Veep Opoku-Agyemang pushes for a global financial system that does not deepen vulnerability

Vice President Professor Naana Jane Opoku-Agyemang has advocated for reforms in the global financial system to prevent poorer nations from becoming more economically vulnerable. She emphasized that international financial arrangements should address the needs of developing countries and enable them to pursue their development goals.

During her opening remarks at the Global South Academic Forum in Shanghai on October 17, 2026, she emphasized the importance of global South countries, comprising Africa, Asia, Latin America, and the Caribbean, having a stronger voice in shaping decisions that impact the global economy and their development prospects. Despite accounting for a significant portion of the world's population, natural resources, and economic activity, these countries often lack adequate representation in international institutions.

To rectify this, the global order must evolve to reflect the current realities and grant developing countries a more substantial voice in decisions affecting their economies and populations. Opoku-Agyemang also stressed the necessity for global climate arrangements to consider the distinct circumstances of developing countries. She urged countries of the Global South to collaborate and devise development strategies that cater to their unique circumstances, such as learning from China's development experience without adhering to a uniform political system or model.

Furthermore, she called for enhanced collaboration among universities and research institutions in the Global South, particularly in science, technology, and artificial intelligence. Beyond infrastructure development, South-South cooperation should aim to bolster local productive capacity, foster research and innovation, and generate opportunities for young people.

In terms of governance, Opoku-Agyemang highlighted the role of political parties in national development and the endurance of democratic institutions. She argued that political parties must enhance policy development, political education, and democratic accountability, while promoting greater participation of women and young people in political processes.

The Global South Academic Forum, an initiative by the International Communication Research Institute of East China Normal University, brings together scholars, policymakers, and media professionals to deliberate on governance, political parties, and modernization in developing countries, providing a forum for examining how these nations can bolster cooperation and impact global decision-making more effectively.