World
It’s time to reform Security Council and Bretton Woods: UN chief Guterres
UN Secretary-General Antonio Guterres said on Sunday that it was time to reform both the Security Council and Bretton Woods to align with the “realities of today’s world.”
Speaking at a press conference in Hiroshima, Japan, where the Group of Seven summit meeting had been held, Guterres said both institutions reflected the power relations of 1945 and needed to be updated.
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“The global financial architecture is outdated, dysfunctional and unfair,” he said. “In the face of the economic shocks from the COVID-19 pandemic and the Russian invasion of Ukraine, it has failed to fulfil its core function as a global safety net.”
Read more: UN Security Council ‘failed to do everything to end Ukraine war’: Guterres