By By: Alphanso G. Kalama
New York – At the United Nations Global Compact: Summit of the Future, Liberia’s President Joseph Nyuma Boakai, Sr., delivered his first address emphasizing the urgent need for global cooperation and reform in financial systems to combat growing inequalities and support sustainable development.
President Boakai, addressing a diverse audience of world leaders and representatives, expressed the optimism of the Liberian people following the recent peaceful transfer of power. He outlined Liberia’s ambitious agenda, known as A.R.R.E.S.T. (Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism), aimed at achieving the Sustainable Development Goals (SDGs).
Highlighting the grim findings of the latest Human Development Report, Boakai noted that the world’s poorest countries are falling further behind, exacerbating social and economic divides. He pointed out that Least Developed Countries (LDCs) are now spending a staggering 12% of their revenues on interest payments—an alarming increase from just a decade ago. This, he argued, underscores the urgent need for reform in the global financial system.
“The current situation requires decisive action,” he stated, calling for a collective approach to overcoming shared challenges. Boakai urged the international community to alleviate the economic pressures on vulnerable nations, stressing that a reformed financial system could pave the way for equitable development.
The Liberian president reaffirmed his country’s commitment to good governance and effective resource utilization in alignment with the 2030 Agenda. However, he insisted that without a transformation in global governance structures, progress would remain stifled.
“As UN Secretary-General António Guterres has emphasized, we must view these reports as a call to action,” he said. “Together, we can dismantle the barriers that hinder our potential and advance a shared vision for sustainable development.”
In concluding his remarks, President Boakai extended gratitude to the international community and the United Nations for their ongoing support, urging all nations to work collaboratively towards socio-economic development.
His address resonated with the summit’s overarching theme of cooperation, setting a tone for meaningful discussions aimed at fostering a more equitable global landscape. As the world grapples with unprecedented challenges, Boakai’s call for unity and reform offers a path forward toward a more sustainable future for all.
