Bishkek: UN Secretary-General Ant³nio Guterres called for reforms to the international financial system, arguing that developing countries continue to be burdened by unsustainable debt. 'We must reform the global financial architecture to introduce justice and equity and seriously address the debt that is strangling so many developing countries,' he told the Shanghai Cooperation Organisation (SCO) summit in Bishkek, Kyrgyzstan.
According to Emirates News Agency, Guterres also urged multilateral development banks to become 'bigger, better and bolder' in supporting countries' development efforts. He emphasized the necessity to reform multilateral institutions, including the United Nations and the Bretton Woods system, to reflect today's realities, and to increase the representation and influence of developing countries to build a just world order.
On the topic of artificial intelligence, the Secretary-General stated that artificial intelligence must work for all countries, not just a few. He stressed that this will require effective guardrails and a more inclusive governance mechanism to ensure that AI benefits everyone globally.