President Ramaphosa Calls for Urgent Action to Address Global Crises and Close the Finance Divide

September 20, 2023

New York, USA

In a speech at the High-Level Dialogue on Financing for Development Summit, South African President Cyril Ramaphosa called for urgent action to address the global crises of climate change, recession, conflict, environmental degradation, food insecurity, poverty, and hunger.

Ramaphosa warned that the failure to act on commitments to support development is deepening the divide between the global north and south. He called for reforms to the international financial architecture, including greater participation of developing countries in decision-making, reframed mandates for multilateral development banks, and a new approach to blended finance.

Ramaphosa also called for developed countries to fulfil their commitments to Official Development Assistance and climate finance. He welcomed the recommended actions contained in the Secretary-General’s Report on ‘Our Common Agenda’ and urged world leaders, global institutions, and the private sector to work together to address the current crises, close the finance divide, reduce inequality, eradicate poverty, and make sure that no-one is left behind.

Ramaphosa’s speech comes at a time when the world is facing a number of interconnected challenges, including the ongoing COVID-19 pandemic, the war in Ukraine, and the climate crisis. These challenges have had a disproportionate impact on developing countries, which are already struggling with poverty and inequality.

The High-Level Dialogue on Financing for Development Summit is an opportunity for world leaders to discuss ways to mobilize the resources needed to achieve the Sustainable Development Goals (SDGs) by 2030. The SDGs are a set of 17 goals that aim to create a more just and sustainable world for all.

Ramaphosa’s call for urgent action to address the global crises and close the finance divide is timely and important. The world must come together to mobilize the resources needed to achieve the SDGs and build a better future for all.