US Skips Global UN Meeting to Combat Poverty: Leaders Gather in Spain

Leaders of many nations gathered in Spain to address the gap between rich and poor countries and raise trillions of dollars to close it. More than 70 world leaders adopted the Seville Commitment, aiming to launch reforms urgently. The meeting discussed escalating debt burdens, declining investments, and the need to ensure access to food, healthcare, education, and water for all.

The United Nations Secretary-General emphasized the importance of financing for development. The summit aimed to close the $4 trillion annual financing gap, promote development, lift people out of poverty, and achieve Sustainable Development Goals by 2030. Representatives from various sectors attended the meeting.

The U.S. withdrew from the conference, while other nations expressed commitment to collective mobilization for development financing. The Sevilla Commitment includes measures to increase tax revenue, boost lending, and address rising debt. Developing countries face challenges with debt payments exceeding investments in health and education.

Despite objections from the U.S. on various proposals, the meeting highlighted the importance of international cooperation and long-term economic development. The U.S. had previously been a major contributor to foreign aid before reducing funding under the Trump administration.

According to the source: Manila Bulletin.