Pope Francis on Friday urged before the United Nations reform of the global economic system, which he denounced as "oppressive."

The Argentine-born pope said that institutions including the UN Security Council and financial lenders needed to "limit every kind of abuse and usury."

"The international financial agencies should care for the sustainable development of countries and should ensure that they are not subjected to oppressive lending systems which, far from promoting progress, subject people to mechanisms which generate greater poverty, exclusion and dependence," Francis said.