In informal remarks to reporters at the United Nations on Jan. 12, Pakistan’s Ambassador to the UN Munir Akram emphasized the necessity of establishing alternatives to the current U.S.-dominated global financial system—a sentiment expressed by a growing number of developing sector nations.
Ambassador Akram was speaking just prior to the ceremony in which he handed over the chairmanship of the Group of 77 plus China to Cuba, represented by its Foreign Minister Bruno Rodriguez Parrilla. Founded by the Non-Aligned Movement some 60 years ago, the G77, with 134 members, is the largest group represented at the UN.
Asked about his remarks by a Newsweek reporter, Mr. Akram elaborated that “as far as global governance is concerned, the greatest structural issue is the control of the international financial system by the United States. Many other countries, including its allies and friends, are not happy with that,” he said.
