Statement by H.E. Ambassador ISHIKANE Kimihiro, Permanent Representative of Japan to the United Nations, at the Peacebuilding Commission (PBC) Ambassadorial Level-Meeting with the International Monetary Fund (IMF)

2021/7/16
(Check against delivery)

Thank you, Chair, for convening this meeting. I also thank Mr. Bousquet and Mr. Fernandez-Taranco for their briefings.
 
The IMF plays a crucial role in helping fragile and conflict-affected states through its support for restoring macroeconomic stability and strengthening institutions and capacities. Let me highlight three points in this regard.
 
First, restoring macroeconomic stability in fragile states is an enormous challenge. The Fund's tools for debt service relief and emergency assistance have helped these states by allocating resources to meet their immediate needs. At the same time, debt sustainability must be respected by all lenders, and the IMF has a critical role to play in this respect.
 
Second, the Fund has long provided technical assistance to fragile states to build key financial institutions, including central banks, finance ministries and tax authorities. Independent and accountable institutions are indispensable to protect the already volatile economy and finance against political interests, both domestic and external. Again, the IMF has an irreplaceable role to play.
 
Japan is the largest contributor to the IMF's capacity development programs, having provided 730 million USD to date. Japan has supported, among other initiatives, the programs to restore public finance management functions in several African countries, as well as the projects in West Africa to strengthen core customs procedures and controls, facilitate trade and contribute to regional integration.
 
Finally, I believe the PBC and the IMF could add more value to their work by collaborating more closely. The PBC can provide the IMF with the political context regarding each state, while the IMF can share its analysis on that state's capacity to manage its finance and eventually stand on its own feet. Japan looks forward to enhanced collaboration in the future.
 
I thank you.