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 like Palestine.

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.

Pandor was speaking at the G20 Foreign Ministers Meeting in Brazil on Wednesday.

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 conceived 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.

She said it was encouraging that following the devastating impact of the COVID-19 pandemic, the group renewed its focus on developmen
t compared to the past.

Meanwhile, according to Pandor, if developing countries were to achieve greater progress with the Sustainable Developmental Goals (SDGs), funding would be needed from the multilateral development banks (MDB).

According to the United Nations Development Programme, SDGs, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.

‘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 fl
ows 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.

The Minister also called for an urgent need to reform international institutions to make them more able to address development challenges.

She highlighted the Breton Woods Institutions, which she said had been more responsive to development needs.

However, she said much more has to change to enhance and safeguard these changes.

‘The international tension we see today requires balanced and fair approaches to global challenges, respect for diversity of opinion and belief and acceptance that global bodies are most successful when they act in the interests of all equally,’ she added.

Source: South African Government News Agency