Ranil addresses UNGA, urges big powers not to escalate tensions
COLOMBO – Sri Lanka’s president told a UN General Assembly in New York (UNGA) that conflicts and tension created by big powers are causing problems for the rest of the world.
“Conflicts and tensions among big powers are complicating the policy environment for the rest by adding uncertainty to economic and macro-financial stability, disrupting supply chains and causing inflation as well as food and energy insecurity,” President Ranil Wickremesinghe said in his address at UNGA on Thursday (21).
“Cross-border financial impacts of crises such as climate change and the pandemic are impeding the ability of smaller indebted countries such as mine, to make progress on SDGs and climate adaptation and mitigation.”
Long before the SDGs, Sri Lanka had achieved high human and social development indicators which ranked the country in a category well above other middle-income countries, Wickremesinghe said.
“National efforts alone will not suffice to ensure the success of the SDGs and reverse climate change. The need for global solidarity to restructure the international financial architecture is paramount,” he said, noting that the Summit of the Future should be re-structuring the present financial architecture to suit the needs of climate change and sustainable development.
“This must be the priority of this General Assembly; we cannot afford to allow divisions to drive focus away from this crisis.
“While we seek solidarity and financing to alleviate poverty and climate challenges, global military expenditures have risen today to record levels reaching $2.24 trillion.
“This reflects the strategic trust deficit among the powerful, key arms control frameworks which were instrumental in maintaining system stability in the past have collapsed and nuclear conflict is once again under open discussion, potentially and apocalyptically triggered by autonomous control.
“We urge restraint in the increase of military expenditure which leads to escalation of conflict,” he said.
-economynext.com
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