NEW YORK, USA: The President of Liberia, Joseph Boakai says Liberia has encountered significant obstacles in making progress towards the Sustainable Development Goals (SDGs) although the country is dedicated to overcoming the challenges.
He made the statement in New York, USA, on September 22, 2024, at the United Nations Global Compact: Private Sector Forum Summit of the Future held at the United Nations Headquarters.
“Our experience reflects the struggles of many developing nations, which are hindered by social and economic pressures,” he said.
President Boakai indicated that, recent reports show a concerning trend in global development.
According to him, the 2023/2024 Human Development Report revealed that the world’s poorest countries are falling behind, leading to greater inequalities and political divisions.
President Boakai added that, additionally, the “2024 Financing for Sustainable Development Report” indicates that Least Developed Countries (LDCs) are now spending 12% of their revenues on interest payments—four times more than a decade ago.
He noted that, this highlights the urgent need for reform in the global financial system.
He stressed that the current situation requires us to take decisive action.
“We need to address our common challenges together and overcome the obstacles that are holding back our progress,” he said.
He emphasized that, as UN Secretary-General António Guterres has emphasized, we must see these reports, especially the Human Development Report, as a call to action during this important Summit.
“In Liberia, we have made significant efforts to promote good governance, reduce waste and corruption, and ensure that all resources are used effectively for our country’s development in line with the 2030 Agenda for Sustainable Development,” he said.
He however added that, to accelerate the implementation of the 2030 Agenda, it is crucial to transform global governance. We need to advocate for a financial system that prioritizes liquidity and reduces the burden on developing nations.
He told the gathering that by promoting international cooperation and accountability, we can create a fairer financial environment that empowers all countries to pursue their development goals.
“I urge the international community to take drastic measures to alleviate the economic pressures faced by vulnerable nations.
Let’s work together to remove the barriers that hinder our potential and enable us to advance our shared vision for sustainable development” he stated.
He indicated that the prevailing developmental challenges deliver to Liberians a clear message that, if countries are to turbocharge to achieve the SDGs, the financial systems need to be reformed to help us achieve sustainable development.
He used the occasion to express his deepest appreciation to the international community and the United Nations for their ongoing support and partnership.
“Together, we can address the systemic challenges that hinder progress so as to unlock the immense potential of our global community and be guided by a spirit of cooperation and may our deliberations lead to meaningful actions that accelerate socio-economic development for all” he said.
He also told the gathering that, the Liberia’s recent presidential and general elections, conducted in a spirit of peace and democracy, paved the way for a smooth transfer of power just eight months ago and set an objective path to development.
He stressed that, in light of this, his government have introduced an ambitious agenda focusing on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism (A.R.R.E.S.T.) as the foundation for achieving our Sustainable Development Goals (SDGs).
“We are gathered here with a common mission to find ways to work together to make the world a better place for everyone, even though we are facing difficult challenges, I believe we are more determined than ever to overcome them” he concluded.
