Muizzu Urges Stronger Link Between Debt Relief and Climate Finance
President Dr Mohamed Muizzu called on the international community to strengthen the connection between debt relief and climate finance, aiming to alleviate the debt challenges faced by Small Island Developing States (SIDS).
Speaking as Co-Chair of the Strategic Advisory Group for the SIDS Debt Sustainability Support Service, at the side event titled ‘Building Resilient Futures: The Global SIDS Debt Sustainability Support Service’, he underscored the vulnerability of SIDS and their ongoing struggles with debt sustainability. He advocated for a closer integration of debt relief and climate finance, recommending that the SIDS Debt Sustainability Support Service (DSSS) prioritise securing more favourable debt relief conditions, including lower interest rates and extended repayment terms.
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Muizzu also proposed reallocating Special Drawing Rights (SDRs) through international financial institutions to enhance the financial stability of SIDS and reduce their exposure to external shocks. He emphasised the need for partnerships with Multilateral Development Banks (MDBs) and International Financial Institutions (IFIs) to unlock investments and create new economic opportunities.
He further called on SIDS to strengthen their productive capacities and take ownership of their development by building robust institutions, empowering communities, and fostering collaboration between the government and private sector. Muizzu stressed the need for diversification, noting that it is crucial for SIDS to navigate an increasingly volatile global economy successfully. He expressed optimism that the DSSS can drive substantial change, create fiscal space for sustainable growth, and help SIDS not only survive but thrive.
This marks Muizzu’s first official event following his arrival in New York this morning. The side event was co-chaired by the Governments of the Maldives, Antigua and Barbuda, and New Zealand, in collaboration with the International Institute for Environment and Development (IIED) and the SIDS Unit within the United Nations Department of Economic and Social Affairs (UN DESA).
Muizzu Stresses Global Respect as Path to National Progress
President Dr Mohamed Muizzu has stated that the pathway needed for national development can be achieved by acquiring respect on the global stage.
Emphasising the crucial role of making our voice resonate in international forums, the President made these remarks in a video message publicised to celebrate the 59th anniversary of the Maldives’ membership at the United Nations.
Muizzu underscored the importance of voicing out in the international arena and becoming a state that respects and is respected in the international community.
Muizzu revealed that his most prominent role in the United Nations General Assembly (UNGA) would be to present his vision for the progress of the Maldives. He remarked that his utmost focus at the United Nations would be to convey his vision for the Maldives, voicing the desires and feelings of the Maldivian people to the international community.
Muizzu highlighted the crucial role of the Maldives at the United Nations. He also conveyed his desire for the Maldives to build upon this path, taking up more responsibilities in its endeavour for progress.
Concluding his message, Muizzu reiterated his commitment to shaping and implementing the Maldives’ foreign policy centred on a “Maldives first” approach. He reassured the Maldivian people of this commitment.
Muizzu arrived in New York on this morning to attend the 79th session of the United Nations General Assembly (UNGA). This marks his first visit to the UN and the United States since taking office in November of last year.
Upon his arrival, Muizzu was welcomed by Dr. Ali Naseer Mohamed, the Permanent Representative of the Maldives to the UN. During this visit Muizzu is scheduled to address different meetings and events of the 79th session of the UNGA, as well as take part in a special open debate at the UN Security Council.
In addition to his UN engagements, Muizzu will attend the “Summit of the Future,” a key event happening alongside the UNGA. He is also scheduled to deliver a speech at Princeton University, addressing both faculty and students. Muizzu is accompanied by a high-level government delegation during this visit.
