UN leaders urge ‘wholesale reform’ of global financial architecture

adminApril 15, 2024September 19, 202406 mins

Addressing a high-level meeting of the General Assembly on debt sustainability, António Guterres outlined the crippling impact of debt on developing economies. “No example of the international financial architecture’s failure is more glaring than its handling of debt. The last four years have been nothing short of a debt disaster,” he said. He noted that…

Reform global financial architecture to achieve sustainable development: UN deputy chief

adminApril 13, 2023September 11, 202407 mins

Delivering remarks at a forum on reform held during the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, she called for course correction now – the halfway point to achieve the goals by 2030. In recent years, developing countries have been battered by soaring energy and food costs, the climate emergency,…