India Shames China For 'Vicious Cycle Of Debt Traps' At A UN Meet Chaired By Beijing

In a recent UN Security Council debate, India issued a veiled warning against unsustainable financing practices, hinting at concerns over debt traps often associated with certain countries, taking a swipe at China's practices.

As reported by NDTV, R Madhu Sudan, representing India at the meeting chaired by China, highlighted the need to tackle resource shortages for sustainable peace and development.

India's efforts, including those during its G20 presidency, were mentioned, emphasising reforms in international financial institutions.

The focus was on addressing challenges faced by developing nations, with concerns raised about issues like vaccine distribution during the Covid-19 pandemic and rising inflation affecting the global south.

The diplomat reiterated India's call for a reformed multilateral approach, advocating for a United Nations that aligns with the current era's aspirations.

India emphasised the three pillars of the UN system — peace and security, development, and human rights.

While recognising the multi-dimensional nature of security, the diplomat suggested a nuanced approach, stating that Security Council involvement in every aspect might not be advisable.

Commitment to the sustainable development goals was reaffirmed, emphasising the urgency to accelerate progress by 2030.