Statement by Ms. Julieta Tavakalyan, Third Secretary of the Permanent Mission of Armenia, under the UNGA80 2nd Committee items “Macroeconomic policy questions” and “Follow-up[...]

Thank you, Madam Chair,

As a middle-income and landlocked developing country, Armenia views the discussions under these items as central to identify solutions to the challenges of global economy and enable all developing countries to pursue sustainable and inclusive growth.

The Compromiso de Sevilla, adopted at the Fourth International Conference on Financing for Development, provides a renewed framework to close the global financing gap and make the international financial architecture fit for purpose to respond to evolving challenges. Armenia welcomes its comprehensive actions-ranging from mobilizing investment and addressing debt vulnerabilities to advancing reforms of the international financial system and recognition of the needs of countries in special situations and middle-income countries.

Madam Chair,

The international financial landscape remains uneven. Limited fiscal space, high borrowing costs and reduced concessional flows constrain investment in critical infrastructures and human development. Armenia therefore underscores the need for a more inclusive and developmentoriented financial system that ensures fair representation of developing countries in global decision-making and delivers affordable, long-term finance to strengthen their resilience and support the implementation of the 2030 Agenda. In this regard, we also emphasize the importance of introducing complementary measures beyond GDP to better capture countries' diverse vulnerabilities and ensure more equitable access to financing.

Rising debt service burdens continue to divert resources from sustainable development. We echo the call for predictable, transparent and equitable debt resolution mechanisms. The forthcoming discussions on debt present an opportunity to foster a more inclusive dialogue on debt sustainability, ensuring that the perspectives of developing and middle-income countries are fully reflected.

We attach particular importance to strengthening trade-related physical and digital infrastructure, promoting equitable and affordable connectivity, and developing productive capacities that enable developing countries to integrate more effectively into regional and global markets. For landlocked developing and Small Island developing States, such measures are vital to overcoming structural constraints, reducing trade costs and achieving sustainable structural transformation.

At the same time, reducing excessive reliance on earmarked funding and strengthening the flexibility and capacity of the United Nations development system are essential to enable timely, coherent and effective responses to the needs of countries and people in vulnerable situations. These efforts are crucial to enhance the system's ability to address multidimensional vulnerabilities, support long-term resilience, and make development gains irreversible.

Looking ahead, our collective efforts should focus on turning commitments into consistent actions and ensuring that development finance supports transformation where it is most needed.

Thank you.