In a stark warning to the international community, UN chief Antonio Guterres argued Thursday that the explosive growth of developing economies necessitates sweeping changes to the Security Council and global financial systems. As power shifts southward, outdated structures risk irrelevance.
The Secretary-General detailed the inexorable trend: developed nations’ GDP slice is eroding daily, while emerging markets surge ahead in scale and clout. South-South commerce now eclipses traditional North-North exchanges, he observed.
‘Institutions built in 1945 can’t solve 2026’s problems,’ Guterres declared. He advocated equally for UNSC expansion to mirror today’s realities and for rebalancing influence in bodies like the IMF and World Bank.
Backing his case, a fresh UN World Economic Situation report revealed developing countries grew 4.2% last year versus 2.9% for advanced economies. India topped the charts at 7.4%, bolstering its push for a permanent Security Council seat.
Delivering what may be his last major General Assembly speech, Guterres reflected on a world battered by crises yet showing glimmers of hope for UN relevance. He sidestepped direct criticism of veto-wielding powers like the US and Russia, often blamed for paralyzing the Council.
Instead, he decried broader threats: ‘Certain actions are driving international cooperation to the brink, undermining multilateralism’s bedrock.’ On funding, he indirectly referenced America’s dues shortfall crippling UN operations.
With resolve, Guterres vowed persistence: ‘We will not yield.’ His remarks ignite fresh debate on reforming global institutions to embrace the multipolar era, where economic heavyweights like India demand a seat at the high table. As developing giants rise, the call for equitable representation grows louder, promising either evolution or obsolescence for the UN.