Civil Society FfD Mechanism Launches Communique Calling out Summit of the Future for Failing to Deliver Financial Reform

Today, the Civil Society Financing for Development (FfD) Mechanism issued a communique condemning the failure of UN member states to advance international financial architecture (IFA) reforms during the Summit of the Future. The Mechanism’s statement calls for urgent action at the upcoming Fourth International Conference on Financing for Development (FfD4) to correct course.

The communique criticizes the Summit’s outcome document, the Pact for the Future, for neglecting meaningful reforms, and urges that FfD4 focus on systemic changes, such as addressing global tax abuses and debt reform. The Mechanism emphasizes that the UN, not lender-driven institutions like the IMF or World Bank, should lead these processes.

To read the full communique click on the button below.