74 UNGA: Statement by the Cuban Delegation at the Segment on Macroeconomic Policy Questions (Item No. 17) Second Committee. New York, October 10, 2019.

Mr. Chairman,

Cuba associates itself with the statements delivered by the distinguished delegations of the State of Palestine on behalf of the Group of 77 and China; the Plurinational State of Bolivia on behalf of the Community of Latin American and Caribbean States (CELAC); and Belize on behalf of the Alliance of Small Island Developing States.

For several decades now, developing countries have strived for a more just, non-discriminatory, inclusive international order that allows growth and development for all and closes the gaps with the developed countries. Today, however, for the majority of the countries of the South, the international environment continues to be an obstacle for the materialization of the achievement of their Right to Development, which is enhanced by the growing erosion and weakening of the multilateral framework.

The fulfillment of the 2030 Agenda for Sustainable Development and the Addis Ababa Action Agenda will only be possible through a real political will to mobilize additional, predictable and unconditional resources so that developing countries can meet their development goals.

It is enough that we have to reiterate every year that very few developed nations fulfill their commitments to offer 0.7% of the GDP as Official Development Assistance, as illustrated by the fact that in 2017 it only accounted for 0.31% of all donor countries´ GDP. Enough of squandering indispensable resources for the implementation of the 2030 Agenda and the development of our peoples in war and military industry, just as it is shown by the record U.S. military budget, enough to implement many of the objectives and goals of the 2030 Agenda.

Structural changes in the international economic, commercial and financial spheres are urgently needed if we wish to put an end to the underdevelopment of our peoples. Developing countries must have a larger representation, equity and participation in the mechanisms of global economic governance.

Mr. Chairman,

We support the external debt relief, including the cancellation and restructuring of the debt of the nations of the South, particularly the poorest and needy. It is necessary to implement a multilateral mechanism for the renegotiation of sovereign debts which allows for a fair, balanced and development-oriented treatment.

We must defend and strengthen the current rules-based, open, transparent, inclusive and non-discriminatory multilateral trading system that guarantees and extends its special and differential treatment provisions to all developing countries. We reject the unilateral, discriminatory and protectionist practices in global trade and within the multilateral framework, in particular by the United States, which hinder our countries' development efforts and undermine the foundations of multilateralism.

We also reject the application of unilateral coercive economic measures as a means of exerting political and economic pressure on developing countries, which are inconsistent with international law and the Charter of the United Nations and which thwarts the full attainment of our rights, including the right to development, as well as the fulfillment of the 2030 Agenda.

Mr. Chairman,

For almost sixty years, Cuba has been resisting an economic, commercial and financial blockade imposed by the United States, which causes great deprivation to the Cuban people and constitutes the main obstacle to the development of my country, the achievement of its macroeconomic policy goals and, consequently, the implementation of 2030 the Agenda.

The negative effects of the blockade, whose cumulative economic damage amounts to $ 922,630 billion dollars, have become worse this year with the activation of Title III of the Helms-Burton Act, which contains broad extraterritorial implications, rejected by many countries. The blockade prevents my country from establishing normal trade, financing or investment relations with the world, from having equal access to the best technologies, from maintaining normal relations with international financial institutions, companies from other countries and in particular with the world´s first economy, that of the United States, all of which threatens the macroeconomic stability of my country.

I conclude by reiterating Cuba's commitment to seeking common solutions to the global macroeconomic challenges.

Thank you very much.