UN General Assembly
2025

As member states of the United Nations, we have all adopted the sustainable development goals. However, many of these goals remain elusive. There are many reasons that hold many countries back from fulfilling and implementing these development goals. Some of these reasons are lack of sufficient financial resources that can finance the advance that these countries need to make to fulfill those goals. Many countries with developing economies, especially in Africa and the Global South, do not have adequate capital to finance their development goals. They are indebted and are paying much more on debt servicing than they do on health and education. In fact, these countries pay much more than countries in the North for their debt. Yet through global solidarity, by having fairer lending rules, especially for several of the Global South countries, we can achieve our shared commitment. Through the G20 process, we are working towards building consensus on how this problem can be tackled, including the reform of international financial institutions, particularly multilateral development banks, to better tackle global challenges that many countries face.