UNITED NATIONS, April 20 (Xinhua) -- UN Secretary-General Antonio Guterres on Monday called on governments to stop the madness of unchecked military spending.

Guterres made the appeal at the opening of the UN Economic and Social Council's 2026 Forum on Financing for Development Follow-Up.

"I also call on all governments to reverse the upward spiral of unchecked military spending. It's time to stop this madness. It is time to come together to end the wars that are pushing development out of reach," said Guterres.

The UN chief also said borrowing must work for, not against, developing countries, stressing that when channeled toward investment, debt is an important ally of development.

Guterres also called for the reform of the international financial architecture.

"The world has changed dramatically since these institutions were created. Developing countries account for an ever-larger share of global output and trade. South-South cooperation is expanding. A more multipolar global economy is taking shape. But our institutions and financing arrangements still largely reflect the economic and power structures of the past," he said.

"As a matter of justice and common sense, we must ensure developing countries have the strongest possible participation across global financial institutions corresponding to the realities of today's global economy. Global economic governance must become more inclusive, representative, equitable and effective," he said.

Financing for development is about more than economic progress. It is about human progress and about restoring trust in multilateralism, said the UN chief. ■