United Nations, New York – The UN Secretary General António Guterres, called for debt relief that is timely and effective in his remarks to more than 70 heads of state and 40 heads of government at the launch of the 81st Session of the UN General Assembly.

There is broad agreement among world leaders that we need faster and more efficient debt relief,” said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network. "Unfortunately, we are not moving forward stronger debt policies to deal with growing challenges in the global economy." 

This fall the UN hosts discussions to advance debt policy commitments agreed in recent summits. At the Fourth Financing for Development Conference held in Seville, Spain, last year, world leaders pledged to reduce debt burdens in developing countries with debt relief, aid, more responsible lending and improving transparency and curbing corruption. The UN agreement in Seville committed to start an intergovernmental process to move forward improvements in the financial system.

Read the UN Secretary General's address to the General Assembly here.