We also need to look at the distribution of the special drawing rights, I find it a bit difficult to be told that this is set in the rules and it will forever be like that and that it’s either you get zero or you get 34 billion, In our view this is not a zero-sum game, it’s a game where we all need to be dealt with, with equity, in an equitable Manner and there is a need for reform in that regard as well, and the other important thing for this to happen, it will help us not to participate as unequal cousins in these institutions, it will help us to participate fully and so that we don’t have a sense that we are beggars, that we are being dealt with out of generosity, I think it’s important in the new era that the world is in now that there should be a good measure of equality among Sovereign Nations, you know, recently seven African countries decided to go and put a call for peace to Ukraine and to Russia and we raised a number of issues, Zambia was represented, Comoros was represented, Republic of Congo was represented, Senegal was represented, Uganda as well as South Africa, so we were all represented and Egypt as well, so we were all at one that even as we were going to address an issue of the war which has had a negative impact on the African continent, which is the rise in prices for food, rise in prices for fertilizers, we were clear that we are not going there as beggars, we are not going to ask for a favor to both Ukraine and Russia, we were going there to say open up the Black Sea Channel so that the seeds, the grains and the fertilizers should go into the World Market, so we were not on a begging mission, even as we are in great need as a continent and all that, that we should go to demonstrate that Africa is, should never be seen as a continent that needs generosity, we want to be treated as equals, even in the multilateral institutions, we want to be treated as equals and if our Equity is at a low air but there must be ways in which that can be addressed, to us this is very important, our sovereignty is one of the things that we hold on dearly to, and we demonstrated that very clearly to both President Zielinski and to President Putin when it came to this issue even as there were suggestions that yes we can donate this we can donate that, we said we want you to release these grains and fertilizers to the World Market so that the world can trade in these Commodities and other issues we can handle in a different way. President Macron, I just want to start off on a very positive note in terms of what I think is evolving here, I think there is consensus that is clearly embraced by everyone that we need to address climate and poverty because they go together, there’s a Nexus and as it were we need to burn the candle on both sides, so that’s important, so that’s agreed, and we all recognize and accept that we need Capital at scale to address the key challenges that many countries in the world face particularly the developing economic countries, and we also would agreed that there needs to be more cooperation and coordination between your development Banks, multilateral development Banks and the private sector, there need to be coordination so that there is no fragmentation which you kept talking about, but I think what is important to many of us is that there should be solid consensus on the reform of the financial architecture of the world, because without that reform the dreams and the objectives that we have to address our challenges will not be realized, and that those reforms need to touch on a whole range of issues, Mr Moore Ibrahim yesterday even spoke about something that we may think is Insignificant, that the boards of directors of your multilateral institutions are not made up of independent directors they are largely internal people or shareholders, so that in itself for us it’s an important reform. When we have the BRICS meeting, the issue of currency is top of the agenda, so we are going to discuss it.

(FULL TRANSCRIPT) Thank you very much, President Macron, Let me start off by saying, President Lula, don’t worry. President Ramaphosa’s remarks at the Closing Ceremony of the New Global Financing Pact Summit in France

Macron speech ai transcript