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AfricaMoney | August 20, 2017

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Global economy as weak as weakest links: Ramgoolam to UN

Global economy as weak as weakest links: Ramgoolam to UN

Mauritius’ Prime Minister Navin Ramgoolam addresses the UN General Assembly (Source: UN News Centre) Addressing the 68th session of the United Nations General Assembly on September 28, the Prime Minister of Mauritius, Navin Ramgoolam, declared that the UN Post 2015 Development Agenda must include a Roadmap for an interconnected world economic system. In this context, he warned that the global economy could very well be as weak as its weakest links.

Elaborating on the need for an overhaul of present economic governance, the Prime Minister said that the island nation is in favour of a more participatory system of global economic governance. The voice of all nations, big or small, should be equally heard and taken into consideration for international economic decision-making and norm-setting, he said.

Acknowledging the UN’s crucial role in formulating, implementing and enforcing a new international order relating to the oceans, the Prime Minister said there is need for a Global Vision for the Oceans which will expand the economic space for small islands states nations, whilst ensuring sustainable use of living and non-living resources.  He underlined the initiative taken by Mauritius to launch a National Dialogue to promote the Ocean economy as one of the main pillars of development.

Coming to the global economy, Ramgoolam noted that growth prospects remain uncertain, largely as a result of multiple challenges faced by developed countries. The small, developing countries are extremely concerned by the slowdown of global growth, decline in international trade, decreasing job opportunities and rising inequality, he said.

The Prime Minister noted that small states are particularly susceptible to external shocks as they are heavily dependent on foreign markets for trade, tourism and investments. He also emphasized their concerns over energy and food prices, which are subject to high volatility.

The Prime Minister underscored the need for reinforced cooperation and partnerships at regional and international levels so as to address the weaknesses and inequity of present global economic governance. He listed out the universal concerns of eradication of poverty, women empowerment, providing jobs and education to young people, improving health care and management of energy, water and food.

Ramgoolam further stated that a comprehensive reform of the Security Council should include reform in the membership of both the permanent and non-permanent categories. Both Africa and Latin America deserve permanent representation in the Council and Small Island Developing States (SIDS) should also be entitled to a seat on the Council.  He also reiterated Mauritius’ support to India’s legitimate aspiration to a permanent seat in a reformed Security Council.

Source: Government of Mauritius

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