‘LDCs have challenges to achieve sustainable development goals’

By A Staff Reporter,Kathmandu, July 18: Finance Minister Dr. Prakash Sharan Mahat has said that there are many challenges in the least developed countries. 

Speaking at the third meeting of G20 Finance Ministers and central bank governors, which started on Monday in Gandhinagar, Gujarat, India, Minister Dr. Mahat said that the lack of revenue sources and increasing debt of the least developed countries have added challenges to achieving sustainable development goals.

According to a press statement from the Secretariat of Finance Minister Mahat, he said that due to lack of resources, it was not possible to increase per capita investment in the health sector. 

He called on the international community to provide subsidised, convenient, flexible grants and resources and to provide additional resources.

India, America, China, Japan, France and Russia and other member countries and organisations like World Bank, International Monetary Fund (IMF), Asian Development Bank and Asian Infrastructure Investment Bank are participating in the conference.

In the meeting, topics such as world economy and world health, sustainable finance and infrastructure development, international financial scenario, international tax system and financial inclusion, among others, were discussed in the meeting.

According to the statement, issues such as cooperation in public debt management, regulation and supervision of crypto transactions, use of technology in public infrastructure were raised in the meeting. 

The conference will continue till Tuesday.

Minister Dr. Mahat went to India to participate in the G20 Finance Track meeting on Sunday.