2 July 2025 - A new mechanism offering debt-distressed countries a way to coordinate action and amplify their voice in the global financial system, has been launched at the UN’s pivotal sustainable development conference in Sevilla.
The Borrowers’ Forum is being hailed as a milestone in efforts to reform the international debt architecture, supported by the UN and emerging as a key part of the Sevilla Commitment outcome document.
“This is not just talk - this is execution,” said Egypt’s Minister of Planning and Economic Development, Dr Rania Al-Mashat. “The Borrowers’ Forum is a real plan, driven by countries, to create a shared voice and strategy in confronting debt challenges.”
Rebeca Grynspan, Secretary-General of UN Trade and Development (UNCTAD), said developing nations often face creditors as a united bloc while negotiating alone. “Voice is not just the ability to speak — it’s the power to shape outcomes. Today, 3.4 billion people live in countries that pay more in debt service than they do on health or education.”
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