TIG Post

Tag: 77th UN General Assembly

  • Guinean junta suffers sanctions from West African bloc

    In response to the coup in Conakry last year, the Economic Community of West African States (Ecowas) has decided to impose sanctions on individuals in Guinea’s military government.

    The leaders from the bloc met in New York where they were attending the UN General Assembly.

    They agreed on “gradual sanctions” on a list of people linked to the Guinean junta who will be identified “very soon”, the AFP news agency reports.

    Guinean leaders say they need three years to return the country to democracy and they are unhappy with Ecowas’ demands for a faster transition.

    In a statement, the Guinean interim prime minister, Bernard Gomou, had earlier described the Ecowas chief and president of neighbouring Guinea-Bissau, Umaro Sissoco Embaló, as a “puppet” and an “overexcited” man who had “forced his way in” to lead the regional organisation.

    Guinea was suspended from Ecowas following the coup in September last year.

  • UN Security meeting: Sergei Lavrov walks out after speech

    After giving his speech, Sergei Lavrov, the foreign minister of Russia, left the UN Security Council meeting.

    He began by saying: “There is an attempt today to impose on us a completely different narrative, about Russian aggression as the origin of all the tragedy”.

    He continued by talking about the historical relationship between Ukraine and Russia and described Ukraine as “totalitarian”.

    He added that he is “concerned about the fate of Russian soldiers taken prisoners by Ukraine”.

    Mr Lavrov said he has “no confidence” in the work of the International Criminal Court.

  • We do not have the luxury of choosing which issues to address – Akufo-Addo

    President Akufo-Addo has urged international leaders to work together to address the many issues the world is facing.

    We don’t have the luxury of choosing which problems to solve, the President stated on Wednesday during his address to the 77th UN General Assembly.

    Since “none of them can wait,” according to the President, it will be wise to treat each issue with equal priority.

    President Akufo-Addo emphasized issues including insecurity, climate change, economic and energy difficulties, among others, and emphasized that each one needs urgent response.

    “History will judge us harshly if we do not seize the opportunity to make the changes that will enable us to deal with the many problems that we face,” he stated on Wednesday.

    The President also used the platform to bemoan the unfair treatment of African countries on the international financial market.

    According to him, avenues that are available to powerful nations are not the same for developing countries,consequently, impeding growth in these countries.

    “The tag of Africa as investment risk is a self-fulfilling prophecy created by the prejudice of the international money markets which denies us access to cheaper borrowing, pushing us deeper into debts.

    “The financial market has been set up and operates on rules designed for the benefit of rich and powerful nations and during times of crisis, the façade of international cooperation under which they purport to operate disappears,” he opined.

     

  • Reforms needed because the International Financial system is tilted towards emerging nations – Akufo-Addo to world leaders

    President Akufo-Addo, has demanded that the global banking system be immediately reformated.

    He contends that while emerging nations suffer under the current system, an equitable alternative that would benefit all nations should be taken into consideration.

    During his Wednesday speech to the 77th UN General Assembly, the President issued this urgent demand.

    “The labeling of Africa as an investment risk is minimal in fact.

    It is a self-fulfilling prophecy made possible by the bias of the global financial markets, which prevents us from accessing more affordable financing, increasing our debt.

    He pointed out that “the financial market has been set up and functions under rules created for the benefit of rich and powerful nations.”

    Recalling incidents during the Covid-19 crisis, President Akufo-Addo said many powerful countries “disappeared” despite the partnerships the said countries had established in Africa.

    “These are the savage lessons that we’ve had to take in as the world emerged from the grip of the coronavirus, to energy and food price hikes and a world rise in a cost of living.

    “The necessity for reform of the system is compelling,” he stressed.

    Ghana’s creditworthiness has recently suffered a downgrade by top ratings agencies including S&P and Fitch. This has affected investor confidence amid an ailing economy currently at the International Monetary Fund’s doors for a bailout.

    Addressing the Assembly, the President said the downgrade of economies by rating agencies is further aggravating the hardships of African countries because of difficulties in servicing debts.