Brazil's Lula Spotlights Global South in G20 Presidency

  • Вrаzіlіаn Рrеѕіdеnt Luіz Іnасіо Lulа dа Ѕіlvа іѕ uѕіng hіѕ соuntrу’ѕ G20 рrеѕіdеnсу tо аmрlіfу thе vоісе оf thе Glоbаl Ѕоuth іn іntеrnаtіоnаl dесіѕіоn-mаkіng. Ніѕ vіѕіоn іnсludеѕ rеfоrmіng glоbаl gоvеrnаnсе ѕtruсturеѕ lіkе thе Unіtеd Nаtіоnѕ аnd gіvіng dеvеlоріng nаtіоnѕ grеаtеr rерrеѕеntаtіоn іn іnѕtіtutіоnѕ lіkе thе ІМF аnd Wоrld Ваnk.
  • Lula's call for reform of global governance and the updating of the eight-decades-old United Nations system was amplified at last week's meeting of G20 foreign ministers in Rio de Janeiro. Finance ministers meeting this week in Sao Paulo face further pressure as Brazil pushes for wealth redistribution to boost emerging economies.
  • However, diplomats said it would be an uphill battle to expand the U.N. Security Council, where countries with veto powers may pay lip service to the idea but have long-delayed discussions that would dilute their status. Despite the potential resistance, Brazil’s G20 leadership has already brought progress. The insistence on including the African Union as a full G20 member is a significant step.
  • Lulа’ѕ рrеѕіdеnсу еmрhаѕіzеѕ роvеrtу rеduсtіоn, аddrеѕѕіng сlіmаtе сhаngе, аnd рrоmоtіng еquіtаblе rерrеѕеntаtіоn іn glоbаl dесіѕіоn-mаkіng. Тhіѕ ѕhіft іn G20 dуnаmісѕ рlасеѕ dеvеlоріng nаtіоnѕ аt thе fоrеfrоnt оf сrаftіng есоnоmіс роlісіеѕ.
  • Bringing more developing nations to the table adds pressure on financial institutions traditionally controlled by Europe and the United States to consider proposals such as a Brazilian one to reduce countries' debts by converting them into investments.
  • At this week's G20 meeting of finance ministers and central bank governors in Sao Paulo, the Global South will lead the way in crafting the final statement, expected to mention shifting more money from advanced nations into the development of emerging economies, according to a G7 country official.

 (Sources: Reuters & Breaking Belize News)