Maldives Urges Global Financial Reform for SIDS

Maldivian Minister of Foreign Affairs Iruthisham Adam has called for urgent reforms to the international financial architecture to help Small Island Developing States (SIDS) address their vulnerabilities.

The Minister made the remarks while addressing the Commonwealth Foreign Affairs Ministers Meeting held on the sidelines of the 28th Commonwealth Heads of Government Meeting (CHOGM), taking place from 1 to 4 November in St. John's, Antigua and Barbuda.

Speaking at the meeting, Minister Iruthisham emphasized that contemporary global challenges can only be overcome through united multilateral efforts. She noted that Commonwealth member states can achieve their shared objectives only if the organization remains responsive to evolving modern realities and maintains strong governance.

Minister Iruthisham highlighted that the Commonwealth must play a crucial role in securing financial assistance to bolster economic sustainability and address climate change impacts in developing small island nations. In this regard, she reiterated the urgent need to reform the global financial system so that it adequately caters to the distinct vulnerabilities of these states.

Furthermore, the Minister called for equal opportunities for all member countries in Commonwealth decision-making processes and leadership roles, irrespective of size or capacity. She reaffirmed the Maldives' commitment to working closely with the Commonwealth for the collective benefit and mutual interests of all members.

On the sidelines of the ministerial gathering prior to the official commencement of the CHOGM summit, Minister Iruthisham also held separate bilateral meetings with the Foreign Ministers of Antigua and Barbuda, the Solomon Islands, and Grenada. The discussions focused on broadly strengthening bilateral cooperation with each nation.