Madam Chair,

I have the honour to deliver this statement on behalf of the Group of 77 and China.

At a time of heightened uncertainty in the global economy, the Group reaffirms the critical importance of macroeconomic stability, structural transformation, and resilient and inclusive growth strategies that support developing countries in their implementation of the 2030 Agenda for Sustainable Development as well as their national development priorities.

International cooperation must be grounded in solidarity, equity, and the right of every country to pursue policies tailored to its national circumstances. We must build an open and steady recovery of the world economy, step up macro-economic policy coordination, and create a peaceful, stable, open and inclusive environment for international development.

Therefore, we stress the need to address systemic imbalances in the global economy through a more inclusive and development-oriented macroeconomic policy environment, as well as sound national macroeconomic fundamentals. This includes addressing the high cost of capital for developing countries, improving access to international liquidity, and strengthening the rules-based, non-discriminatory, open, fair, inclusive, equitable and transparent multilateral trading system with the World Trade Organization at its core. We also support advancing WTO reform so that it can better serve all our economies.

Madam Chair,

The Group reaffirms the need to ensure that developing countries have the necessary fiscal space for achieving the SDGs and their national development objectives. However, the high debt-servicing obligations and borrowing costs continue to constrain fiscal space and divert resources. The Group therefore supports strengthened international cooperation to address debt vulnerabilities and welcomes efforts towards a more effective, predictable and equitable international debt architecture that facilitates concessional and blended finance, de-risk private investment, and facilitate access to capital markets on fair terms.

The Group emphasizes that effective domestic resource mobilization is best achieved when national efforts are matched by international support and cooperation, including official development assistance, concessional financing, capacity building, knowledge sharing, technical cooperation, and inclusive and effective international tax cooperation. At the same time, the sovereign right of each country to determine its own national priorities and fiscal strategies must be fully respected.

The Group reiterates its condemnation of the imposition of unilateral coercive measures that are contrary to International Law, especially in the Global South, which seek to deny its right to development, including the drawing up of false lists of alleged state sponsors of terrorism.

Madam Chair,

Financial inclusion also plays a vital role in unlocking sustainable development. The Group emphasizes the need to expand access to affordable finance for micro-, small and medium enterprises, including women- and youth-owned businesses. Efforts to enhance digital literacy and participation in the digital economy can strengthen financial resilience and help ensure that no one is left behind.

The Group stresses the need to scale up long-term, affordable, and predictable financing for developing countries, aligned with their national development strategies.

Going forward, we support a focused and inclusive approach to ensure the full, timely, and effective implementation of the global financing commitments. Such a process must preserve hard-won gains that support the priorities of developing countries and advance progress across all dimensions of sustainable development.

The Group of 77 and China underscores the adoption of the Compromiso de Sevilla, the outcome of the Fourth International Conference on Financing for Development. This renewed framework builds on the Addis Ababa Action Agenda and aims to urgently close the $4 trillion annual financing gap, catalyze investments in developing countries, and advance reforms to the international financial and development cooperation architecture. As progress on the 2030 Agenda remains severely off track, the, timely, and effective implementation of the Compromiso de Sevilla is critical.

 Further, the Group calls for a focused and inclusive follow-up that preserves gains for developing countries and drives key priorities: a more equitable international financial system, enhanced development cooperation aligned with national strategies, fair and open trade, increased private investment, wider access to science and technology, and urgent responses to high capital costs and severe debt challenges.

In this context, the Group of 77 and China will table six draft resolutions under the two agenda clusters discussed today, each containing concrete policy proposals to advance support for developing countries in pursuing their national development priorities and accelerating the implementation of the 2030 Agenda for Sustainable Development.

The Group stands ready to engage actively and constructively in the discussions and negotiations of these resolutions. Our aim is to ensure that developing countries are equipped to effectively address the persistent financing challenges they face and to strengthen global solidarity in advancing inclusive and sustainable development for all.