UN chief calls on reforming Security Council to align with "realities of today's world"
UN Secretary-General Antonio Guterres said on Sunday that it was time to reform the Security Council and the Bretton Woods monetary management system.
These institutions reflect the power relations of 1945, and the change is necessary to align with the "realities of today's world," Reuters reports, citing Guterres.
He shared this opinion during a press conference at the G7 summit in Hiroshima, Japan.
The global financial architecture became outdated, dysfunctional and unfair, Guterres said.
In the face of the economic shocks from the Covid-19 pandemic and the Russian invasion of Ukraine, it has failed to fulfill its core function as a global safety net, he added.
According to the UN chief, there was a growing understanding among developing countries that not enough was done to reform the outdated institutions and "remove frustrations" of the so-called Global South.
Among the representatives of these countries were India's, Brazil's, and Indonesia's leaders, who G7 host Japan made a point of inviting.
Despite the UN being created to ensure peace and security in countries, Russia still remains a member of the UNSC. Ukrainian officials have been demanding the exclusion of Russia for several months now because it has its seat there illegally.
Russia, however, has all the rights of a full member of the UN Security Council, and as a result, it can use its "veto" right for decisions that are inconvenient to the state.
The US Congress initiated a resolution to exclude Russia from the UN Security Council.