Caracas, Sep 24 : Venezuelan Foreign Minister Yvan Gil called for an overhaul of the international financial architecture in an address to the UN 'Summit of the Future', local media reported.

The current architecture is designed "to perpetuate a model of domination and dependence," said Gil, stressing his country's demand for an end to unilateral coercive measures, or sanctions, as a way to enable global development, according to Xinhua news agency.

He deemed it "urgent to guarantee a balanced implementation of the three pillars of the United Nations (peace and security, human rights and development), as well as to ensure a peaceful, prosperous, just and equitable world order."

"In addition to living in peace, our people deserve to live better, in that sense we are convinced that the right to development must be the driving force and goal of our organisation," he added.

/IANS