Libya calls for reform of the global financial system and increased development financing.
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New York, April 27, 2026 (LANA) – Libya reiterated its call for reforming the global financial system and strengthening development finance to make it more equitable and responsive to the needs of developing countries.
This came in a statement delivered by the Deputy Permanent Representative of Libya to the United Nations, Essam Mohamed Al-Qaffa, at the Economic and Social Council's forum on financing for development.
The statement, published on the mission's official X platform on Monday, stressed the importance of activating international cooperation to address the sovereign debt crisis and promote a more equitable financial system. It also emphasized the need to enable Libya to utilize its frozen assets to support its development path and achieve economic stability.
Libya also expressed its concern about the repercussions of conflicts in the Middle East on the global economy, stressing the necessity of supporting the Palestinian people and addressing their humanitarian needs. It called for tangible results, including debt relief, investment in clean energy, and bridging the technological gap between countries.
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