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Barbados PM Mottley Assails Global Finance System That Excludes Most

In an address to the UN General Assembly, Mottley called for changes to debt conventions and more climate change aid to developing nations.

Mia Mottley, Barbados’s prime minister, speaks during the United Nations General Assembly in New York on Sept. 22, 2022. 

Mia Mottley, Barbados’s prime minister, speaks during the United Nations General Assembly in New York on Sept. 22, 2022. 

Photographer: Jeenah Moon/Bloomberg

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.