UN Sec-Gen Guterres: There is a real risk of fragmentation in world economic and financial systems

António Guterres, the ninth Secretary-General of the United Nations (UN), said on Thursday, “there is a real risk of fragmentation in world economic and financial systems.”

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Diverging strategies on AI, conflicting security frameworks.

Developed countries must deliver on climate commitments to developing countries.

Need to establish effective debt workout mechanism to support payment suspensions, longer lending terms, lower rates.

Need to increase liquidity by rechanneling $100 bln of unused special drawing rights through multilateral development banks.