BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:6af1763c41b31 DTSTART:20250211T150000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20250211T163000Z LOCATION:New York\, United States of America SUMMARY:FFD4 3rd PrepCom side event: Resolving the Morass - UN Expert Group on Debt Solutions for Africa and SIDS CLASS:PUBLIC DESCRIPTION:Debt has taken a central stage at the Fourth Conference on Fina ncing for Development (FFD4)\, where the issue of debt and development is at a fever pitch\, demanding urgent and decisive action. Developing nation s face mounting debt challenges as unsustainable external debt service now consumes 14% of revenue for the median low-income country—over 2.5 time s the level a decade ago—often surpassing spending on health\, education \, and other essential services. This unsustainable burden is driven by ne t financial outflows\, where new financing is frequently diverted to servi ce external debt. This is both an issue of less money flowing in\, as FDI and portfolio investment have declined sharply\, but also an issue of more money flowing out of these countries\; both measured as the share of exte rnal debt service to exports and government revenues. According to UNCTAD calculations\, two thirds of developing countries experienced deterioratio n of their external debt sustainability between 2017 and 2023 as debt serv ice grew twice as fast as their export and remittance earnings. The outlo ok remains bleak. With principal repayments set to more than double in 202 5 compared to the previous decade'\;s average\, these trends demand no t only solutions to short-term liquidity challenges but also strategies to address debt sustainability\, secure large-scale affordable financing\, a nd promote inclusive growth. And while Multilateral Development Banks (MDB s) and International Financial Institutions (IFIs) serve as a lifeline for affordable financing to developing countries\, their efforts are insuffic ient to offset high debt service costs and bridge the exorbitant developme nt financing gap. Even more troubling\, stagnant growth prospects and risi ng fiscal pressures further exacerbate the challenges\, threatening long-t erm development goals and progress toward the SDGs.Against this backdrop\, African countries and Small Island Developing States (SIDS) are dispropor tionately affected by the debt crisis\, which is further exacerbated by cl imate change. Recognizing the urgency of this issue\, the United Nations S ecretary-General announced the establishment of a Group of Prominent Exper ts on 6 December 2024. The Group has been tasked with advancing actionable policy solutions\, mobilizing political and public support\, and contribu ting substantively to the preparations for the Fourth International Confer ence on Financing for Development (FfD4).Objective: This high-level side event aims to:Convene the Expert Group alongside member states to discuss innovative\, actionable solutions to the intertwined challenges of debt an d development.Distinguish between short-term solutions to liquidity challe nges and effective long-term mechanisms for dealing with unsustainable deb t while debating strategies for building sustainable debt management pract ices.Highlight Africa and SIDS-specific issues\, ensuring their perspectiv es and priorities are central to the FfD4 discussions and reforms to the g lobal debt architecture.Foster dialogue among key policy makers and stakeh olders to build momentum and consensus on addressing the debt crisis effec tively.Structure and Format:Panel discussion to be moderated by Penelope H awkins\, Head of Debt and Development Finance Branch\, UNCTADPanelists:Pru dence Kaoma\, Permanent Secretary\, Ministry of Finance and National Plann ing\, ZambiaH.E. Ali Naseer\, Permanent Representative of the Maldives to the United Nations\, New YorkMahmoud Mohieldin\, Chair of the Expert Group and UN Special Envoy on Financing the 2030 AgendaTrevor Manuel\, Expert G roup Co-Chair (Virtual)Yan Wang\, Expert Group Co-Chair (Virtual)Participa tionThis side-event is open to all participants of the 3rd Prep Com.Regist rationOnline registration is mandatory for all those wishing to attend the meeting.Only accredited organizations may register.https://financing.desa .un.org/accreditation"\; target="\;_blank\n\nView meeting on uncta d.org\nhttps://unctad.org/meeting/ffd4-3rd-prepcom-side-event-resolving-mo rass-un-expert-group-debt-solutions-africa-and-sids DTSTAMP:20261109T072900Z END:VEVENT END:VCALENDAR