The following text is a transcript of a video statement by Bodo Ellmers providing an overview of the final day of the FfD4 conference in Sevilla. You can find the video here.

The final day of the conference focused on systemic issues – namely, the reform of the international financial architecture, including institutions like the IMF and World Bank.

A central theme was Special Drawing Rights (SDRs). Many countries from the Global South voiced disappointment that the conference could not agree on a new SDR allocation or an improved mechanism for distribution – something they see as essential in a context of shrinking grants and declining official development assistance.

Another key issue was the role of credit rating agencies. Delegates from the Global South highlighted how unfair ratings force their countries to borrow at significantly higher interest rates, making access to private finance more costly. The discussion centred on the need to reform this system.

Global Policy Forum Europe also co-hosted a well-attended side event on debt architecture reform, which generated lively discussion and strong engagement from the audience.