Egypt urges ceasefire in Gaza: PM Madbouly to Voice of Global South Summit

Ahram Online , Friday 17 Nov 2023

Egypt’s Prime Minister Mostafa Madbouly reiterated Egypt’s call for an immediate ceasefire and an end to all forms of fighting in Gaza to solve the humanitarian crisis in the strip and pave the way for political efforts aimed at achieving just, comprehensive, and lasting peace.

main
The second Voice of the Global South Summit kicked off virtually in India on Friday, bringing together several nations from the global south (photo: The Egyptian Cabinet)

 

The two-state solution is the only way to achieve comprehensive peace in the Middle East, Madbouly told the two-day second Voice of the Global South Summit (VOGSS), which kicked off virtually in India on Friday.

He said Israel’s unprecedented bombing and operations in Gaza are evidence of the bias of the international system and its failure to address violations of international law, especially the implementation of UN resolutions to establish an independent Palestinian state.

The Egyptian PM also stressed that there are clear double standards when dealing with some international issues that have not been resolved for decades.

Challenges of developing nations
 

Madbouly said developing countries have been suffering structural imbalances at various levels, along with an escalation of geopolitical and economic tensions, affirming that only a serious political will can address these imbalances.

Furthermore, he accentuated the importance of reforming the global economic structure, which, he said, suffers inequality and lack of balance and hinders ensuring justice for all countries.

The Egyptian PM also highlighted the urgent need to strengthen the role of international financial institutions and prevent developing countries from being deprived of reaping the hard-won gains of sustainable development.

Moreover, Madbouly called for enhancing climate efforts to overcome the challenges of climate change, noting that such enhancement requires expanding the financing base of the multilateral development banks.

He also stressed that climate financing must go hand in hand with development aid.

Debt crisis
 

Madbouly also noted that the debt incurred by developing countries has risen to $11.4 trillion in 2022, which is twice as high as the one recorded during the past decade, and emphasized that the current paths of debt constitute a significant threat to macroeconomic stability.

Furthermore, the Egyptian PM advocated for launching comprehensive, effective, and sustainable mechanisms to deal with debt-related problems in low- and middle-income countries.

“We count on the important role that can be played by the G20 as a major player in strengthening global economic governance, enabling the bloc to make implementable decisions,” Madbouly added.

Consisting of 10 sessions, the VOGSS brings several nations from the global south to share their perspectives and priorities.

The first edition of VOGSS was held on 12-13 January, also in India.

Short link: