- UN chief urges reform of Security Council, Bretton Woods
- UN’s Guterres said that it was time to reform both the Security Council and Bretton Woods to align with the “realities of today’s world,”
- Similarly, the Indian PM said that the UN and the Security Council will remain just a “talk shop” if they do not reflect the realities of the present world.
- According to the IMF, the seven major economies account for nearly 30 percent of the global GDP in 2023.
- “They do not reflect the realities of the present. That is why it is necessary that reforms should be implemented in big institutions like the UN,” said the Indian PM.
The United Nations Secretary-General Antonio Guterres and Indian Prime Minister Narendra Modi, on Sunday (May 21) amid the ongoing Group of Seven (G7) summit in Japan’s Hiroshima called for reform of the UN Security Council to reflect the realities of the present world.
Addressing a press conference in Japan, Guterres said that it was time to reform both the Security Council and Bretton Woods to align with the “realities of today’s world,” adding that both institutions reflected the power relations of 1945 and are in need of an update. He also noted how the global financial architecture had become “outdated, dysfunctional and unfair,” as per Reuters.
He also went on to note how he felt a growing consciousness among developing countries at the G7 summit that not enough steps are being taken to reform these decades-old institutions or “remove the frustrations” of the Global South, reported Reuters.
In its World Economic Outlook published earlier this year, the International Monetary Fund said that India and China will account for nearly 50 percent of the world’s growth in 2023. On the other hand, it is also worth noting that the G7 group of wealthy countries’ economic clout has also shrunk in the past three decades or so.
According to the IMF, the seven major economies account for nearly 30 percent of the global GDP in 2023, as opposed to 50.7 percent in 1980, reported Reuters. “The G7 members were able to discuss with some of the most important emerging economies in the world,” said Guterres.
As the G7 presidency holder, Japan also invited leaders from the so-called Global South to Hiroshima for talks including Indian PM Narendra Modi, Brazil’s President Luiz Inacio Lula da Silva, and Indonesian President Joko Widodo.
During his address at a G7 session in Hiroshima, the Indian PM said that the UN and the Security Council will remain just a “talk shop” if they do not reflect the realities of the present world and called for reform of the global body, reported a news agency. He also went on to ask why even the definition of terrorism has not been accepted in the UN, adding that “If one introspects, one thing is clear – The institutions created in the last century are not in line with the system of the twenty-first century,” as quoted by a news agency.
“They do not reflect the realities of the present. That is why it is necessary that reforms should be implemented in big institutions like the UN,” said the Indian PM, adding that these institutions also need to become the voice of the Global South. “Otherwise, we will only keep talking about ending the conflicts. The UN and the Security Council will remain just a talk shop,” said PM Modi, at a G7 session.
New Delhi is eyeing a permanent seat on the UNSC, which is currently held by five countries – Russia, the United Kingdom, China, France, and the United States, who wield the power to veto any substantive resolution.
(With inputs from agencies)
