Title: Guterres: It’s Time to Reform the Security Council

UN Secretary-General Antonio Guterres stated today, Sunday, that "the time has come to reform both the Security Council and the Bretton Woods system." In a speech during a press conference in Hiroshima, Japan, Guterres said that "the Security Council and the Bretton Woods system reflect the balance of power in 1945 and need to be updated." He added, "The global financial structure is outdated, dysfunctional, and unjust. In the face of economic shocks resulting from the COVID-19 pandemic and the Russian invasion of Ukraine, the (financial) structure has failed to perform its primary function as a global safety net."