DUSHANBE, April 10, 2009, Asia-Plus — The United Nations will convene a global summit in June to assess the impact of the world economic crisis on development, UN’ News Center reported on April 7.
“In the midst of the most serious economic downturn since the Great Depression, we now have the opportunity and the responsibility to search for solutions that take into account the interests of all nations, the rich and the poor, the large and the small,” Assembly President Miguel D’Escoto stated after the 192-member body adopted a resolution on the June 1-3 summit. He stressed that, in this effort, it is vital to draw on “technical expertise and practical wisdom” from all over the world, and from countries at every stage of development, as well as from international organizations, academia, private sector organizations, and civil society.
In addition to the impact of the crisis on development, the conference will also focus on ongoing discussions on reforming and strengthening the international financial and economic system and architecture.
A Commission of Experts appointed by Mr. D’Escoto and chaired by Nobel Laureate Joseph Stiglitz has stated that international finance structures must be drastically overhauled in the face of the current global economic crisis.
The panel, as well as the meeting later this month of the Economic and Social Council with the World Bank, International Monetary Fund (IMF) and World Trade Organization (WTO) are expected to contribute to the preparations for the June summit.
