UN Chief Calls for Power Redistribution in Global Institutions

Antonio Guterres says the world economy has changed since major international institutions were created.

Emerging countries now make up a larger part of the global economy.

However, their influence in some global institutions has not increased as much.

China is now the world’s second-largest economy by GDP, and India may soon move into fifth place.

Guterres says the United Nations Security Council and Bretton Woods institutions need reform.

The Bretton Woods system includes organizations such as the International Monetary Fund and the World Bank.

He believes countries should have power that better matches their economic importance.

He says the current power-sharing system makes global institutions less effective.