{"id":3647,"date":"2026-09-13T01:46:02","date_gmt":"2026-09-12T22:46:02","guid":{"rendered":"https:\/\/dailybusiness.info\/?p=3647"},"modified":"2026-09-13T01:46:02","modified_gmt":"2026-09-12T22:46:02","slug":"at-sco-summit-egypt-calls-for-urgent-overhaul-of-global-security-and-financial-institutions","status":"publish","type":"post","link":"https:\/\/dailybusiness.info\/?p=3647","title":{"rendered":"At SCO summit, Egypt calls for urgent overhaul of global security and financial institutions"},"content":{"rendered":"
\n

Egypt urged immediate reform of the United Nations Security Council and global financial institutions to grant developing and African nations equitable representation and alleviate mounting debt burdens, Deputy Prime Minister for Economic Affairs Dr. Hussein Issa said at the SCO Plus summit in Bishkek.<\/p>\n

Delivering a speech on behalf of President Abdel Fattah al-Sisi at the summit, which marks the 25th anniversary of the Shanghai Cooperation Organisation (SCO), Issa stated that reforming global governance is no longer an option but a top priority to meet the demands of the 21st century.<\/p>\n

Issa reaffirmed Egypt\u2019s commitment to the unified African position on Security Council reform, as outlined in the Ezulwini Consensus and the Sirte Declaration, demanding a genuine and influential voice for developing nations in global decision-making.<\/p>\n

Addressing the global economy, the deputy prime minister called for restructuring the global debt architecture and reforming international financial institutions to make them more equitable. Issa noted that developing countries cannot be expected to achieve sustainable development while their resources are drained by escalating debt service burdens. He advocated for enhancing existing financing mechanisms and empowering multilateral development banks to ensure fairer access to funding.<\/p>\n

\"
Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs<\/strong><\/figcaption><\/figure>\n

The summit, held under the theme of the UN\u2019s role in shaping a multipolar world, took place amid an unprecedented degree of global uncertainty, Issa said. He warned that complex security, political, developmental, and environmental challenges\u2014led by international terrorism\u2014cannot be tackled by individual states or unilateral actions serving narrow interests.<\/p>\n

Highlighting Egypt\u2019s regional role in mediation, counter-terrorism, and peacebuilding, Issa argued that sustainable peace requires addressing root causes such as occupation, poverty, and climate change. He stressed the critical need for adequate and sustainable funding for peacekeeping operations, describing it as a high-return investment rather than a cost, particularly when compared to the destruction caused by armed conflicts.<\/p>\n

Issa expressed support for the UN Secretary-General\u2019s reform efforts, provided they protect developing nations\u2019 interests without merely redistributing influence among certain blocs of states.<\/p>\n

Concluding his address, he thanked Kyrgyz President Sadyr Japarov for the invitation and reaffirmed Egypt\u2019s commitment to building practical partnerships and enhancing cooperation within the SCO framework.<\/p>\n

Does this synthesis capture the precise level of detail you need for the financial and structural reform arguments, or would you like those specific sections expanded further?<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Egypt urged immediate reform of the United Nations Security Council and global financial institutions to grant developing and African nations equitable representation and alleviate mounting debt burdens, Deputy Prime Minister for Economic Affairs Dr. Hussein Issa said at the SCO Plus summit in Bishkek. Delivering a speech on behalf of President Abdel Fattah al-Sisi at […]<\/p>\n","protected":false},"author":12,"featured_media":3648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-3647","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"yoast_head":"\nAt SCO summit, Egypt calls for urgent overhaul of global security and financial institutions - daily business egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailybusiness.info\/?p=3647\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"At SCO summit, Egypt calls for urgent overhaul of global security and financial institutions\" \/>\n<meta property=\"og:description\" content=\"Egypt urged immediate reform of the United Nations Security Council and global financial institutions to grant developing and African nations equitable representation and alleviate mounting debt burdens, Deputy Prime Minister for Economic Affairs Dr. Hussein Issa said at the SCO Plus summit in Bishkek. 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