New Delhi, July 4 -- Finance minister Nirmala Sitharaman on Friday flagged persistent asymmetry in global financial flows as a major impediment to sustainable development in the Global South, warning that it continues to stifle long-term investments in clean energy, urban mobility, and climate-resilient infrastructure.

Speaking at the New Development Bank's (NDB) Governors Seminar in Rio de Janeiro, Brazil, Sitharaman urged a fundamental rethink of the global financial architecture to better align with the development priorities of emerging and low-income economies.

"The asymmetry in global financial flows deters long-term investment and delays critical progress, especially in renewable energy, urban mobility and climate resilient infra...