United Nations Secretary-General António Guterres on Monday called for global participation and support to renew the international financial architecture, which he said was created for a world that "no longer exists".

Guterres made the remarks at the opening of the Financing for Development Forum, which will be held at the United Nations Headquarters in New York from April 17 to 20.

He warned that due to a crisis with multiple dimensions, the 2030 Agenda and the Sustainable Development Goals are turning into a "mirage of what could have been", as societies and governments struggle to meet urgent needs.

He said that inequality within some countries was declining towards levels of the early twentieth century, a time before women were allowed to vote and before the concept of social protection was widely accepted.

According to Guterres, the United Nations proposed a SDG stimulus plan to expand affordable long-term financing to all countries in need, with the aim of boosting investments that will help achieve the SDGs, reduce the debt burden of developing countries and improve access to financing.

"In the long term, we are not going to solve today's challenges by relying on the financial system that made them happen," he noted.

Guterres said the international financial architecture was created for a world that no longer exists, adding that it "cannot meet the challenges that developing countries face today" and "has failed countries at a time when they need it most."

He said it is now widely recognized that the world needs a coherent and coordinated economic system that reflects today's global economic realities, one that supports stable economic conditions and helps countries invest in the sustainable development goals.

"We need participation and support from all over the world to renew the international financial architecture and make it able to meet the challenges of today and tomorrow," Guterres said.