In an exclusive interview with Prensa Latina, he maintained that “only good things can come out of the discussion that is being facilitated” and highlighted that “seeing the diversity of high-level actors who prioritized it in their agenda and are here in Havana, means that there is interest and they consider that there are possibilities and opportunities.”
Representatives of various international entities meet in Havana for two days to discuss Financing for Development and its particularities in the case of Cuba.
The event was convened by the Ministry of Economy and Planning, the Central Bank and the UNDP, in alliance with the Ministry of Foreign Trade and Foreign Investment, the Ministry of Foreign Affairs, and in coordination with the Central American Bank for Economic Integration.
According to Muschett, this is a first step and “the idea is that very concrete actions, monitoring mechanisms, will emerge from here, bringing this to the point that it translates into a tangible, material impact, and an improvement in the quality of life.” of the Cubans.”
Such a purpose is, he added, “at the center of our mandate and what we try to advance, hand in hand with the Government and based on its priorities.”
When asked about the obstacle posed by the blockade imposed by the United States against Cuba, the regional director of the UNDP pointed out that, indeed, the limited access to capital and financial markets, and also the limitations in being part of international financial institutions , particularly aggravate the national context.
However, he continued, there are also strengths, such as the fact that the country advanced the Integrated Financing Framework which, as a tool “is absolutely essential to be able to plan.”
He added that Cuba has a vision outlined towards 2030, in addition to very clearly defined development strategies and priorities, so “this is not a discussion about financing exclusively, but rather how this financing can allow these priorities to advance.” In this sense, he gave as examples the energy transition or the increase in productivity, among others.
When specifically highlighting the country’s achievements in terms of decentralization, he indicated that if resources are managed to be unlocked, there are great possibilities that a spillover will occur at the national level, reaching the territory, and this can allow progress to be made much faster.
FINANCING FOR DEVELOPMENT AND AGENDA 2030
The senior executive of the UNDP affirmed that one of the main challenges for the fulfillment of the 2030 Agenda and the Sustainable Development Goals (SDGs) – to which all United Nations states committed – is precisely the lack of financing for the development.
“Ironically, Secretary General António Guterres has repeated it, he said it here in Cuba at the G77 and China meeting, it is not that there are not enough resources, it is that the global financial architecture is outdated, it is unfair, and it does not guarantee that that existing capital can arrive and be aligned with the SDGs,” he declared.
Muschett argued that discussions are underway for a change in this global financial architecture, “which hopefully will come to fruition, but we know that they will not be immediate.”
For that reason, he continued, “we as a region have to take the reins of our future, and those of us who find ourselves in leadership positions today have to do everything we can, with what we have today, within its imperfections.”
He mentioned that the UNDP has a long history in financing for development and referred in particular to the Sustainable Finance Hub that works closely with the office for Latin America and the Caribbean.
He indicated that right now they are here, in Havana, having a discussion about how all these global, regional challenges, of the small island developing countries and also those of Cuba, can be addressed in a creative way to mobilize resources and capital that can promote sustainable development.
In particular reference to this Caribbean nation, he stressed that the Conference was not arrived at from scratch, but rather a joint effort has been made between the UNDP and other United Nations agencies to develop an integrated national financing framework for the SDGs.
This provides “a very clear reading of where those gaps are and those priorities that the (Cuban) Government establishes in order to channel these resources,” he pointed out.
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