Johannesburg, South Africa – President Abdelmadjid Tebboune addressed the G20 summit in Johannesburg, advocating for a comprehensive reform of the international financial system and a global mobilization to reconstruct Gaza. Speaking at the session themed ‘Strengthening Solidarity, Equality, and Sustainable Development,’ President Tebboune emphasized the urgency of confronting global challenges with a unified vision and innovative solutions.
President Tebboune expressed his gratitude to South Africa for inviting Algeria to participate in the crucial international event. He highlighted the complex political, economic, and developmental crises facing the world, stressing the need for enhanced international solidarity and practical initiatives to address the challenges confronting developing nations, particularly in Africa.
President Tebboune warned that poverty, unemployment, rising debt levels, and food and energy insecurity pose significant threats to the stability of vulnerable nations. He called for the launch of initiatives that respond to the aspirations of affected populations. He also stated that Algeria has made significant strides in achieving its sustainable development goals and continues to support Sahel countries through development projects financed by the Algerian Agency for International Cooperation.
Addressing the issue of debt, President Tebboune urged the G20 to expedite the implementation of radical solutions to alleviate the burden on impoverished nations. He noted that Algeria had previously cancelled the debts of 18 African countries as part of its efforts to promote continental solidarity. He further emphasized the need to reform risk assessment policies adopted by international financial institutions, which increase the cost of debt servicing for these countries.
President Tebboune also called for a comprehensive overhaul of governance within global financial institutions to ensure fair and equitable representation for developing countries. He argued that their increasing demographic and economic weight warrants an active role in international decision-making. Finally, President Tebboune reiterated Algeria’s commitment to a global energy transition.
