On Monday 23 November, the Ministers of the 27 Member States responsible for development stressed the importance of avoiding a major public debt crisis in the EU’s developing country partners. The videoconference of the Foreign Affairs Council in its ‘development’ format was largely devoted to the link between the EU’s global response to the Covid-19 pandemic and sustainable development (see EUROPE 12604/7).
“We agreed that we need to avoid a situation where some countries in insolvency might trigger a full-fledged debt crisis, with even more devastating consequences for the global economy. Fast action is needed, and the clock is ticking. Debt relief - well managed - is in the interest of every one of us”, said the High Representative of the Union for Foreign Affairs and Security Policy, Josep Borrell, at the end of the session. He mentioned the €183 million EU contribution to the IMF Debt Relief Fund announced at the G20 Summit (see EUROPE 12607/10).
“A holistic approach to debt relief is essential. We need to move beyond the debt issue and adopt a new model of sustainable financing, particularly in Africa. We look forward to our partnership with the IMF”, the High Representative added.
In the view of the Commissioner for International Partnerships, Jutta Urpilainen, “these debt relief efforts will be crucial to getting the Sustainable Development Goals back on track.
Also discussed was how the Team Europe approach (the EU, its Member States and financial institutions) “can best complement debt relief efforts at multilateral and country levels and support partner countries in preparing a resilient, sustainable and green recovery”, according to Mr Borrell.
Programming of aid under this Team Europe approach will start as soon as the EU’s 2021-2027 Multiannual Financial Framework is adopted.
IMF Managing Director Kristalina Georgieva, EIB President Werner Hoyer, EBRD President Odile Renaud-Basso, and Paris Club President Emmanuel Moulin participated in the discussions.
Gender equality. The ministers also discussed the 3rd Action Plan on “gender equality in external relations”, which will be presented by Borrell and Urpilainen on Wednesday 25 November.
“Ministers sent a strong signal: we are determined to accelerate our work towards gender equality and to safeguard and promote the human rights of women and girls. We will do that in all areas of EU external action, including trade, the Green Deal, and the ‘Women, Peace and Security’ agenda”, Borrell said.
Poland and Hungary prefer to talk about equality of the sexes and not of ‘genders’.
Jutta Urpilainen mentioned the negotiation of the post-Cotonou partnership agreement, the last points of which - notably migration - have remained unresolved since 6 July. (Original version in French by Aminata Niang)