21 March 2018: International financial policies and the 2030 Agenda for Sustainable Development must be more aligned to mobilize financing and reduce systemic risks, according to UN Development Programme (UNDP) Administrator Achim Steiner, who was addressing a meeting of G20 Finance Ministers and Central Bank Governors ahead of the November G20 Leaders Summit.

During the meeting, which convened from 19-20 March 2018, in Buenos Aires, Argentina, Steiner underscored that economic growth, and macroeconomic and financial stability all advance sustainable development. He said that risks to the financial system, such as conflicts, poverty and inequality, natural disasters, cybercrime or pandemics, will continue to destabilize countries and the global economy if they are not addressed through international cooperation. He also warned of a renewed cycle of debt crises that could lead to economic disruption, especially in those countries most vulnerable to shocks, such as the least developed countries (LDCs) and small island developing States (SIDS).

Steiner said Latin America has the opportunity to diversify its economies while protecting its biodiversity.

Steiner explained that Latin America, in particular, has the opportunity to diversify its economies while protecting its biodiversity. He stressed the importance increasing opportunities for women in the workforce, including improving women’s participation in traditionally male-dominated industries, rethinking care systems, and promoting social protection schemes.

Steiner, who is also Vice-Chair of the UN Development Group, also highlighted the support and commitment of government agencies, the private sector, academia, the legislature, religious institutions and civil society to the 2030 Agenda. The G20 Leaders Summit will take place in Buenos Aires from 30 November to 1 December 2018. [UNDP News Story] [Finance Ministers and Central Bank Governors Communiqué] [Communiqué Annex]