UN: The International Financial System Needs Reform
Burc Oran
December 17, 2021
UN: The international financial system needs reform

United Nations (UN) Secretary-General Antonio Guterres said that the current global financial system, which increases inequalities and instability, needs reform.

At a press conference, Guterres stated that he is extremely concerned about the Covid-19 epidemic, increasing inequalities, decreasing resources, high inflation, and the climate crisis, “If this situation does not improve quickly, we will face more difficult times.”

Antonio Guterres stated that things have gotten extremely bad and ugly in the epidemic and the economic and financial fields. He added that ‘’ Solidarity is the only solution.”

Stating that it has become clear that Covid-19 has not disappeared and that vaccines cannot eliminate the epidemic alone, Guterres said that the target of the World Health Organization to vaccinate 40 percent of the entire world population by the end of the year could not be met.

He mentioned that they are aware of the economic crises experienced worldwide, especially in developing countries. He added that ”this is causing social turmoil and instability, so the international financial system needs reform.”

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