A crisis of people, not numbers: UN  Secretary-General stresses on Sevilla Commitment to restore global progress - Trade Treasury Payments

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A crisis of people, not numbers: UN  Secretary-General stresses on Sevilla Commitment to restore global progress

The global development engine is sputtering, and the world needs to act now. This was the centre of the message delivered by António Guterres, the UN Secretary-General, today as he addressed a packed hall of dignitaries at the 4th Financing for Development Conference in Sevilla.

For decades, sustainable development has united nations across the wealth spectrum. The world saw real progress in terms of a decline in poverty, improvement of healthcare systems, children’s access to education, more opportunities for women and girls, and social safety nets growing stronger. However, today, this progress hangs in the balance.

“We are living in a world where trust is fraying and multilateralism is strained,” the Secretary-General stressed, his words resonating through the conference hall. “A world with a slowing economy, rising trade tensions, and decimated aid budgets. A world shaken by inequalities, climate chaos, and raging conflicts.” 

In his remarks, the Secretary-General stated that the 2030 Agenda “Sustainable Development: our global roadmap to a better future” faces an existential threat as 75% of the sustainable development goals are falling behind schedule, and closing the gap would require more than $4 trillion annually.

“This is not just a crisis of numbers. It’s a crisis of people. Of families going hungry. Of children going unvaccinated. Of girls forced to drop out of school,” the Secretary-General mentioned.

From highlighting the connection between peace and development to outlining a three-pronged strategy for global financial reform, UN Secretary-General António Guterres delivered a powerful remark in Sevilla with a focus on the “Sevilla Commitment”, a global pledge to repair how nations receive support during their development journey.

Global sustainability solution for development under the “Sevilla Commitment”

The Secretary-General discussed three major call to action. 

1. Getting quick financial resources

The first priority focuses on mobilising resources at an unprecedented scale and speed. Countries must strengthen their domestic resource mobilisation, improving tax systems, fighting illicit financial flows, and investing strategically in education, healthcare, social protection, decent jobs, and renewable energy.

The Sevilla Commitment calls on developed nations to double their aid for domestic resource mobilisation. This represents a strategic shift, helping countries build sustainable revenue systems rather than depending on external support indefinitely.

In this, perhaps most ambitious is the proposal to triple the lending capacity of Multilateral Development Banks and rechannel Special Drawing Rights to unlock additional financing for developing nations. This could generate hundreds of billions in new capital for sustainable development.

The framework also addresses private capital, calling for innovative financing mechanisms that mitigate currency risks, blend public and private finance effectively, ensure equitable risk-reward sharing, and reform financial regulations to encourage investment in frontier markets.

2. Fixing an unsustainable debt system

With developing countries spending $1.4 trillion annually on debt service, the current system has become unsustainable, unfair and unaffordable, according to the Secretary-General.

For this, there is a need to create a single debt registry to improve transparency, promote responsible lending practices, lowering capital costs through debt swaps and improved debt management, and implement automatic debt service pauses during emergencies.

Unsustainable debt burdens have forced many countries to cut critical spending on education, healthcare, and infrastructure, precisely the investments needed to achieve sustainable development goals. The proposed reforms could free up significant fiscal space for priority investments.

3. Democratising global finance

The third solution addresses a fundamental power imbalance: developing countries have limited influence in the institutions that govern global finance, despite being most affected by their decisions.

A new borrowers’ forum will amplify the voices of debtor nations, fostering transparency, shared learning, and coordinated action on debt issues. The Secretary-General also called for a fairer global tax system that is shaped by all, not just a few.

Forward: An investment in the shared future

Throughout his address, the Secretary-General emphasised that this conference represents something far more profound than a discussion about money or aid. “This conference is not about charity,” he stated. “It’s about restoring justice and lives of dignity. This conference is not about money. It’s about investing in the future we want to build, together.”

This framing resonated with development practitioners who have long argued that sustainable development represents an investment with enormous returns rather than a cost.

The conference continues through July 2, with major announcements expected from G20 nations on financing commitments. Trade Treasury Payments (TTP) is an official media partner of the 4th Financing for Development Conference in Sevilla.