Publish date20 Sep 2023 - 21:25
Story Code : 607584

Argentina's president criticizes global financial system's inequity in UN address

In his final address to the UN General Assembly, Argentina's President Alberto Fernandez made impassioned calls for international financial reform and decried the burden of debt on middle-income countries.

"The international financial system shows no willingness to adapt to a world that wants equality, instead insisting on enforcing the same orthodox policies that have deepened inequality and misery," said Fernandez. "The global financial architecture serves only to concentrate wealth in the hands of very few," he added.
Fernandez specifically pointed a finger at the International Monetary Fund for "applying excessive charges" to many countries that "make it unbearable to carry the weight of foreign debt".
"They are funding Ukraine amid a war while simultaneously imposing excessive interest charges."
The head of state joined the chorus of left-leaning leaders in the region who called for an end to the US blockade of Cuba and the removal of the island from the list of countries that sponsor terrorism.
"Argentina is firmly opposed to the use of unilateral coercive measures and the adoption of discriminatory trade practices. The perpetuation of the blockade against Cuba is inadmissible," he said.
He also called for an immediate end to the sanctions imposed by the US on Venezuela, expressing concern about the adverse impact these restrictions have had on the living conditions of the Venezuelan population, which he says, led many to seek refuge abroad.
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