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“The omission of the Security Council threatens international peace,” says Lula at the G20

Global governance reform is among the three pillars established by Brasil's G20 presidency; world leaders discussed the topic on the afternoon of the first day of the Summit, and it may be one of the suggestions in the outcome document.

Citizen perspectives: global governance reform is a condition for eliminating inequalities

Scholars and civil society advocate an urgent restructuring of global governance organizations and the Bretton Woods institutions to address contemporary challenges and increase global representation. Inequalities in the Global South are also a result of the unequal distribution of power in these forums.

"Merely lending money is not sufficient. It is imperative to assess the impact of projects on people’s lives," emphasizes the President of the Inter-American Development Bank (IDB)

In an exclusive interview with the G20 Brasil website, Ilan Goldfajn, the President of the Inter-American Development Bank (IDB), elucidated the specific measures undertaken by the institution to execute the reform of governance within development banks, a priority of the Brazilian presidency in the G20. Goldfajn emphasized the crucial task of accurately assessing the tangible impacts of loans on individuals' lives, and stressed the imperative of addressing climate change. He further articulated that "the mandate we aim to pursue within the IDB and the MDBs¹, in alignment with Brasil's presidency of the G20, is one characterized by consensus-building, bridging divides, and seeking common ground to facilitate progress."