UN, IMF and World Bank need reforms, says PM Modi

PM Modi said that geopolitical fragmentation reforms are needed in major international organisations.
Prime Minister Narendra Modi. (Photo | PTI)
Prime Minister Narendra Modi. (Photo | PTI)

NEW DELHI: The developing world is concerned about the increasing fragmentation of the international landscape. Geopolitical tensions distract us from focusing on our development priorities, which causes sharp swings in international prices of food, fuel, fertilisers and other commodities, said Prime Minister Narendra Modi, during the concluding session of the first Voice of Global South Summit.

PM Modi also said that to address this geopolitical fragmentation reforms are needed in major international organisations, including the United Nations Security Council and the Bretton Woods institutions (which includes the World Bank and International Monetary Fund).

“These reforms should focus on giving voice to the concerns of the developing world, and reflect the realities of the 21st Century. India’s G20 Presidency will attempt to voice the views of the Global South on these important issues,’’ Modi added.

After extending support by supplying Covid vaccines to over 100 countries during the pandemic, the PM announced a new “Aarogya Maitri” project’ under which  India will provide essential medical supplies to any developing country affected by natural disasters or humanitarian crisis.

“For synergising our diplomatic voice, I propose a ‘Global-South Young Diplomats Forum’, to connect youthful officers of our foreign ministries. India will also institute ‘Global-South Scholarships’ for students from developing countries to pursue higher education in India,’’ he added.

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