Statement by Mr. HAYASHI Takanori, Counsellor, Permanent Mission of Japan to the United Nations, EOV after the vote on Item 16 (c): “External debt sustainability and development”, at the 22nd Meeting of the Second Committee

Thank you, Mr. Chair, and good morning colleagues.
 
Japan would like to begin by conveying our gratitude to the Co-Facilitators, Mr. Ivo Miguel Rubio of Angola and Mr. Rodolfo Reta Haddad of Mexico, for their tremendous efforts for this important resolution. We also extend our appreciation to all the delegations for their engagement in the negotiations.
 
Although Japan was committed to engaging constructively in the negotiations, we regrettably have no choice but to abstain on this resolution, considering the following points:
 
First, on debt issues, constructive discussions between creditors and debtor countries based on the engagement of the IMF and World Bank are necessary for achieving effective debt resolution. This point was secured in Compromiso de Sevilla. However, OP43 is not consistent with Compromiso de Sevilla; we should have kept its integrity.
 
Second, Japan is concerned over initiating a new intergovernmental process at the UN, as it would make the debt architecture more complicated and it will not be an effective solution for debt resolution. Therefore, regrettably, Japan must disassociate from paragraph 45 of this resolution, which recalls paragraph 50(f) of the Compromiso de Seville on the initiation of the inter-governmental process on debt at the United Nations. We kindly request this position be reflected in the records of the meeting.
 
Nevertheless, this does not mean that we no longer remain committed to achieving our common goals in this field of debt and debt sustainability. To ensure substantive progress, the international community should seek common ground based on trust where mutual agreement can be found. Unilateral changes of texts without consultations after the negotiations are not consistent with usual practice based on good faith. Japan looks forward to constructive discussions to achieve a better future based on mutual trust.
 
I thank you.