G20 Summit in India opportunity to act on reforming global financial system amid crushing debt crisis: U.N. chief Guterres
1 year, 5 months ago

G20 Summit in India opportunity to act on reforming global financial system amid crushing debt crisis: U.N. chief Guterres

The Hindu  

U.N. Secretary-General Antonio Guterres has said that the G20 Summit to be hosted under India's Presidency provides an opportunity to take action on debt relief and reform the global financial system, as he voiced concern over the "crushing debt crisis" in the world. Mr. Guterres said that because most of these unsustainable debts are concentrated in poor countries, they are not judged to pose a systemic risk to the global financial system. Global public debt reached an all-time high of $92 trillion in 2022, and this five-fold surge in public debt levels since 2000 demands immediate action to tackle the escalating crisis affecting developing countries in particular. Levels of public debt are staggering – and surging," he said, adding that as global public debt reached a record $92 trillion dollars in 2022, developing countries shoulder a disproportionate amount.

History of this topic

G20 has will, capacity and determination to address global challenges: S African finance minister
1 week, 3 days ago
G20 Summit: Global South ’most adversely’ hit by food, fuel crisis due to global conflicts, says PM Modi
1 month ago
South Africa expects G20 to facilitate cooperation
1 month ago
South Africa expects G20 to facilitate cooperation
1 month ago
G20 Brazil Summit: Is G7 finally making way for emerging economies?
1 month ago
G20 should help address common global challenges
1 month ago
G20 should help address common global challenges
1 month ago
Pivotal moment for G20
1 month ago
G20 should help address common global challenges
Trending News
1 month ago
G20 should help address common global challenges
1 month ago
G20 should help address common global challenges
1 month, 1 week ago
Why the G-20 ‘Common Framework’ for Debt Relief Isn’t Helping Poor Nations
8 months, 2 weeks ago
G20 success: We must pursue promises of the New Delhi Declaration
1 year, 1 month ago
Sign world's multipolarization is accelerating
1 year, 3 months ago
G20 Declaration Shows World Leaders Found The Right Way: World Bank President Ajay Banga
1 year, 3 months ago
India forges compromise among divided world powers at the G20 summit in a diplomatic win for Modi
1 year, 3 months ago
G20 Summit can still drive solutions to our most pressing issues: Joe Biden
1 year, 3 months ago
Business News Live Updates Stock Market G20 Summit New Delhi IMF World Bank India-Middle East-Europe Economic Corridor Biofuel
1 year, 3 months ago
How to read the fine print of the G20 Delhi Declaration
1 year, 3 months ago
G-20 Summit 2023 | New Delhi Declaration underlines need for more finance to arrest global warming
1 year, 3 months ago
India credits emerging economies for G20 breakthrough
1 year, 3 months ago
G20 Countries Signed Agreement To Collectively Boost MDBs Financing Capacity: FM Nirmala Sitharaman
1 year, 3 months ago
G20 Summit: Managed to found common ground on geopolitical issues, represented Global South, says Jaishankar
1 year, 3 months ago
G20 summit kicks off; leaders begin deliberations on pressing challenges facing globe
1 year, 3 months ago
Business News Highlights: India Launches India-Middle East- Europe Economic Corridor At G20
1 year, 3 months ago
G20 summit today, differences narrowed over joint declaration
1 year, 3 months ago
G20 Summit: PM Modi stresses on respecting territorial integrity of all nations in connectivity initiatives
1 year, 3 months ago
G20 Summit: Geopolitical turbulence, a polarised world and India’s quest for diplomatic triumphs
1 year, 3 months ago
‘G20 Summit declaration will reflect voice of Global South,’ says Amitabh Kant
1 year, 3 months ago
G20 declaration will reflect strong voice for Global South, developing countries, says Sherpa Amitabh Kant
1 year, 3 months ago
G20 Summit: 5 Charts on How India Got Almost Half a Billion People Into the Banking System
1 year, 3 months ago
G20 Summit 2023: World Bank lauds transformative impact of digital public infrastructure in India
1 year, 3 months ago
G20: On climate, debt and digital, Bank and Fund pledge to work together
1 year, 3 months ago
G20 summit may see a breakthrough on health financing
1 year, 3 months ago
What to expect from the G20 leaders’ summit
1 year, 3 months ago
G20 Summit: Biden's Arrival in India Sets Stage for Key Talks with Modi
1 year, 3 months ago
G20 Summit 2023: What will be discussed by World Leaders during the mega event
1 year, 3 months ago
G20 Summit: IMF, FSB Propose Crypto Regulation Framework
1 year, 3 months ago
India’s rising geopolitical clout will be tested as it hosts the G20 summit
1 year, 3 months ago
G20 could pave way for crypto regulation, financial inclusion push
1 year, 3 months ago
India Has Shown Resolve to Make Disaster Resilience an Urgent Priority, Says NDMA Member-Secy Ahead of G20
1 year, 3 months ago
Can a divided G20 summit in India still set the global agenda?
1 year, 3 months ago
80% Of World GDP, 75% Of Global Trade: Why G20 Is Big Deal
1 year, 3 months ago
How India's G20 Summit agenda plans to reform multilateral development banks
1 year, 3 months ago
G20 Summit in Delhi: ‘India’s progress result of…’, says PM Modi
1 year, 3 months ago
Janet Yellen to attend India G20 summit, focus on economy, climate: U.S. Treasury
1 year, 3 months ago
G20 Summit India: Green development, climate finance among key issues on agenda
1 year, 3 months ago
G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman
1 year, 3 months ago
Indian PM Modi proposes full G20 membership for African Union
1 year, 3 months ago
US President Joe Biden to visit India from September 7-10 for G20 Summit; to push for IMF, World Bank reforms
1 year, 4 months ago

Discover Related