AMN / WEB DESK
India has called for reforms in the global financial system to better support developing nations, emphasising greater representation for the Global South in international financial institutions and increased funding from Multilateral Development Banks (MDBs).
Speaking at a UN meeting, India’s Adviser, Department of Economic Affairs, Ministry of Finance Ms. Geetu Joshi stressed the need for a financial system more responsive to the needs of developing countries. She highlighted the importance of boosting MDB financing and fostering collaboration within the MDB ecosystem to address development challenges.
Ms Joshi highlighted India’s human-focused development model, which lifted 250 million people out of poverty, as an example of the Global South. She also advocated for a supportive regulatory environment and a cohesive global response to economic crises, with the UN playing a central role.