The UN Secretary General Antoniu Guterres called for the creation of a new Bretton Wood system, and said that the current global financial system is undergoing a crisis. The head of the World Organization said this at a summit on a new global financial pact in Paris.
The UN Secretary General called the current global financial system unfair. According to him, it does not meet the requirements of the 21st century.
According to him, the global financial system “is undergoing a crisis.” “It is impossible to find a serious decision to a crisis without serious reforms,” he said.
GUERRISH called for the creation of a new Bretton Wood system for rethinking and changing the architecture of the global financial system.
more than 550 million people around the world cannot find food, and developing countries take loans at high interest rates, he said.
The President of France, who spoke at the summit, Emmanuel Macron, in turn, emphasized the growth of social inequality in the world. “Coronavirus pandemic and the war between Ukraine and the Russian Federation aggravated the existing crises. The current global financial system is the fruit of agreements reached in the past,” he said.
Macron emphasized that each country should be able to choose its own path, and the new pact should respect the sovereignty of each country.