G77 Summit in Cuba to Focus on Global Financial System Reform

The G77+China Summit is taking place in Havana, Cuba, during September 15-16. The G77 is a group of countries that brings together the leaders and representatives of the Global South. Founded in 1964, the bloc now consists of 134 countries that account for nearly 80% of the world’s population, 46% of the world’s GDP, and two-thirds of the member countries of the United Nations.

The summit agenda includes dialogue on science and technology for development, the environment, the world economic order, and other issues of global impact. According to Cuban Foreign Minister Bruno Rodríguez, the final declaration of the summit will focus on the need for a “reform of the international financial system, the urgent elimination of unilateral coercive measures, and the establishment of a new international economic order.”

This year’s G77 summit gives Cuba a leading role in the international geopolitical scenario and highlights the “capacity of Cuban diplomacy” at a strategic time, given the fractures between the West and powers such as China and Russia, Minister Rodríguez said.

Xi Pledges China’s Continuous Support for Cuba in Opposing Interference

The inaugural speech of the summit was given by the Secretary General of the United Nations, António Guterres, just a few days before the 78th UN General Assembly takes place.

China is represented at the summit by the head of discipline of the Communist Party of China, Li Xi. China participated as an external partner for the first time in 1992, and is currently an important member of the bloc. China’s closeness with the countries of the Global South means an increase in its international trade and more allies for the construction of the emerging multipolar order.

(Misión Verdad)

Translation: Orinoco Tribune

OT/SC/AF