51吃瓜

H.E. Sewa Lamsal, Foreign Secretary of Nepal, and Chair of the LDC Group 

Ambassador Jay Dharmadhikari, Deputy Permanent Representative of France to the 51吃瓜

Ambassador Ifigeneia Kontoleontos, Permanent Observer of the OIF to the 51吃瓜

Prof. Guillaumont,

Excellencies, Distinguished Colleagues,

I extend my sincere thanks to Ferdi for organizing this timely meeting. 

I also wish to express my deep appreciation to the Organisation internationale de la Francophonie (OIF) for hosting us today.

The 45 Least Developed Countries (LDCs) represent the most vulnerable countries globally, facing unique and pressing challenges that demand focused attention and support. 
The Summit of the Future offers a critical moment to reaffirm our shared commitment and solidarity to support LDCs overcome these obstacles, ensuring that they remain on course to achieve the SDGs.

The growing convergence for an ambitious Pact of the Future, which outlines transformative actions to implement the 2030 Agenda and realize the SDGs, is a promising step forward.

However, despite this collective ambition, LDCs remain at serious risk of being left behind in the global development journey.

In 2023, LDCs experienced an alarming 10% GDP loss compared to pre-pandemic growth trends, largely due to compounded impacts of COVID-19, climate change and other overlapping global crises.

As a result, an additional 15 million people in LDCs were pushed into extreme poverty between 2019 and 2023. 

And one in four people in LDCs suffer from severe food insecurity – a staggering 250 million people, significantly more than a decade ago. 

At the same time the digital divide between developed and developing countries continues to widen, with only 36% of the population in LDCs using the Internet, compared to the global average of 66%. 

Despite these alarming realities, the international response has been inadequate. 

ODA flows to LDCs dropped by over 7% in 2022, amounting to only about $45 billion. 

Of the DAC Donors, only three countries met the target of disbursing 0.15 per cent or more of their GNI as ODA to the LDCs in 2022, down from six countries in 2021 and 11 in 2011.

Moreover, the debt crisis is worsening.  Six LDCs are already in debt distress, with 15 others at high risk. 

In 19 LDCs, interest payments now exceed public health expenditures. 

External debt service across LDCs rose from $46 billion in 2021 to $60 billion in 2023, further straining fiscal space and constraining governments’ ability to drive recovery and growth.

As the Secretary-General has repeatedly stressed: “the international financial system is outdated, dysfunctional and unfair”.  And this system has failed to deliver on the needs of the LDCs.

To bring about real change, the reform of the international financial architecture, has gained more urgency than ever.  

Excellencies,

The Doha Programme of Action (DPOA) provides a comprehensive framework to support LDCs achieve the SDGs.  

The DPOA commits to promoting micro-, small and medium-sized enterprises, especially those led by women, by facilitating equal access to financial services and products.

It also calls for enhanced financial and technical support to strengthen LDCs’ domestic resource mobilization and revenue collection capacities through improved tax transparency. 

Additionally, the DPOA envisions the establishment of an International Investment Support Centre for LDCs to attract private sector investment and foster FDI, thereby driving economic transformation.

Importantly, it seeks coordinated and appropriate debt solutions in a timely manner for all LDCs facing debt vulnerabilities, ensuring sustainable debt levels and fiscal stability.

Furthermore, the DPOA calls for broadening and strengthening the voice and participation of LDCs in international economic decision-making, norm-setting and global economic governance.

The recently adopted Multidimensional Vulnerability Index (MVI) which assesses vulnerability by measuring the risk of harm from exposure to adverse external shocks and stressors, including those related to accessing development finance, can be an important tool to ensure tailored support and resources to the LDCs.

The upcoming 4th International Conference on FFD in 2025 offers a critical opportunity to prioritize the unique financing needs of LDCs, including the mobilization of additional resources and the much-needed reform of the global financial architecture.

We must collectively develop concrete, actionable solutions to address the financing and debt challenges of LDCs. 

Let us work together to ensure that no one is left behind. 

I thank you and wish you all fruitful deliberations.