Foreign Minister Shirley Ayorkor Botchwey has addressed a forum of Small Island Developing States (SIDS) in Antigua, advocating for a transformation of the international financial system to protect vulnerable nations.

“Ghana is committed to the fight of the SIDS because it is right, it is necessary, and because we have the moral duty to do so,” Ms Botchwey told the gathering, which included UN Secretary-General Antonio Guterres and leaders from around the world.

“Ghana urges support for the 2022 Bridgetown Initiative for the Reform of the Global Financial Architecture,” she said, referring to a reform proposal initiated by Barbados Prime Minister Mia Mottley.

SIDS, which includes 39 countries and 18 associate members, make up one per cent of the global population but suffers disproportionately from climate disasters and economic challenges due to their geographical remoteness and dependency on the ocean.

Ms Botchwey emphasised the shared vulnerabilities and the global importance of SIDS' success.

“The success of SIDS would be the success of the entire globe. We are committed to their fight for resilience,” she stated.

The Bridgetown Initiative highlights the urgent need for adequate funding for climate action and infrastructure development in low- and middle-income countries for a more equitable and sustainable future.

Prime Minister Mottley echoed Ms. Botchwey's sentiments “We must build a more responsive, fairer, and more inclusive global financial system, and we must do so with pace and with scope. Speed and scope are what is missing.”

Ms. Botchwey also called for debt relief and increased concessional finance and investment in SIDS, stressing the importance of building economic resilience in developing countries.

Ghana chairs the Climate Vulnerable Forum (CVF), which includes 68 of the most climate-vulnerable countries.

At a recent CVF Finance Ministers meeting, there was a call for major reforms to the international financial system to enable developing countries to meet climate goals.

Ms Botchwey extended condolences on behalf of Ghana to Papua New Guinea following a devastating landslide and held bilateral meetings with leaders from Mauritius, Maldives, Nauru, Tonga, Tuvalu, and Antigua.

Ms Botchwey, a leading African diplomat, is a candidate for Secretary-General of the Commonwealth of Nations, with the election set for October.

The Commonwealth includes 56 countries, 33 of which are small states, including 25 SIDS. The organisation has a population of 2.6 billion and a combined annual GDP of $13 trillion.