UN secretary general: International economic system needs reform

UN Secretary-General Antonio Guterres said that the current international economic system and financial architecture need serious reform, Report informs referring to Turkmen media.

The current international economic and financial architecture, formed after World War II without the participation of most developing countries, today does not meet the challenges of the time and needs to be reformed, Guterres said.

He stressed the need for urgent debt relief, an increase in concessional financing and strengthening the capacity of international financial institutions. In addition, Guterres noted the importance of revising international rules and removing logistical barriers that impede the free movement of goods and services from landlocked countries.

He also called for investment in infrastructure not only within these states, but also in neighboring regions.

Turkmenistan is hosting the third UN Conference on Landlocked Developing Countries (LLDC3).