Cuban Foreign Minister addresses G20 Ministerial Meeting

 HAVANA, Cuba, Sep 25 (ACN) Cuba’s Political Bureau member Bruno Rodríguez Parrilla, Minister of Foreign Affairs, spoke to the G20 Ministerial Meeting held in the context of the 79th Session of the United Nations General Assembly in New York, United States.

Below is the full text of his speech.
“Dear Mr. Mauro Viera, Minister of Foreign Affairs of Brazil:

Excellencies, distinguished guests:

I thank Brazil for the initiative to convene, for the first time, a ministerial meeting of the Group of 20 (G20) open to the participation of all member and observer states of the United Nations.

For more than seven decades, the international financial architecture has been ineffective and obsolete, proving incapable of supporting developing countries when they need it most. It has been efficient only in reproducing a scheme of modern colonialism at the expense of the reserves of the South. Its urgent, profound and comprehensive reform is therefore required. Discussions on this issue should not take place in elitist forums behind closed doors, but within the framework of the United Nations.

The current international economic order is hostage to unilateral policies and listings, such as the illegal and criminal blockade of the United States against Cuba and the fraudulent inclusion of our country in the list of alleged State sponsors of terrorism, prepared unilaterally by Washington.

The reform of the international financial institutions must address issues of governance and representation, as well as access to financing, and take due account of the legitimate interests of developing countries and International Monetary Fund country programs should be designed to be counter-cyclical and aligned with climate and sustainable development objectives.

The voting system in these institutions cannot continue to be based on economic power, which is deeply discriminatory and undemocratic.

There is an urgent need to increase the real capital base of multilateral development banks, and to focus on providing concessional financing, whereas the role of credit rating agencies, which today act as judge and jury in the very market they regulate, must be rationalized.

The internationally agreed climate agenda must respect the principle of equity and common but differentiated responsibilities and respective capacities.

Consubstantial to all of the above, the long-standing commitment of developed countries to Official Development Assistance must be fulfilled once and for all.

A Common Framework for Debt Treatment beyond the G20 Debt Service Suspension Initiative must be redesigned and implemented, including relief and cancellation with reliable deadlines, as well as clauses to provide relief and restructuring in the event of natural disasters or macroeconomic shocks.

These facilities should be extended to middle-income countries, which include those most vulnerable to climate change.

The IV Conference on Financing for Development, to be held in 2025, is an opportunity to make progress in this regard, if we have the real support of the G20 member countries, and the political will required by the urgent transformations of the current international financial system.
Thank you very much”.