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Commonwealth: reform global institutions

LONDON: In a major initiative to force leading western powers to recognise the urgency of reforming global institutions such as the U.N., I.M.F. and World Bank, 12 Commonwealth Heads of Governments will meet here next month to discuss the way forward.

Commonwealth Secretary-General Kamalesh Sharma described it as a “rare and hugely significant gathering of Commonwealth leaders.” In a statement, Mr. Sharma expressed disappointment that some leading institutions were still stuck in a time-warp and did not reflect the interests of large swathes of the international community, especially the developing countries. The meeting, a follow-up of the decision taken at the Commonwealth Heads of Government Meeting (CHOGM) in Kampala in November 2007, will discuss “practical” steps to push the campaign for urgent reform of international financial institutions and the U.N.

It was decided at CHOGM to set up a small representative group of member-nations to undertake “lobbying” on the issue as leaders felt that the current “architecture” of international institutions did not reflect the “challenges” of the 21st century.

“This undermines the legitimacy and credibility of the international system,” said the CHOGM communiqué.

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