United Nations (TDI): Pakistan called for debt relief and restructuring as part of a broader effort to address climate change and economic distress at a solemn ceremony marking the handover by Uganda of the Chairmanship of Group of 77 and China to Iraq on Monday.
“We are witnessing a time of growing inequality among and within nations, with over 800 million people enduring extreme poverty,” stated Ambassador Munir Akram, who has twice led the G-77, an alliance of developing nations established on 15 June 15 1964.
The group, originally named after its 77 original signatories, has expanded to include 134 members.
G-77 is the largest intergovernmental coalition of developing nations at the United Nations (UN), which provides the means for countries of the South to articulate and promote their collective economic interests and enhance their joint negotiating capacity on all major global economic issues within the UN system, as well as promote South-South collaboration for development.
Ambassador Akram served as the group chairman in 2007 and 2021 during his distinguished service at the UN.
Speaking at the ceremony, Akram said, “We are living in a time when the climate catastrophe hits the developing as well as the developed nations. And perhaps, this is awakening, finally, the realization that climate change is an existential threat to the entire planet.”
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In his remarks, Ambassador Akram extended Pakistan’s congratulations to Iraq, expressing full support for its leadership of G-77.
He emphasized that providing development finance, revitalizing trade as a driver of growth, and aligning technology frameworks with Sustainable Development Goals (SDGs) and climate targets are critical priorities for developing nations.
There was a major gap of $4.3 trillion and $1.5 trillion in financing SDGs and climate change action, respectively, he added.
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The countries of Global South, he said, needed financial help and scaling up of grant and concessional financing to implement commitments on ODA (Official Development Assistance), urgent action on debt relief and restructuring, and re-channelling of 50 percent of the 2021 allocation of SDRs (Special Drawing rights), he added.
Trade: A Game Changer
Identifying trade as a game-changer for nations to join the developed world, Pakistani envoy called for opening ‘new doors of access for export of developing countries’ while preparing for ‘trade protectionism’ at the same time.
Accepting G-77’s presidency on behalf of Iraq from Uganda, Iraqi Foreign Minister Fuad Hussein underlined his priorities for the challenging year.
“We will work on enhancing collective efforts to tackle the effects of climate change on developing nations, to ensure global support to implement climate adaptation policies, and to support climate financing for developing nations,” he said.
At the outset, UN Secretary-General Antonio Guterres highlighted the significance of G-77 and said, “2025 must be the year of keeping promises to developing nations.”
