ADDIS ABABA— United Nations Secretary-General Antonio Guterres on Saturday said multiple inter-linked challenges are confronting the world with Africa facing major challenges.

“I recently addressed the UN General Assembly on the multiple, inter-linked challenges confronting our world – greater than any in our lifetimes,” Guterres said while addressing the 36th Ordinary Session of the African Union (AU) Summit on Saturday in Addis Ababa, the Ethiopian capital.

Guterres said the dysfunctional and unfair global financial system that is failing developing countries and the deep inequalities as well as the less availability of resources to recover from the COVID-19 pandemic were among the major challenges to Africa.

He said a cost-of-living crisis – exacerbated by the consequences of the Ukraine crisis and climate chaos, is putting communities and lives at risk and displacing millions.

Guterres stressed the need for developing nations to have a far greater voice in global institutions including the UN Security Council. “They (developing nations) should have a far greater voice in global institutions – including financial institutions. The Security Council, the Bretton Woods system are typical examples where Africa is dramatically under-represented.”

According to Guterres, multilateral development banks should transform their business model and accept a new approach to attract greater flows of private capital into the African continent.

Guterres said even though African countries are least responsible for ongoing climate crises, the people on the continent are feeling the most devastating impacts of climate change. “The brutal injustice of climate change is on full display with every flood, drought, famine and heat wave endured on this continent,” he said.

Source: Nam News Network