United Nations Secretary-General Antonio Guterres delivered a compelling address on Thursday, underscoring the urgent need for reforms in the UN Security Council and global financial institutions. He highlighted how the rapid economic growth in developing nations is outpacing developed economies, demanding a restructuring of international power structures.
Guterres painted a vivid picture of shifting global dynamics: ‘Every day, the share of developed economies in global GDP shrinks a little more. Every day, emerging economies grow in size, strength, and influence. Every day, South-South trade surpasses North-North trade.’
He emphasized that the institutions established in 1945, including the UN and key financial bodies, are ill-equipped to tackle today’s challenges. ‘Our structures must reflect this changing world,’ he asserted, calling for updates to both the Security Council’s composition and the power dynamics in international finance.
Recent UN data backs his claims. Last year, developing economies expanded by 4.2%, compared to just 2.9% in developed ones. India, a vocal proponent for permanent UNSC membership, led with a staggering 7.4% growth, solidifying its position as the world’s fastest-growing major economy.
This speech marked Guterres’ final annual address to the General Assembly before completing his second term this year. Amid discussions of global crises eroding international cooperation, he pointed to pockets of progress where the UN has carved out new roles.
‘Let us recognize that amid this turmoil, we have carved out space for the United Nations in areas where its presence was far from assured,’ Guterres noted. Without naming the US or Russia—permanent members accused of veto abuses—he warned against forces undermining multilateralism.
‘Some are pushing international cooperation toward a breaking point, shaking the foundations of global collaboration and testing the resilience of multilateralism,’ he said firmly. ‘I assure you: we will not give up.’ He also alluded to the UN’s funding woes, stemming from unpaid dues by major contributors, without direct accusations.
Guterres’ vision for reform signals a pivotal moment for global governance, urging world leaders to adapt to economic realities and foster inclusive institutions for a balanced future.
