United Nations: External Affairs Minister (EAM) S Jaishankar called for urgent reforms of the international decision-making structures, especially the Security Council, to give the Global South its due representation. Speaking at the Foreign Ministers' meeting of the G20, Jaishankar said reforming the United Nations to ensure it was representative, credible, and effective was imperative and urgent.
The reforms should include expansion of both permanent and elected seats on the Security Council, he said. The ministers of the G20, the group of major developed and emerging countries, met on the sidelines of the UN General Assembly's high-level meeting. In a speech that dealt at length with the international financial and development organizations, Jaishankar said that it was imperative to bring in reforms to make the international financial architecture more "robust, expansive, and effective".
In this context, he mentioned India's efforts when it was the chair of the G20 to reform multilateral development banks (MDBs) to meet the aspirations of the developing world. During its presidency of the G20, India set up a panel of international economic experts to recommend reforms to the MDBs, and their suggestions were adopted by the G20.
The panel's recommendations included raising more capital, tripling by 2030 lending for sustainable development, streamlining procedures, and encouraging more risk-taking in funding programs. He also took aim at the World Trade Organisation (WTO), calling for its comprehensive reform to ensure a rules-based, non-discriminatory, and fair multilateral trading system.
The EAM said protectionism and market-distorting practices of the international trading system worked against developing countries and stressed the role of the G20 in promoting reforms in all areas of the international structures. "I look to all G20 countries to push for deep reforms so that global financial institutions reflect today's world and respond to today's challenges," he said.
Macron backs India's bid for permanent seat in UNSC
During his address at the UN General Assembly on Wednesday, French President Emmanuel Macron batted for India's addition as a permanent member of the United Nations Security Council (UNSC). He also supported the candidacy of Brazil, Japan, Germany and two countries from Africa to make the UNSC more inclusive and representative. "Let's make the UN more efficient. We need to make it more representative and that's why France is in favour of the Security Council being expanded. Germany, Japan, India, and Brazil should be permanent members, along with two countries that Africa will decide to represent them," he said. |
