HAMILTON, Canada

UN Secretary-General Antonio Guterres on Thursday called for urgent reforms to global institutions, including the UN Security Council and international financial systems, to address contemporary challenges.

His remarks come just over a week before the UN's landmark Summit of the Future, a key event aimed at strengthening multilateralism.

In a video statement, Guterres criticized existing global frameworks for being outdated and ineffective, particularly highlighting the Security Council's inability to reflect current geopolitical realities.

"The Security Council is stuck in a time warp; the international financial architecture is outdated and ineffective; and we are simply not equipped to take on a wide range of emerging issues," he said.

The upcoming summit, scheduled to coincide with the 79th UN General Assembly, offers a chance to modernize global governance structures, Guterres said.

"It is an important step in the journey to build stronger and more effective multilateralism," he noted, adding that the summit could update institutions to better address today's political and economic realities.

"We need reforms to the global financial architecture that make it correspond to today's global

economy and fit to address today's challenges," he said.

He also emphasized the need for increased global solidarity and collaboration to manage critical issues like climate change, conflict, and economic inequality.

Guterres further appealed to participants of the summit to "make the most of this critical milestone on the road to a more networked, effective and inclusive multilateralism for the 21st century," underscoring the summit's potential to foster a "safer, more sustainable and more equitable world."

The 79th UN General Assembly, which annually brings world leaders together in New York, will officially open on Sept. 22 with the "Summit of the Future."

The high-level week of the UN General Assembly will begin on Sept. 24, with participation from 190 countries expected. World leaders will deliver speeches addressing global priorities, further setting the stage for discussions on reforms.