Time to change perspective on public debt: State Finance Minister

Thursday, 20 April 2023 00:55 - - {{hitsCtrl.values.hits}}

Speaks at ECOSOC, insists change of perspective will allow countries to support developing nations

State Finance Minister Shehan Semasinghe

State Finance Minister Shehan Semasinghe has highlighted that it is time to change the perspective on public debt and its policies, to enable countries to overcome their ongoing challenges.

Speaking at the United Nations Economic and Social Council (ECOSOC) panel, Semasinghe called for a change of perspective on public debt to enable countries to rise above challenges and foster economies that support the creation of wealth and sustainable development ‘in a spirit of true multilateralism’.

Taking to Twitter, the State Finance Minister insisted that a change of perspective would allow countries to collaborate to support developing nations, and would address the challenges of the people’s world based on inclusion, solidarity and consultation.

Semasinghe is also due to attend the report launch of the United Nations Development Programme’s (UNDP) Tax for SDGs Initiative yesterday, titled ‘SDGs and Taxation: Lessons Learned and Best Practices from the Ground’ at 2023 UN ECOSOC Forum and will join the ministerial-level discussion on ‘SDGs and Taxation’ with insights from Eswatini, Rwanda, and Sri Lanka.

The Ministry of Foreign Affairs of Norway State Secretary Bjorg Sandkjaer, UNDP Administrator Achim Steiner, Eswatini Finance Minister Neal Herman Rijkenberg, Permanent Representative of Rwanda to the UN Claver Gatete, University of Massachusetts Amherst Professor of Economics Jayati Ghosh, UNDP Sustainable Finance Hub Director Marcos Neto and Finland Foreign Affairs Ministry Development Financing Ambassador Riikka Laatu will also be on the panel.