President Ramaphosa does not want SA 'to be treated like beggers'🚯 and calls for an overhaul of the international financial institutions 💰 while the country grapples with high levels of poverty. cyrilramaphosa Agoa TheCitizen Read more⬇️
Ramaphosa stressed that during the summit, South Africa argued for a fundamental overhaul of the international financial institutions that are responsible for supporting development across the world.
“As we said at the summit, we do not want to be treated like beggars, as if we are asking for charity. The industrialisation and economic development of the Global North was achieved at the expense of the Global South. Wealthier countries therefore have both an obligation and an interest in supporting development and climate action in poorer countries.”
Ramaphosa said with improved funding for South Africa’s just energy transition, the country will be able to invest substantially in strengthening the electricity grid and new renewable energy generation. “This will make a significant contribution to ending load shedding and securing a reliable and affordable supply of electricity. This will, in turn, promote economic growth, make our exports more competitive and create employment.”Ramaphosa said South Africa will continue to work with other countries on its development goals.said: “More than ever, international solidarity and transfers from the richest countries to the most vulnerable ones are essential to shape a fairer world.
“This is a view that we share. We will continue to work with other countries across the world to ensure that it becomes a reality,” saidRamaphosa.
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