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World > UN News
'Failing the stress test': UN chief calls for global finance overhaul
By UN News
Sep 16, 2024 8:47 am

Some of the world's poorest countries spend more on debt repayments than health, education and infrastructure combined, severely hampering their chances of developing their economies. The UN is calling for an overhaul of the entire international financial system, to reduce inequality and improve people's lives.

'The international financial architecture, crafted in 1945 after the Second World War, is undergoing a stress test of historic proportions – and it is failing that test', argues UN Secretary-General António Guterres in a 2023 policy brief.

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