United Nations Chief urges G-20 leaders to make equitable financial reforms

The United Nations chief has urged G-20 leaders to take action on equitable and stable reforms to strengthen the global financial safety net and increase the global economy's resilience.

UN Secretary-General Antonio Guterres said in a letter to leaders gathered in Osaka, Japan, for the two-day summit beginning on Friday that while the world has made progress fixing some big problems it's not happening fast enough or shared by all countries.

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UN Secretary-General Antonio Guterres said that while there are good plans and vision, what's needed are "accelerated actions, not more deliberations." He says that fast and equal economic growth should be constructed so that people who live in "the 'rust belts' of the world are not left behind.

On Thursday morning, Prime Minister Modi arrived in Japan for the  G20 Summit during which he will attend important plurilateral meetings and meet with the world leaders. 

The theme of this year's G20 Summit hosted by Japan is 'Human-centered future society'

This will be Prime Minister Modi's sixth G20 Summit which is being held at Osaka on June 28-29.

There will be four sessions as a part of the summit namely global economy, trade and investment, innovation in the digital economy and artificial intelligence. Other topics will include free trade and economic growth, including taxation, finance, inclusive and sustainable world, energy and environment, society quality infrastructure, global health, aging, climate change, and marine plastic waste.

Formally known as "Summit on Financial Markets and the World Economy", G-20 summit began in 1999.

Besides India, other participants are European Union, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Republic of South Africa, Russia, Saudi Arabia, Turkey, United Kingdom and United States of America.

During the 2018 G20 Summit, PM Modi had announced that India will play host to the Summit in 2022 when the country will celebrate 75th anniversary of independence.

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(With AP inputs)