The first UN Summit on a Sustainable, Inclusive and Resilient Global Economy was held in New York on September 24.The delegates will discuss how to address the challenges facing development financing, call for reform of the global financing framework, practice multilateralism and increase the right of speech of developing countries.

In his opening speech, UN Secretary-General Guterres said that the international financial architecture needs to be reformed to address the challenges facing the world today. He said that the share of wealthy countries in the global economy is slowly declining, the share of emerging economies is rising, and many countries are left behind. In addition, the shortage of public resources and unfair systems also make reforms inevitable.

Speaking at the summit, the 80th UN General Assembly President, Annalena Belburke, said that given the $4 trillion budget shortage per year in the Sustainable Development Goals, the United Nations is very clear on its recommendations for international financial reforms, including giving developing countries greater power of speech in international financial institutions.

Locke Tapa, chairman of the United Nations Economic and Social Council, said the summit was aimed at strengthening the systemic links between the United Nations and international financial institutions.Global trade friction is eroding people¡¯s confidence in the multilateral trading system, ¡°Our task is to rebuild trust ... which also means ensuring that reforms are inclusive, fair and legitimate.¡±

Kristalina Georgieva, President of the International Monetary Fund, believes that the global economic system is being restructured in a number of ways. By the spring of 2030, the global public debt ratio of GDP will be close to 100% and many countries will lose fiscal space, so structural reforms are needed to release more private sector investment power.

WTO Director-General Ivira said the global trade system needs profound reform, ¡°We should allocate scarce resources more efficiently.¡±

South African President Ramaphosa called for active coordination between the African Union, G20, international financial institutions and other global financial institutions, saying that global rules must be formulated by all member states, not a handful of member states, to truly implement the commitment of ¡°not leaving anyone behind, not leaving any country behind¡±.

Canadian Prime Minister Carney warned: "Multipolarization without multilateralism will bring chaos."

The representative of Iraq pointed out that today's global economic governance is still dominated by a few economies, and multilateral development should be implemented globally. The decision-making process should listen to the voices of developing countries and involve them, which is related to the legitimacy and effectiveness of meeting global challenges.

The summit was first proposed in Guterres¡¯ report ¡°Our Common Agenda¡± released in 2021.