Global Financial System Entrenches Inequalities And Geopolitical Issues, Says UN Secretary General

Rest Of The World September 21, 2022

In his opening speech at the 77th Session of the United Nations General Assembly in New York City on September 20, 2022, the United Nations (UN) Secretary General Antonio Guterres lambasted the global financial system, saying it was established by rich nations to safeguard their interests. He added that the system entrenches inequalities in the world and that it is the main cause of global geopolitical issues. He continued that the global financial system requires structural reforms and warned that failure to that may lead to, among others, civil unrests.

Also in his powerful speech, the pragmatic UN General Secretary talked about how foreign policies of nations are leading to a highly polarized world, wars, and overshadowing of the global climate change challenge.

Leaders of China and Russia are not attending the global UN gathering on this occasion.

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