The president of Colombia, Gustavo Petro, said this Friday that the disaster that the world is experiencing started with that of 2008 and is attributable to the local weather disaster “that may extinguish humanity” and of which he stated that it wants a “radical answer, not from cloths.”
“The battle is the product of the rising stress that the local weather disaster produces within the productive processes of humanity,” stated Petro on the closing of the 58th annual meeting of the Colombian Banking Affiliation (Asobancaria), held within the Caribbean metropolis of Cartagena.
The president added that “each financial disaster begins by being a monetary disaster, that’s the alarm that rings the bell,” following which comes “the paralysis of manufacturing, the autumn of jobs and starvation,” amongst different penalties.
In accordance with Petro, a monetary disaster started in 2008 that has since decided “a worldwide financial stagnation, which works via the Covid period.”
“What Covid did was paralyze capitalism for kind of two years for one easy cause, the workforce stopped going to work because of the barracks that we expertise around the globe,” he stated.
The president added that “we now have not come out of this disaster (…) quite the opposite, what we’re seeing is a deepening of the disaster” that has given rise to what “the Davos Discussion board specialists name ‘multicrisis’.”
Nevertheless, Petro defined that in his opinion this widespread phenomenon, which is inflicting wars just like the one in Ukraine, is definitely “attributable to the local weather disaster.”
“The local weather disaster has the potential for human extinction, in keeping with science, not in keeping with politics,” he stated and regretted that this phenomenon “doesn’t enter these boards” regardless of being “the mom of issues.”
Because of this, the president indicated {that a} conflict of the “international monetary system versus international public powers” is coming by which it is going to be essential to see “if they’re complementary or contradictory.”
The voice of the banking sector
For his half, the president of Asobancaria, Jonathan Malagón, informed Petro that this conference “was an area for dialogue and a listening train to current the voice of the monetary sector” and help the Authorities within the financial reactivation of the nation.
“We’re not a union that proclaims itself ‘stick within the wheel’, we don’t type opposition, we type a crew,” stated Malagón.
The president of Asobancaria added that the union he heads isn’t “a bunch of 4 bankers” however “the voice of 141,000 individuals who work within the sector.”
“We’re the voice of 30 banks and 67 credit score institutions, we’re not the voice of fascism, we’re the voice of a elementary system for the Colombian financial system, which represents 5% of GDP and pays 10% of taxes,” he claimed.
Malagón highlighted the solidity of the Colombian monetary system, which he stated isn’t susceptible to struggling a disaster even though 2023 was some of the tough years for banking because of the nation’s macroeconomic context, excessive inflation, excessive rates of interest and low financial development.
“Reactivating the financial system is our goal,” stated Malagón, who confused {that a} basis of that goal “needs to be credit score,” which continues to be low in comparison with different nations since Colombian credit score inclusion is 35%, whereas the typical in nations of the Group for Financial Cooperation and Improvement (OECD) it’s 50% and in Canada, it’s regarding 75%.
In that sense, he proposed three development initiatives to Petro primarily based on productive improvement, housing and sustainability, so as to additionally stimulate the favored financial system.
Colombia / EFE
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2024-06-10 20:31:59
