Ethiopia has issued a powerful call for immediate and comprehensive reforms to global economic governance, advocating for a more equitable and inclusive financial system. The plea came during a high-level special event at the Fourth International Conference on Financing for Development (FfD4) in Sevilla, Spain.
Ambassador Samuel Isa, Ethiopia’s Deputy Permanent Representative to the UN, emphasized that the "Sevilla Commitment" must serve as a critical turning point in tackling pressing global issues such as debt distress, escalating inequality, and climate vulnerability.
Ambassador Samuel highlighted a significant and rare alignment of political will among diverse blocs, including the G77, the African Group, Least Developed Countries (LDCs), and several reform-minded Northern partners. He urged that this newfound unity be swiftly converted into tangible actions.
He pinpointed three crucial opportunities for advancing reform: cultivating a unified narrative around the need for change, fostering stronger leadership from the Global South, and building momentum behind existing reform coalitions.
Furthermore, Ambassador Samuel stressed the necessity of establishing clear timelines, ensuring accountability, and implementing a permanent, UN-led process to steer these reforms. He warned of dire global consequences should the international community fail to act decisively.
Ethiopia's firm stance resonates with a burgeoning demand from developing nations worldwide for a financial system that is not only fair but also inclusive, ultimately aimed at accelerating progress towards the 2030 Sustainable Development Goals.