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Kingston, Jamaica: UN Chief with Prime Minister Holness | Press Conference | United Nations

In Kingston, Jamaica, the Secretary-General, António Guterres, met with Prime Minister Andrew Holness to discuss a wide range of issues, including the country’s leadership in efforts to reform the global financial architecture. Briefing journalists at the end of the meeting on Monday (15 May), Guterres said that “there is a serious moral problem with the international financial system and there is a power problem”, noting that “the Bretton Woods institutions were created after the Second World War.” The UN chief added, “Jamaica was not independent at that time. Most African countries were not independent at that time. And obviously, the structure of what was created, with smaller limitations during the last decades, reflects the power relations that existed after the Second World War. They are outdated and so, the system is unfair and dysfunctional. The system needs reform, to adapt it to the realities of today's global economy.” The Secretary-general also noted that these reforms would help developing countries, including middle-income countries, to restructure and sustainably manage debt as well as access, technology and finance at affordable rates to invest for growth and inclusive, sustainable development. According to Guterres, “even with the present system, much more could have been done and much more can be done in relation to a better link between climate and finance and the stronger support to adaptation in particular, and in particular, in small island developing states.” “A lot more can be done in multiplying the effect of the work of multilateral development banks, if they change their business model - a new approach to risk- and they are able to use their resources to leverage massive access to private finance at reasonable costs for developing countries,” explained the Secretary-General. During their meeting, the Secretary-General and the Prime-Minister also discussed the situation in Haiti and how to involve the international community more strongly. Guterres said that “Haiti is in a tragic, tragic situation” and has “dramatic humanitarian needs.” He added, “You have a political system that is paralyzed, and you have levels of violence by gangs that are absolutely appalling. The number of people killed, the number of people unable to live their lives, the dramatic food insecurity problems are indeed something that needs a much stronger commitment by the international community.” According to the UN chief there is also “a political problem” and a “need to bring the different stakeholders together to find the political way for a legitimate government to be recognized by all, at the moment in which that political process is successful.” Guterres and Holness also discussed the impact of the climate crisis in the Caribbean region and the upcoming mid-term review of the global framework for disaster risk reduction. Jamaica is the co-chair of the Group of Friends on Financing for Development, alongside Canada. Full remarks: https://www.un.org/sg/en/content/sg/p...