SECRETARY-GENERAL, IN STATEMENT FOLLOWING SUMMIT ON WORLD ECONOMY, URGES

 

‘GREEN’ ECONOMIC DEVELOPMENT AS PART OF FISCAL STIMULUS PACKAGE

The following statement was issued on Saturday, 15 November, by the Spokesperson for UN Secretary-General Ban Ki-moon:

The Secretary-General welcomes the Declaration of the Summit on Financial Markets and the World Economy, held in Washington, D.C., today, which committed leaders to joint action.  He noted the agreement on the international coordination of stimulus packages, a move he had advocated in his remarks at the White House, also new market regulation to avoid future crises, more inclusive new economic governance and the need to avoid trade and investment protectionism.

In particular, the Secretary-General appreciates the Final Declaration’s commitment to:

-- continued partnership, cooperation and multilateralism;

-- the importance of the Millennium Development Goals and the development assistance commitments previously made, particularly in view of the impact of the current crisis on developing countries, particularly the most vulnerable;

-- the development principles agreed at the 2002 United Nations Conference on Financing for Development in Monterrey, which emphasized country ownership and mobilizing all sources of financing for development;

-- addressing other critical challenges, such as energy security and climate change, food security, the rule of law and the fight against terrorism, poverty and disease.

In his own remarks, the Secretary-General had emphasized the importance of inclusive multilateralism to ensure all other countries not represented at the Summit participate in shaping future international economic governance.  He stressed the need for international coordination of stimulus packages and the importance of meeting aid commitments to avoid global economic slowdown, adversely affecting global security, stability and the well-being of poor countries and poor people.

Turning to another key issue, the Secretary-General cited the opportunity to promote green economic development as part of the fiscal stimulus, for example with support for renewable energy, conversion to more carbon-friendly systems and investing in climate change adaptation measures in the most vulnerable developing economies.  Finally, he stressed the importance of strong participation at the Doha Review Conference on Financing for Development in late November that will further discuss all the issues relating to development.

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For information media • not an official record