South African President Cyril Ramaphosa announced on Monday that Africa’s needs will be prioritized during the upcoming G20 presidency.
In his weekly newsletter, Ramaphosa emphasized the importance of sustainable development driven by the needs of the people.
He referenced the Pact for the Future, which aims to enhance multilateral action toward a new peace agenda.
Reflecting on last week’s UN General Assembly, Ramaphosa stated that sustainable development requires inclusive and responsive multilateral institutions.
He called for significant reforms to organizations like the United Nations and the International Monetary Fund.
The president cited the COVID-19 pandemic as evidence of the shortcomings within the international financial system.
He noted that low-income countries faced challenges in securing financial assistance during their pandemic responses.
Ramaphosa criticized the complicated lending requirements and bureaucratic processes that impede support for poorer nations.
He added that developing countries struggle to obtain funds necessary for combating climate change.