Lerato Mbhiza
International Relations and Cooperation Minister, Dr Naledi Pandor, has challenged G20 nations to address ongoing global tensions, which have been fueled by a variety of developments in recent years.
Pandor drew attention to a few pressing issues including the increasing debt load faced by poor and middle-income countries, inequality, and neglect in certain parts of the world citing Palestine in the Middle East as an example.
She highlighted the conflict between Russia and Ukraine, the recent Israel-Gaza war, and related violations of international law and United Nations (UN) guidelines.
The Minister also mentioned that there are several issues, such as trade tensions between major economies, economic decline due to COVID-19 and continuing terrorism and extremism.
“All these have placed the world in a more precarious context and as G20 we must attempt to craft implementable responses,” she said while speaking at the G20 Foreign Ministers Meeting in Brazil on Wednesday.
Pandor said she believes that the G20 leaders are most suitable to tackle the challenge of providing effective solutions to issues that are leading to conflict, division, insecurity, and growing inequality.
“The world is watching to see whether the most powerful can initiate a reversal of our slide to disaster,” the Minister stressed.
G20, which is also known as the Group of 20, is a forum for international economic cooperation and plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
The G20 was created to draw together governments that would work together in strategic cooperation to create a platform or global practice that would assist developing countries to overcome poverty inequality and insecurity.
“Our governments acknowledged that changing the material conditions of the poorest was and remains fundamental to maintaining the relevance of G20,” she explained, adding that it was encouraging that following the devastating impact of the COVID-19 pandemic, the group renewed its focus on development compared to the past.
According to Pandor, if developing countries were to achieve greater progress with the Sustainable Development Goals (SDGs), funding would be needed from the multilateral development banks (MDB).
“Greater financing and development support could be secured through active support to arrest illicit financial flows from and between African countries given the impact on development illicit finances fuel corruption undermine the rule of law and the stability of markets, yet little has been done to address them,” said the Minister.
The MDBs offer financial and technical assistance to developing countries to improve economic management and reduce poverty.
She told delegates that the multidimensional and transnational nature of illicit financial flows also requires concerted international action.
“G20 could do much to strengthen its important role in acting on this drain of developing countries resources,” she added.
“Greater financing and development support could be secured through active support to arrest illicit financial flows from and between African countries given the impact on development illicit finances fuel corruption undermine the rule of law and the stability of markets, yet little has been done to address them,” said the Minister.
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