A/RES/73/220 International financial system and development increase and a financial sustainability framework, and acknowledging als o that, in October 2016, the Chinese renminbi officially became the fifth currency in the special drawing rights basket, pursuant to the decision taken by the Executive Board of the Fund in November 2015, 1. Takes note of the report of the Secretary-General; 11 2. Recognizes the need to continue and intensify efforts to enhance the coherence and consistency of the international monetary, financial and trading systems, reiterates the importance of ensuring their openness, fairness and inclusiveness in order to complement national efforts to ensure sustainable development, including strong, sustained, balanced, inclusive and equitable economic growth, and that all men and women, in particular the poor and vulnerable, have equal rights to economic resources and appropriate financial services, and the achievement of the internationally agreed development goals, including the 2030 Agenda for Sustainable Development, 12 and encourages the international financial institutions to align their programmes and policies with the 2030 Agenda in accordance with their mandates; 3. Notes that the United Nations, on the basis of its universal membership and legitimacy, provides a unique and key forum for discussing international economic issues and their impact on development, and reaffirms that the United Nations is well positioned to participate in various reform processes aimed at improving and strengthening the effective functioning of the international financial system and architecture, while recognizing that the United Na tions and the international financial institutions have complementary mandates that make the coordination of their actions crucial; 4. Recognizes the important efforts undertaken nationally, regionally and internationally to respond to the challenges posed by the latest global financial and economic crisis, and also recognizes that more needs to be done in order to promote the economic recovery, to manage the consequences of volatility in global financial and commodity markets, to tackle high unemployment and indebtedness in several countries, as well as widespread fiscal strains, to reinforce the banking sector, including by increasing its transparency and accountability, to address systemic fragilities and imbalances, to reform and strengthen the international financial system and to continue and to enhance the coordination of financial and economic policies at the international level; 5. Stresses the critical importance of a stable, inclusive and enabling global economic environment for the advancement of sustainable development, for the reliable and effective financing of development and for the implementation of the 2030 Agenda, mobilizing public and private, as well as domestic and international resources; 6. Reiterates that debtors and creditors must work together in a transparent manner to prevent and resolve unsustainable debt situations and that maintaining sustainable debt levels is the responsibility of the borrowing countries, acknowledging, however, that lenders also have a responsibility to lend in a way that does not undermine a country’s debt sustainability, and in this regard takes note of the United Nations Conference on Trade and Development principles on responsible sovereign lending and borrowing and recognizes the applicable requireme nts of the International Monetary Fund debt limits policy and/or the World Bank non-concessional borrowing policy, as well as the safeguards of the Development Assistance Committee of the Organization for Economic Cooperation and Development in its statist ical system to enhance the debt sustainability of recipient countries, and will work towards a global __________________ 11 12 4/8 A/73/280. Resolution 70/1. 18-22540