Addressing the G15 meeting, Ahmadinejad blamed capitalist powers for causing the economic crisis with 'deception, materialism and monopoly.'
Iranian president Mahmoud Ahmadinejad today made a veiled attack on the US and its allies for employing "reactionary policies" that has led to erosion in reliability of UN.
"Certain permanent members of the (United Nations) Security Council think that it is still 65 years ago and expect other governments and nations follow their lead," Iranian president Mahmoud Ahmadinejad said at the closing ceremony of the G15 summit.
He did not name any country but the attack is widely perceived to be directed against the US.
"The UN Security Council is still operating under the reactionary laws of post-World War II and has lost its efficiency and reliability," he added.
Ahmadinejad had last month made a scathing personal attack on US president Barack Obama calling him an iinexperienced amateur' who was quick to threaten to use nuclear weapons against US enemies.
"Obama made these latest remarks because he is inexperienced and an amateur politician," he had stated on Iranian television. "American politicians are like cowboys. Whenever they have legal shortcomings, their hands go to their guns."
Addressing the G15 meeting, Ahmadinejad blamed capitalist powers for causing the economic crisis with 'deception, materialism and monopoly.'
"Such policies have resulted in the downfall of the world economic order. As a result, billions of dollars in losses were imposed on the world economy.
Poverty and food crisis have spread in poor countries," he said.
"The developing countries have also shouldered massive cuts and losses. The world economy's reliance on the principles of liberal capitalism and these recent incidents show that this system of thought [capitalism] has lost in practice," he added.
Ahmadinejad said the world is in dire need of new ideology and path for progress and lasting peace.
"Today, the 14th G15 summit is held under condition when the world is in dire need of new ideology and method to tackle (global) problems and lead to progress, prosperity and lasting peace," he said.
The Iranian president said that G15, having extensive potential, can play a key and influential role in a new world filled with friendship, peace and justice.
He hoped that the Tehran meeting will serve as an important step to serve humanity, nations, independent states and durable peace and security.
"Due to its potentials, the G15 can play an important and effective role in building the world of friendship, peaceful and just," Ahmadinejad said while expressing hope that today's meeting would be an important step to implement those purposes.
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