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French President Emmanuel Macron is hosting the Summit for a New Global Financial Pact in Paris this week, which aims to strike a new post-World War II pact between high-income nations and those most at risk from climate change and crippling debt.
However, with key players not attending, including U.K. Prime Minister Rishi Sunak, U.S. President Joe Biden, and Indian Prime Minister Narendra Modi, serious doubts remain over whether the decisions made during the summit will translate into meaningful action. There are also major disagreements between French organizers and participants over reforming international institutions, including multilateral development banks.
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About the author
Raj Kumarraj_devex
Raj Kumar is the President and Editor-in-Chief at Devex, the media platform for the global development community. He is a media leader and former humanitarian council chair for the World Economic Forum and a member of the Council on Foreign Relations. His work has led him to more than 50 countries, where he has had the honor to meet many of the aid workers and development professionals who make up the Devex community. He is the author of the book "The Business of Changing the World," a go-to primer on the ideas, people, and technology disrupting the aid industry.
