Johannesburg, South Africa – Algerian President Abdelmadjid Tebboune has renewed his call for urgent action to address the heavy debt burden faced by developing and impoverished nations. He proposed a strategy that involves either writing off a portion of their debt or converting it into direct and beneficial investments.
President Tebboune’s message was delivered by Prime Minister Sifi Grib during the G20 Summit held in Johannesburg, South Africa. The President expressed his gratitude to South African President Cyril Ramaphosa for inviting Algeria as a guest country to the G20 gathering.
In his address, President Tebboune commended South Africa’s efforts in preparing for the summit, highlighting the numerous ministerial meetings and expert discussions that addressed critical issues related to the G20’s priorities. He emphasized that the meeting occurs at a time when the world faces complex political and economic challenges. Failure to address these challenges could impact global harmony, affecting all nations regardless of their development level. Therefore, he urged for unified efforts to confront these challenges with innovative ideas and comprehensive initiatives.
President Tebboune stressed the significance of poverty, unemployment, inequality, and disparities in development and wealth, particularly in Africa. He also highlighted the crises stemming from climate change, energy scarcity, food security concerns, and unprecedented levels of debt in low-income countries. These issues pose significant threats to the international community and necessitate continued consideration of international solidarity-based plans and initiatives. The aim is to achieve tangible results that meet the aspirations of the people, especially those in the poorest nations who are awaiting assistance.
“It is clear that despite the efforts made and the results achieved through the diligent work of the United Nations, the path to achieving the development goals that our peoples aspire to is still long,” President Tebboune stated.
