“UN remains a prisoner of the past” India’s Foreign Minister tells G 20 members

- ADVERTISEMENT -

United Nations – Criticizing the outdated structures of the United Nations, India’s Minister of External Affairs, Subrahmanyam Jaishankar made a strong case for reforms in three important areas of international governance in his address at the G20 Foreign Ministers’ Meeting held at the United Nations, September 25, 2024.

In a blunt and relatively brief address Jaishankar called for an overhaul of international institutions that he contended, are operating behind the times.

“First is the reform of the UN and its subsidiary body,” Jaishankar said, noting that UN governance had remained unchanged since its inception even though its members had increased four-fold.

The old structure of the UN led to the loss of effectiveness and credibility, which, Jaishankar said, results today in the UN Security Council not being able to effectively maintain international peace and stability. This would continue if the Security Council did not expand the Permanent and rotating members, he contended.

“Expansion and proper representation in the permanent category is a particular imperative,” he said.

“Asia Africa and Latin America, the Global South, cannot continue to be short changed. They must be given the legitimate voice,” Jaishankar said ,asserting, “Real change needs to happen, and happen fast.”

He also called for reform of the international financial architecture.

The World Bank and the International Monetary Fund were handling urgent issues arising from persistent development challenges and pressing climate change, Jaishankar pointed out.

“Neither the MDBs (Multilateral Development Banks) nor the orthodox global financial system were designed to handle them,” he said. That includes the investment shortfall for meeting Sustainable Development Goals estimated at $4 trillion annually, Jaishankar said.

“As key anchors of the global development financing landscape MDBs must be made more robust expansive and effective,” he added.

Jaishankar referred to India’s hosting of the 2023 G20 summit in New Delhi during which he said great progress was achieved.

“The 2024 G20 road map for better bigger and more effective MDBs builds on the New Delhi mandate and the recommendations of the 2023 G20 independent expert group on strengthening MDBs,” he said. Leaders at the G20 meeting chaired by India, he said, had called for expanding development and climate finance from billions to trillions during that meeting.

Jaishankar also referred to the suggestion of the India G20 for MDBs to refine their vision, incentive structures, operational approaches and financial capacities to maximize their development impact.

The third reform Jaishankar called for was within the multilateral trading system.

“A reformed and fair multilateral trading system is vital for our future to be more equitable and inclusive,” he said, to ensure a level playing field and fair competition market that would foster a favorable trade and investment environment, which the World Trade Organization lacks.

“India calls for comprehensive reform of the WTO to enhance its functions through an inclusive member-driven and transparent process,” he said, emphasizing the need for a fully operational and effective dispute settlement mechanism and system which were accessible to all members.

“Breaking the stasis requires more than incremental changes; it demands bold, transformative action. The world looks to the G20 in this regard,” Jaishankar said.

In the 2023 G20 summit, Prime Minister Narendra Modi had expressed hope for a shift toward a human-centric development approach aligned with concerns of the Global South which include addressing climate change, debt restructuring through the G20’s Common Framework for debt, and a strategy for regulation of global crypto-currencies.