Remarks by President Cyril Ramaphosa at the high level virtual meeting of the Forth International Conference on Financing for Development

Secretary-General of the United Nations, Mr Antonio Guterres,
Your Excellencies, Heads of State and Government,
Distinguished participants,
 
The world is in a race against time.
 
In five years from now, we must have achieved the Sustainable Development Goals that are essential for human well-being and progress.
 
We must achieve these goals not merely because we have committed them to paper, but because the health, welfare and happiness of billions of people depends on the progress we make.
 
The Fourth International Conference on Financing for Development is a crucial moment for the global community to accelerate its collective efforts.
 
The United Nations 2024 Report on the SDGs captures the gravity of the crisis.
 
The report makes it clear that we must think and act differently.
 
We must move faster and with far greater ambition.
 
Importantly, we must align our efforts across all available fora and platforms.
 
South Africa has been consistent that the priorities of its G20 Presidency should complement and support the ambitious objectives of the FfD4. 
 
We have placed solidarity, equality and sustainability at the centre of our G20 Presidency, driven by our conviction that global challenges can only be resolved through cooperation, collaboration and partnership. 
 
As one of the overarching priorities of our G20 Presidency, we are advocating for action to ensure debt sustainability for low-income countries.
 
The policy space available to developing countries is significantly constrained by their debt servicing obligations and their climate and development financing needs. 
 
We know, for example, that 23 countries in Africa are paying more for debt costs than critical development enablers like health care and education. 
 
South Africa seeks to advance sustainable solutions to tackle high structural deficits and liquidity challenges and extend debt relief to developing economies.  
 
In support of this effort – and in pursuit of sustainable funding of the SDGs – South Africa will convene a side event at the FfD4 under the theme: “Forging a common agenda to achieve debt sustainability in developing economies”. 
 
This event will bring together leading voices from various debt-related initiatives to identify synergies and areas of convergence. It will seek consensus and highlight solutions that enjoy broad support. 
 
The Fourth International Conference on Financing for Development is a crucial opportunity to reshape the global financial system in support of the Sustainable Development Goals.
 
We must emerge from the conference with bold decisions and an ambitious action plan that leaves no country, no community and no person behind. 
 
I thank you.