by Al-Jerome Anastas. Chede Sr.
Washington DC, September 23,2024:After a making the case for Liberia at the just ended China-Africa Forum in Beijing, China as well as the Liberia Investment Summit in Toronto, Canada, the Liberian Chief executive, President Joseph Nyuma Boaka Sr. on Sunday, September 22, 2024, addressed the 79th session of the UNGA in New York.
President Boakai emphasized that the global financial system is failing the world’s poorest countries. He pointed out: “We are being crushed under the weight of a financial system that benefits the powerful while leaving vulnerable nations to struggle for survival. The economic pressures we face are stifling our development, and without decisive global reforms, many of our nations will remain trapped in this cycle”.
Referencing the “2024 Financing for Sustainable Development Report,” President Boakai pointed out that “Countries like Liberia are being forced to spend up to 12% of their revenues on interest payments-a fourfold increase over the past decade. This is unacceptable. The world cannot expect us to achieve sustainable development while we are drowning in debt.”
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