Xi Jinping urges IMF: “SDR process for low-income countries should be accelerated” – WORLD
“We all live in the same world, so we must help each other in crisis situations, holding hands. The ideological grouping will have no consequences other than blocking, global development and inhibition of human development.
Making his assessment, Xi said: “Prosperity and stability in the world cannot be achieved on the basis of a further widening of the gap between rich and poor. Every country wants a better life.” Requiring upgrades is not the exclusive right of any country. Countries that go further should provide more global public goods by genuinely helping other countries develop. Great nations must assume the necessary commitments and participate more effectively in world affairs,” he said.
“The global call for development I have launched is aimed at finding international understanding on this issue, giving new impetus and accelerating common development, taking into account the long-term goal of joint development of the whole world and real conditions,” Xi Jinping said. said.
“There are problems in the globalization of the economy and the risk of a recession in the global economy is increasing. We are all going through difficult times.
This issue is particularly difficult for developing countries. We must give development more importance than ever before in history. The central theme of the Bali summit is “Rebuilding together – a stronger recovery”. This signals that the G20 wants to support the development of developing countries and save the world economy from imbalance, it is necessary to establish partnerships aimed at restoring the world economy. People should always be given priority and helped to solve the problems of developing countries. China also supports the participation of the African Union in the G20 in this regard.
“The G20 must support global food security”
Declaring that global inflation must be prevented and systemic financial risks must be eliminated, Xi said: “Especially developed countries should reduce the spread of the effects of monetary policy adjustments abroad.
The International Monetary Fund needs to speed up the process of allocating special drawing rights (SDRs) to low-income countries. China, in fulfilling the G20’s call to extend the debt repayment period of poor countries, has become the country with the most debt suspension of sister countries. Global trade, the digital economy, green transformation and the fight against corruption are important factors in promoting global development. World Trade Organization (WTO) at its center “We will continue to support the existing multilateral trading system, vigorously promote WTO reform, and accelerate the construction of an open world economy by promoting liberalization and facilitating trade and investment.”
Declaring that the G20 should provide the necessary support to the United Nations’ Global Food, Energy and Financial Crisis Response Team, Xi said, “China has long been a significant contributor to world food and energy security.
This year, China, along with six partner countries including Indonesia and Serbia, launched the “International Cooperation Initiative to Build a Stable and Reliable Production and Supply Chain.” In addition, the Global Food Security Cooperation Initiative was introduced within the G20. We look forward to deepening cooperation with all parties in these areas.”
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