25 Feb '11, 7am

Global institutions need reforms to reflect present reality

Global institutions need reforms to reflect present reality

PARIS: Former Brazilian Foreign Minister Celso Amorim said global institutions need to be reformed in order to better reflect today's realities. With the revolutions currently taking place in the Arab world, the former diplomat is hoping change will take place in international institutions as well. For a start, Mr Amorim has called for a G20 type body that deals with political issues. The group of 20 nations managed to reach a compromise deal over the weekend on a set of economic indicators to prevent future financial crises. The group was created as a response to the financial crises of the late 1990s. It was also formed to include emerging economies that were not previously involved in global economic discussion and governance. Mr Amorim felt it is time to expand the G20's scope. "I think the most immediate thing that could be done would be to have a political G20. That ...

Full article: http://www.channelnewsasia.com/stories/afp_world/view/111...

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