and financial system must also be measured by its impact and consequences for the world's poorest," UNDP's Achim Steiner said in an interview ahead of the meeting. Many of these countries spend more on servicing their debt than on education or health, also leaving little resources for addressing climate change and transition away from fossil fuels, he said. Brazilian President Luiz Inacio Lula da Silva is pushing to give developing nations of the Global South more voice in G20 meetings during Brazil's presidency. Steiner praised Brazil's approach for addressing poverty, climate change and multilateral reform and said he hoped the final communique later this week would reflect those priorities.

The source of this news is from Tuoi Tre News

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