A postscript to the Caram-Tiongco wedding

A new era of wedding celebrations captivated the social media world recently as Filipino couple Abbie Caram and JM Tiongco embraced the enchanting charm of the Crazy Rich Asians wedding theme at the fabled Gardens by the Bay in Singapore last 18 June.

Inspired by the lavishness depicted in the hit novel and film Crazy Rich Asians of Kevin Kwan, this extraordinary concept encapsulates opulence and glamor creating an unforgettable wedding experience like no other.

Abbie and JM's wedding theme transported guests into a realm of grandeur and magnificence, immersing everyone present into a world wherein luxury and sophistication reigns supreme. Every element — from the

Asian-inspired décor and exotic flowers to the fashionable guests, the fabulous entertainment and cuisine — was meticulously curated to an awe-inspiring celebration that left an indelible mark to the memory of all attendees.

Abbie Caram is the son of Juan Fermin Tan Caram and Cora Belita-Buffa while Judith Marie Tiongco (JM) is the daughter of Dr. Napoleon Tiongco Jr. and Sheilla Marie Golez-Tiongco. Both families came from illustrious families of Iloilo.

My congratulations and best wishes to the newlywed couple Abbie and JM.

Time for a new Bretton Woods

I have called for a new Bretton Woods moment — a moment for governments to come together, re-examine and reconfigure the global financial architecture for the 21st century.

And earlier this month, as part of our preparations for the Summit of the Future, I put forward a Policy Brief — a detailed blueprint for a redesigned global financial architecture capable of serving as a safety net for all countries.

I have no illusions.  This is a question of power and political will, and change will not happen overnight.

But as we work for the deep reforms that are needed, we can take urgent action today to meet the urgent needs of developing and emerging economies.

That is why I have proposed an SDG Stimulus of $500 billion per year for investments in sustainable development and climate action.

It includes concrete steps global leaders can take right now.

They can establish a really effective and time effective debt relief mechanism that supports payment suspensions, longer lending terms and lower rates, including for middle income countries with particular vulnerabilities, namely in relation to climate.

They can scale up development and climate finance by increasing the capital base, changing the business model of multilateral development banks and allowing in a much stronger coordination to transform their approach to risk.

World leaders can expand contingency financing to countries in need by rechanneling, in broader scale, unused Special Drawing Rights and by using other innovative mechanisms to increase global liquidity.

Global leaders can put in place a mechanism to issue SDRs automatically in times of crisis and distribute them according to need.

They can put a price on carbon and end fossil fuel subsidies and repurpose them toward more sustainable and productive uses.

And the list of things we can do now goes on and on.

Taken together, these steps would help to beat poverty and hunger, uplift developing and emerging economies and support investments in health, education and climate action.

We don't have to wait for root and branch reform of the international financial architecture.

We can take steps right now — and take a giant leap toward global justice.

I am fully aware of the challenges and headwinds we face. Power dynamics and constraints on global cooperation in today's world make problems more difficult to solve.

But solutions are not impossible.  And we can start now.

We are at a moment of truth and reckoning. Together, we can make it a moment of hope.