UN Secretary-General Guterres calls for global financial architecture reform, emphasizing debt transparency, local currency lending, new debt instruments, and fairer restructuring processes.
UN Secretary-General Antonio Guterres has called for a "wholesale reform" of the global financial architecture, particularly with regard to debt, during a high-level thematic debate on debt sustainability and socio-economic equality for all at the UN headquarters in New York. Guterres emphasized the need for enhancing debt transparency, scaling-up lending in local currencies, developing new debt instruments, and faster and fairer restructuring processes. He also highlighted the importance of increasing developing countries' representation across the international financial system.
April 15, 2024
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