Lula Accuses the Rich of Hypocrisy and Calls for More Voice for Global South and Indigenous Peoples
At the UN, the president mentioned the need for changes in the global power balance
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“The false opposition between state and market was abandoned by developed nations, which have returned to practicing active industrial policies and strong regulation of the domestic economy,” he said in his speech at the opening of the United Nations General Assembly.
The Brazilian head of state mentioned the African continent and also cited Cuba to emphasize the need to increase the representation of less-resourced nations at the UN.
“African countries take loans at rates up to eight times higher than Germany and four times higher than the United States. It’s a reverse Marshall Plan, where the poorest finance the richest. Without greater participation of developing countries in the leadership of the IMF and the World Bank, there will be no effective change,” he added.
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