Top Highlights

• Presenting the Secretary-General’s report on international financial system and development (document A/77/224), she observed that the current system has not allocated resources properly or dealt with risks and shocks or changed with the world.
• Many countries have borrowed at near-zero interest rates, but with rates rising, there are risks of market volatility.
• 59 States reported recovering nearly $10 billion in proceeds of corruption frozen, blocked or confiscated since 2010
• warned that her continent is not on track to meet its goal of eradicating poverty in one generation.
• Pointing out that the volume of African trade remains low, at 3 per cent of global trade, she stressed that expanding and diversifying Africa’s participation in international trade and global value chains will enable it to reduce poverty on a large scale and transform its economy.

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