Davos: President Cyril Ramaphosa has urged nations to work together to tackle a multitude of challenges facing the global economy, highlighting rising debt and climate change impacts, as burning issues. He was giving a special address to the 55th World Economic Forum in Davos on Tuesday as Head of State and in his capacity as the President of the G20. He called for collective efforts to rid the world of current conflicts causing untold pain and suffering to those affected.

According to South African Government News Agency, President Ramaphosa emphasized that without cooperation and collaboration between individuals, groups, peoples, and nations, humanity cannot progress. He highlighted that the challenges of the 21st century, such as climate change, pandemics, poverty, terrorism, migration, and artificial intelligence, require mutually beneficial cooperation and collaboration. The President noted the current global climate of rising geopolitical tensions, unilateralism, nationalism, protectionism, isolationism, and rising debt levels affecting poor countries, which leads to a declining sense of common purpose.

The President further stated that this is a moment when the global community should unite to resolve issues, emphasizing the need to end wars and conflicts causing hardship and misery worldwide. He stressed the urgency of acting together to halt the destruction of the planet, as well as the necessity of utilizing abundant resources and remarkable technologies to overcome poverty, inequality, unemployment, especially youth unemployment, and the abuse of women.

He highlighted the importance of meeting the needs of the present without compromising the ability of future generations to meet their own needs. The President called for greater urgency in reducing global emissions and urged industrialized countries to support climate actions that poorer countries must undertake in line with UN climate change summit decisions.

Additionally, President Ramaphosa pointed out the significant gaps in economic capabilities and levels of human development faced by countries in the Global South, including a lack of predictable financing for development and climate change, high levels of debt, and vulnerability to pandemics. He noted that debt sustainability for low-income countries is one of the four priorities of South Africa’s G20 Presidency, emphasizing that the pursuit of equality and the practice of solidarity are inseparable from sustainable development.