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Barbados PM Mottley Assails Finance System That Excludes Most

Sept. 22, 2022, 9:37 PM

In her address to the United Nations General Assembly Thursday, Prime Minister Mia Mottley of Barbados asked leaders to embrace a more inclusive global financial architecture that better serves the majority of today’s UN member states, most of which were not involved in the World War II-era Bretton Woods Agreement that gave rise to the World Bank and the International Monetary Fund.

Such multilateral institutions “no longer serve the purpose in the 21st century that they served in the 20th century,” she said.

To address inequities in the global financial system, she asked that nations demand change. Debt should carry clauses that waive repayment ...