Kathmandu, Nov. 17
Prime Minister Pushpa Kamal Dahal Prachanda said that many
countries of the Global South are under unsustainable debt burden which is
straining investments in health, education, social justice, and other pressing
national priorities.
"The developing countries especially the LDCs (Least
Developed Countries) are the most affected ones by these crises. Rising food
and energy prices, tightening financial conditions, and persistent cycles of
vulnerabilities continue to add to their worries," he said while
addressing the 2nd Voice of Global South Summit through virtual
means on Friday.
The summit with the theme 'Global South: Together for one
future' was organised by India.
PM Prachanda said that the theme of this Leaders’ Session of
the Summit is timely and relevant in the present context especially as the
nations grapple with a multitude of challenges in a world beset with
turbulence.
"We are facing unprecedented crises generated by the
COVID-19 pandemic, climate change, and deepening geo-political complexities.
They have impacts on food and nutrition, health and education, economy and
environment, and peace and security," said PM Prachanda.
"We believe that in order to address the challenges
facing the world, the international community must focus on common goals of
peace, progress and prosperity. For this, building of trust, promoting
partnership and collaboration and working in solidarity remain crucial,"
he added.
According to him, the countries of the Global South need to
champion inclusive and sustainable global growth, in which this part of the
world receives a fair share to eradicate poverty and give their people a decent
life.
The Prime Minister of Nepal reiterated the country's
commitment to multilateralism, with the United Nations at the centre while also
pointing to the need to of timely reforms in the existing global governance
architecture for making it relevant and reflective of current realities.
At the same time, reform of the international financial
architecture should be a top priority with full consideration to the voice of
the countries in special situation, including LDCs, LLDCs and SIDS, he said.
According to PM Prachanda, climate change remains a grave
threat to humanity as climate vulnerable countries like Nepal have been bearing
the burden of it.
Stating that the effect of climate change on the Himalayas
has posed severe threat to the lives and livelihoods of millions of people
living in our region, he urged for the commitment of all to achieving the set
ambitions in a time-bound manner.
He also said that Nepal believes that easy access to climate
finance is prerequisite to a low-carbon and climate resilient development.
"Hence, we have been calling for an enhanced level of
international support from our partners such as development assistance, FDI,
trade facilitation, technology transfer and technical assistance," said PM
Prachanda.
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