Britain Proposes Reform of Global Financial System for Developing Countries
14.10.2026, 15:06·
COLLECTED AND VERIFIED AUTOMATICALLY
British Foreign Secretary Ed Miliband delivered a keynote speech at a Rockefeller Foundation event in Bangkok dedicated to reforming the global financial system. In his address, he presented a series of initiatives aimed at making the international financial architecture more equitable and working in the interests of all countries, including the least developed.
Among the key themes of his speech was the issue of public debt in developing countries, which, in the view of the British diplomat, requires coordinated international action to ease the debt burden. Miliband also addressed the question of attracting private investment as a mechanism to stimulate economic growth in low- and middle-income countries, emphasizing the need to create conditions attractive to private capital.
Separate attention in the speech was devoted to supporting fragile and unstable states facing conflicts, political instability, or institutional weakness. The minister noted the importance of strengthening the resilience of such countries to external shocks—whether climate disasters, economic crises, or geopolitical tensions.
The speech took place against a backdrop of growing international concern about the ability of the global financial system to adequately respond to the challenges facing developing economies. Miliband called on partners around the world to cooperate more closely in building a more inclusive and sustainable financial architecture capable of taking into account the interests of the world's most vulnerable countries.
This article was generated and published automatically from verified sources. If you spot an inaccuracy, it will be corrected on the pipeline's next pass.
