U.N. Secretary General Antonio Guterres accuses credit rating agencies of being controlled by G-7, with unfair ratings for S.I.D.S.
St. John’s, Antigua and Barbuda – United Nations Secretary-General Antonio Guterres recently pointed to power relations and dynamics as a key reason for unfair credit ratings against Small Island Developing States (SIDS). His remarks were made while addressing a press conference on the Bridgetown 3.0 initiative, one of the crucial programs being adopted by the 4th International Small Island Developing States Conference.
The Conference, held from May 27 to May 30, 2024, in Antigua and Barbuda, provided a platform for SIDS leaders to highlight their unique vulnerabilities and advocate for reforms to the international financial system. Guterres’s statements underscore the call for a more equitable assessment of SIDS’s financial health, urging international bodies to reconsider methodologies that often disadvantage these vulnerable nations.
