PM calls for UN, IMF reform
Monday, 21 Jan 2008 09:06
The prime minister is currently in India after paying a visit to China
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Prime minister Gordon Brown has called for international institutions to be reformed in order to face the challenges of a "world of globalisation".
Speaking to business leaders during his trip to India, Mr Brown called for the roles of intergovernmental organisations to be revised in order to make them more relevant and more representative.
He added: "We can and must do more to make our global institutions more representative. I support changes to the IMF, World Bank and the G8 that reflect the rise of India and
Asia."
The prime minister also backed India's bid for a permanent place on the United Nations security council. The number of members holding a veto at the UN's highest body has remained unchanged since its founding after the second world war.
Mr Brown also called for Brazil, Japan, Germany and a nation from
Africa to be given permanent spots on the security council. Previously countries other than the US, UK, France, Russia and China could only be eligible for temporary membership of the council which came without the ability to veto resolutions unilaterally.
The prime minister said he was also in favour of reforming the World Bank and International Monetary Fund in order to "reflect the rise" of India and Asia.
He recommended that the World Bank establish a fund to tackle climate change and that the IMF's role be changed so that it works to prevent economic crises.
"The IMF should be at the heart of an early-warning system for financial turbulence affecting the global economy," Mr Brown said.
During his trips to China and India, the prime minister announced a target to increase trade with China by 50 per cent by 2010 and also announced an aid package of £825 million for India over the next three years.