Venezuela emphasizes need for overhaul of international financial architecture
Date
9/25/2024 5:46:56 AM
(MENAFN) In a speech delivered on Monday at the UN Summit of the Future, Venezuelan Foreign Minister Yvan Gil emphasized the need for a comprehensive overhaul of the international financial architecture. He criticized the existing system, claiming it is designed "to perpetuate a model of domination and dependence." Gil called for an end to unilateral coercive measures, commonly known as sanctions, arguing that such actions hinder global development and progress.
Gil underscored the urgency of ensuring a balanced implementation of the three pillars of the United Nations, which include peace and security, human rights, and development. He asserted that a peaceful, prosperous, just, and equitable world order is essential for fostering genuine global cooperation and growth. His comments reflect a broader sentiment within Venezuela regarding the challenges posed by current international norms and practices.
Moreover, the Venezuelan Foreign Minister expressed a strong belief that the right to development should serve as both the driving force and the ultimate goal of the United Nations. He asserted that alongside the desire for peace, the people of Venezuela deserve to live better lives, which can only be achieved through a commitment to equitable development.
Gil’s address aligns with Venezuela’s long-standing position advocating for systemic change in global governance structures. By pushing for these reforms, he aims to address the disparities and inequalities that have persisted within the international financial system, thereby promoting a more inclusive approach to global development.
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