GCRG

United Nations, July 13, UN Secretary-General Antonio Guterres has denounced the international financial system as a relic of the colonial past and said that the G20 Summit in India offers an opportunity to start moving on reforming it. The debt crisis faced by 40 per cent of the developing countries is because of the “inequality built into our outdated global financial system, which reflects the colonial power dynamics of the era when it was created," Guterres said here on Wednesday. He referred to the recent international initiatives on dealing with the crisis and said, “The upcoming G20 Summit is an…