Many countries spend more on duty than healthcare or education. At a conference in Geneva, they discuss ways to get out of the global long crisis Economic development 3.3 billion people live in countries that spend more on duty than healthcare or education. Percentage payments exceed climatic investments in almost all developing countries. This was announced today in Geneva at the opening of the 14th debt conference by Rebka Greenspan, General Secretary of the UN Conference for Trade and Development (Junctad). The meeting discusses the current debt crisis in which many countries of the world have found themselves, and ways out of it, including effective debt management. Politicians, representatives of civil society, academic circles and international organizations take part in the Junctad conference. ~ 60 > “We are found today at the height of the debt and development crisis. Debts that should stimulate the development of countries, instead, make them declare a default, ”said Greenspan. 60 ~ Strong > 62 > 62 > 62 > 62 > 62 ~ 62Debt crisis ~ 60 > she emphasized the need for effective debt management, the key elements of which are transparency, lack of corruption and the rational distribution of national priorities. ~ 60 >~ 60 > 62 > 62 > 62 > 62 > 62 > 62 ~ This, the Green Span emphasized, even if the authorities are conducting an adequate policy in this area, the country can still be in a debt crisis due to external shocks, including pandemia, climate change, trade malformations and a sharp increase in interest rates. All this is outside the control of individual countries. ~ 60 > multilateral institutions are outdated ~ 60 > 62 > 62 > 62“Our global financial architecture imposes high capital costs on developing countries that experience chronic problems of insufficient investment, and we still lack a universal security network, which will protect the country from external shocks, and a multilateral financial system that can provide available long-term resources on the necessary scale,” the head said Junctad. ~ 60 > in 2023 developing countries on average spent 16 percent of their export income on their debt, which is more than three times higher than the established 5 percent limit. At the same time, multilateral tools could not adapt to solving current problems, some countries have been waiting for restructuring for years and cannot freeze debts due to the lack of the necessary mechanisms, the Green Span noted. 62 ~“One of the reasons for additional difficulties in restructuring the debt is the changing landscape of creditors. Almost two-thirds of the debt of developing countries are currently belonging to private creditors who act on other principles than traditional bilateral creditors, ”said the general director of the Junktad. countries spend huge amounts that could otherwise be invested in development. This only exacerbates the inequality between the countries and within the countries. Practicals will be offered at the conference Solutions ~ 60 > 62 ~ at the conference, the Green Candida noted, the issues of improving debt management, the creation of innovative debt instruments and the development of institutional potential. “uniqueness of this conference It consists in its practical orientation. Here we are not only for diagnosing problems, but also for exchanging specific tools, strategies, experience and innovations that can be translated into reality, ”said the head of the Junktad. ~ 60 > updated version of the management system debt 60 ~/h2 > ~ 60 > she announced the start of the next generation of debt management and financial analysis – DMFAS 7. For more than 45 years, this JUNTADA system has supported more than 60 countries in the management of state long, ensuring transparency and proper management. “new version is a big step forward. It complies with current technologies and office requirements, ”explained Green Span. & Amp; nbsp;