Egyptian Prime Minister Mostafa Madbouly called for the capabilities of the international financial system to be redirected in a way that achieves greater fairness and better reflects the interests and needs of the Global South. He made the remarks while attending the 81st session of the United Nations General Assembly in New York, where he headed Egypt’s delegation at the direction of the president.
Poverty and underdevelopment among the roots of conflicts
Speaking at a leaders’ meeting on “Partnership for Multilateral Action, Security and Peace,” Madbouly said poverty, inequality and the challenges hindering the achievement of the Sustainable Development Goals pose serious obstacles to international prosperity and stability.
He said the root causes of conflicts had yet to be addressed, explaining that they often include poverty, inequality and underdevelopment. He called for priority to be given to conflict prevention and resolution, and for diplomacy to be relied upon instead of unilateral measures.
Call for resources to support the multilateral system
The prime minister stressed that the international multilateral system must remain at the heart of efforts to achieve peace and development. He said the United Nations was capable of providing the assistance needed to achieve shared goals if it were given sufficient resources to carry out its mandate.
He called for opportunities to be seized to give fresh momentum to the multilateral system by providing the necessary resources, demonstrating political will and uniting behind shared goals, amid growing conflicts and the difficulty of making progress on the Sustainable Development Goals.
Egypt renews commitment to international cooperation
Madbouly renewed Egypt’s commitment to multilateralism and stronger international cooperation, affirming its readiness to work with all partners to turn multilateral action into an effective tool for achieving peace, prosperity and dignity for all.
The meeting was also attended by Kenyan President William Ruto, Canadian Prime Minister Mark Carney and European Council President Antonio Costa, along with a number of heads of state and government and other officials.
