{
  "id": 7108548,
  "title": "Anwar: World needs fairer financing system to avoid unsustainable debt",
  "url": "https://urgent.news/2026/09/13/anwar-world-needs-fairer-financing-system-to-avoid-unsustainable-debt",
  "topic": "world",
  "section": "World",
  "published": "2026-09-13T13:19:09.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/news/nation/2026/09/1532041/anwar-world-needs-fairer-financing-system-avoid-unsustainable-debt"
  },
  "original_language": "en",
  "account": "Prime Minister Anwar Ibrahim has called for the international financing system to be overhauled in order to make it more equitable and prevent developing nations from falling into unsustainable debt. His call comes as the world grapples with rapid shifts in the economic and geopolitical climate, as well as advancements in technology. Many developing countries continue to face challenges in achieving economic growth, with numerous nations finding themselves burdened by debt, specifically spending more on servicing interest than on crucial services such as education and healthcare. In a Facebook post, Anwar emphasized the necessity for a fairer international financing system, stating that it should not force countries into unmanageable debt levels merely to meet the basic needs of their citizens. While addressing world leaders at the 18th BRICS Leaders Summit in New Delhi, India, Anwar, who serves as Finance Minister, highlighted the need to hasten initiatives through the New Development Bank (NDB), promote the use of local currencies in trade, and leverage the significant potential of the Islamic capital market. He also urged BRICS member states to take decisive actions to rectify unfair trade practices, exchange development experiences, and bolster cooperation in emerging sectors, including semiconductors and artificial intelligence (AI). Furthermore, Anwar stressed that the green transition must consider the unique circumstances and development stages of each country, as not all nations can advance at the same pace or follow the same path. He acknowledged BRICS' economic advantage due to its extensive market, which can facilitate trade diversification, diminish reliance on conventional Western markets, and foster shared prosperity. However, Anwar cautioned that progress in inclusive growth would be futile unless wars are halted, as they drive up energy costs and jeopardize global trade routes. He also pointed out that Israel's actions in the Middle East have compelled countries not directly engaged in the conflict to face repercussions through inflation and economic uncertainty. Malaysia's stance is clear: respect for sovereignty, protection of civilians, and the preservation of major global economic sea lanes must be upheld. Anwar reiterated that BRICS must assertively convey its position against Israel's unlawful occupation, colonization, and violence, emphasizing that every human life deserves protection, irrespective of their location. For Malaysia, strategic autonomy entails the liberty to chart its own course and the audacity to uphold its position even in the face of adversity. As a BRICS partner nation, Malaysia stands prepared to contribute to this endeavor.",
  "summary": "KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has called for the international financing system to be reformed to make it fairer and prevent developing countries from being trapped in unsustainable debt.",
  "key_points": [
    "World needs fairer financing system to avoid unsustainable debt",
    "Anwar Ibrahim calls for overhaul at BRICS Leaders Summit",
    "Malaysia urges BRICS to address unfair trade practices and cooperate in emerging sectors"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}