“Group of 77 and China” Summit Concludes in Havana, Calls for International Financial Reform
The two-day “Group of 77 and China” summit ended on the 16th in Havana, with participants adopting the Havana Declaration. The declaration focuses on the urgent need for a comprehensive reform of the international financial structure and the establishment of a more inclusive and coordinated global economic governance pattern.
According to the declaration, developing countries have been severely impacted by the challenges posed by the current unfair international economic order. It emphasizes the need for reform in the international financial structure and calls for developing countries to strengthen solidarity, cooperation, and enhance their representation in global decision-making bodies.
The summit also highlights the importance of achieving global development and win-win cooperation through consultation, construction, and sharing. It advocates for the construction of a community with a shared future for mankind. The declaration explicitly opposes the imposition of unilateral sanctions on developing countries.
During the general debate of the summit, participants from many countries urged the United States to end its illegal sanctions on Cuba, Venezuela, and other countries. They also called on developing nations to unite and fight for their development rights.
In addition to the declaration, the summit adopted a separate statement indicating that Mexico would rejoin the “G77 and China” mechanism. This announcement is seen as a significant step in strengthening the group’s efforts towards achieving its objectives.
The importance of this summit and its outcomes cannot be underestimated. It demonstrates the determination of developing countries to address the current challenges they face within the global economic and financial systems. The Havana Declaration serves as a powerful call for reform and lays the groundwork for future actions aimed at creating a fairer and more inclusive international order.
(Source of article: Financial Associated Press)
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