United Nations Secretary-General António Guterres has delivered a message to the leaders of the G7 group, urging them to undertake reforms in the UN Security Council and the Bretton Woods system established in 1944. Guterres is seeking a redistribution of power that reflects the current realities of the world.
Guterres has emphasized that developing and emerging economies are suffering severe consequences due to the COVID-19 pandemic, the climate crisis, unsustainable levels of debt, as well as issues such as rising interest rates, inflation, and the conflict in Ukraine.
The Secretary-General has pointed out that more than half of the world and the majority of countries are facing a deep financial crisis, which cannot be ignored by wealthy nations. Poverty and hunger are on the rise, and it is necessary to urgently address these issues.
In this regard, Guterres has emphasized that both the Bretton Woods system and the Security Council reflect the power relations that existed in 1945, and since then, many things have changed. The global financial architecture has become outdated, dysfunctional, and unjust, failing to fulfill its primary function as a global safety net.
Therefore, Guterres has called for the reform of the Security Council and the Bretton Woods institutions, stating that it is necessary to redistribute power in accordance with the current realities of the world. These reforms are essential to address global challenges and ensure greater equity and justice in global governance.