Bringing out the Solution

The Wall Street Journal


The delegates in the Economic and Financial committee (ECOFIN) were all set to introduce sus-tainable financial strategies with their working scripts. The working script laid down significant sentiments of financial sustainability, promotion of financial inclusion, promotive measure and some effective measures.


Interviewer: The delegate mentioned that Columbia has strategies, solutions, policies etc. How-ever, there hasn’t been significant mention of how the country plans on implementing them, and if yes then mention the progress made, if any.


Delegate of Columbia: The Colombian government has implemented three kinds of long-term development policies for green growth and financial other financial institutions. They include strategic policies, operational policies and specific incentives.

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Interviewer: How can problems related to social, environmental and political aspects which have been affecting the financial systems of their countries?


Delegate of Columbia: Our government is working on it. Important policies are being improvised in our system. However, there are no results obtained.

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Interviewer: What is GILLS strategy and is the aim of this strategy? How will it help us to im-prove the international financial system?


Delegate of Venezuela: GILLS strategy concentrates of both, the world economy and sustainable financing. It stands for Global Greener Deal, Injection of funds into the IMF, Liberalization of busi-ness policies, Loans provision, SDR provisions (GILLS). This strategy was Meade to immoderate sustainable funds with the help of RMF.


The interview with delegates has given us a clearer vision of the current scenario and the future outcome of the improvised policies and strategies. As answered by the Colombian delegate, new financial policies are being incorporated but results are not visible till now. But it is hoped that in-novative solutions like GILLS policy, as stated by Venezuelan delegate, would surely help our global financial system to evolve and reach new heights.

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