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HomeAfricaEgypt wants developing nations in int'l economic decision-making

Egypt wants developing nations in int’l economic decision-making

 Egypt on Tuesday called for a reform of the international economic and financial system to give a greater voice to developing countries.

Egypt’s Ambassador and Deputy Foreign Minister Mohamed El Oraby made the appeal at a UN General Assembly plenary session on financing for development.

Oraby also stressed the need for “close relationship” between achieving developm ent goals and the establishment of a sound international economic and financial a rchitecture.

“The two goals complement and mutually reinforce each other and form an integral part of the financing for development agenda,” he said.

“Here comes to light our urgent and legitimate calls for reforming the internati onal economic and financial system whose imbalances have been revealed by the fi n ancial crisis,” the Egyptian official said.

He also said: “There should be a reform that strengthens the voice and particip ation of developing countries in international economic decision-making and norm

setting.

“It is no longer acceptable that the financial crisis be used as a pretext to in crease the marginalization of developing countries in the international financia l and economic system, especially the African continent,” he said.

Oraby further emphasised the necessity of expanding the membership of the G-20, to make it more representative of the African continent.

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