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UGANDA ASSUMES GROUP OF 77 AND CHINA CHAIRMANSHIP

Sunday, January 21, 2024


President of Uganda and Chairman of the Group of 77 and China gestures ahead of
the opening session of the 3rd South Summit in Kampala on January 21, 2024.
PHOTO/HANDOUT 

By  Busein Samilu




WHAT YOU NEED TO KNOW:

 * G-77+ China started as a group of 77 developing countries.


THANK YOU FOR READING NATION.AFRICA



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Uganda has assumed chairmanship of the Group of 77 + China from Cuba, which held
the mantle for the past one year.




G-77+ China started as a group of 77 developing countries that came together and
signed a joint declaration of the first session of the United Nations Conference
on Trade and Development (UNCTAD) in Geneva in 1964, with a main aim of
promoting economic cooperation among its member states and to collectively
address issues related to development, trade, and international financial
institutions.

These, who have since grown to 134 members, have from 1994 received both
political and financial support from China- who does not consider herself a
Group member.


RELATED


 * PRIME JAPANESE ARE NOT WISE TRADERS, SAYS MUSEVENI
   
   National Jan 21
   
 * 

During the official start of the 3rd South Summit in Kampala on Sunday, Uganda’s
President Museveni rallied global countries to embrace unity in order to solve
the ongoing global crises.

“We should ensure that we collectively promote and protect human rights and
development and the issues of human rights should be handled objectively and not
politicized,” Museveni told delegates in his inaugural remarks as the Group’s
new leader.




“People are also living under foreign occupation, and we call for the
international community to provide assistance and enable developing countries to
address their challenges politically and financially,” he added.

International financial institutions, he said, should provide financial
assistance to developing countries, without putting stringent conditions, if the
latter are to also develop.

Speaking at the event, the Secretary General of the United Nations António
Guterres advised global south countries to demand their rights and negotiate
their clear position from the rich global north countries.

“Financial institutions and frameworks created after the Second World War still
largely correspond to the power relations and the global economy of that time.
They must be reformed so that they are truly universal; reflect the realities of
today; and are much more responsive to the needs of developing countries,” he
said.

Further, he said: “Multilateral development banks must be adequately
capitalized, and must change their business models to leverage far more private
finance for developing countries at reasonable cost,”




According to the UN chief, many G-77 members are grappling with an economic
hangover from the Covid-19 pandemic, crippling debts, a cost-of-living crisis
and sky-high borrowing costs.

“Climate disasters many of you did little to create are knocking chunks out of
your economies and increasing people’s suffering.”

“Digital technologies have enormous potential for good – but they are also
inflaming inequalities. The International Monetary Fund warns that artificial
intelligence could make things even worse. And peace – the foundation of
sustainable development – is breaking down amidst a climate of global impunity.
Around the world – from Sudan, to Ukraine, the Middle East and beyond – wars are
devastating lives, fuelling mass movements of people, disrupting global supply
chains, and threatening to set entire regions alight,” he added.

‘Irreparable trauma and loss’

In his speech, the president of the 78th session of the United Nations General
Assembly, Mr. Dennis Francis said that escalating geopolitical tensions, wars
and conflicts have risen to the fore, shattering the lives of millions, and
putting the safety and security of the entire planet at risk.




“At the forefront of these, is the harrowing humanitarian catastrophe in the
Gaza Strip. Generations of families suffering irreparable trauma and loss;
children undergoing amputations without anesthesia; entire neighbourhoods
reduced to rubble in one fell swoop.  With half the population facing starvation
and tens of thousands of dead in just over 100 days, the world is looking to the
United Nations for answers,” he said.




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 * PRIME KENYA HOPES BESIGYE INCIDENT DOESN’T SULLY TIES IN UGANDA
   
   Kenya did not want to be involved in the goings-on about accusations Besigye
   was facing
   
   National 10 hours ago


 * PRIME POSTA UGANDA SINKING IN DEBTS AGAIN AS INVESTOR TAKEOVER LOOMS
   
   Legislators reported that Posta Uganda has not cleared Shs1.2 billion in
   rental tax and Shs1.4 billion VAT arrears to the Uganda Revenue Authority
   (URA)
   
   National 20 hours ago


 * PRIME HOW UGANDA’S GOLD REFINERY IS FUELLING CONFLICT IN DRC
   
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   groups
   
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