Today: 25 August 2025
18 April 2023
1 min read

Guterres urges renewal of global financial architecture

He warned that the 2030 Agenda and the Sustainable Development Goals (SDGs) are turning into “a mirage of what might have been..reports Asian Lite News

UN Secretary-General Antonio Guterres has called for worldwide engagement and support to renew the international financial architecture, which he said was created for a world “no longer exists”.

Guterres made the remarks on Monday at the opening of the Financing for Development Forum, which takes place at the UN headquarters in New York from April 17 to 20, Xinhua news agency reported.

He warned that due to a multidimensional crisis, the 2030 Agenda and the Sustainable Development Goals (SDGs) are turning into “a mirage of what might have been,” as communities and governments struggle to meet immediate needs.

Inequalities within some countries are regressing toward early 20th century levels, a time before women were allowed to vote, and before widespread acceptance of the concept of social protection, he said.



According to Guterres, the United Nations has proposed the SDG Stimulus plan to scale up affordable long-term financing for all countries in need, aiming to boost investments that will help to achieve the SDGs, relieve the debt burden of developing countries, and improve access to funding.

“In the longer term, we will not solve today’s challenges by relying on the financial system that helped to cause them,” he noted.

The global financial architecture was created for a world that no longer exists, Guterres said, adding that “it cannot address the challenges faced today by developing countries” and “has failed countries at their moment of greatest need.”

It is now widely recognized that the world needs an economic system that is coherent and coordinated, and reflects today’s global economic reality, a system that supports stable economic conditions and helps countries to invest in the SDGs, he said.

“We need engagement and support from all corners of the world to renew the international financial architecture and make it able to face the challenges of today and tomorrow,” said Guterres.

ALSO READ: India’s geopolitical ambitions challenge China’s hegemony

Previous Story

Blinken speaks to Sudan Generals, calls for ceasefire

Next Story

Watchdog opens probe on Sunak

Latest from -Top News

‘FAMINE’

UN Secretary-General Antonio Guterres says living situation in Gaza can be described as “famine”…reports Asian Lite News United Nations (UN) Secretary-General Antonio Guterres said that the word “famine” could be used to

Ban Coal Exports to Israel

More than 100 pro-Palestine activists launched protests on Thursday in three major South African cities, calling on the government to ban coal exports to Israel…reports Asian Lite News Pro-Palestine activists are pictured

US sanctions more ICC judges

Washington hits at The Hague with fresh sanctions on four ICC judges and prosecutors, including French and Canadian officials, over probes targeting Israel and US actions abroad….reports Asian Lite News The United

UAE Wows Osaka!

The UAE Pavilion at Expo 2025 Osaka celebrates its three millionth visitor, blending culture, innovation, and hospitality in an immersive showcase of heritage, sustainability, and forward-looking global vision….reports Asian Lite News The

MBS & Sisi talk ties, Palestine

The two leaders reviewed the historic and strategic relations between Riyadh and Cairo and explored new ways to bolster cooperation…reports Asian Lite News Saudi Crown Prince and Prime Minister HRH Mohammed bin
Go toTop

Don't Miss

UAE President, Guterres discuss regional developments

They called for restraint and prioritising the voice of wisdom

UN Chief calls for elimination of nuclear weapons

Guterres noted that the elimination of nuclear weapons would be