GENERAL ASSEMBLY PRESIDENT ANNOUNCES UNITED NATIONS WILL HOLD JUNE CONFERENCE

TO ASSESS GLOBAL FINANCIAL, ECONOMIC CRISIS

 

NEW YORK, 7 April (Office of the General Assembly President)-- A global conference “at the highest level” will assess the crisis that has devastated the world economy, from 1 to 3 June this year, General Assembly President Miguel d’Escoto Brockmann announced today.

After the General Assembly adopted the resolution by consensus today on modalities for the summit-level June conference, President d’Escoto said: “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.  This is the mission of the G-192 [all United Nations Member States] amongst the international processes searching for solutions.”

President d’Escoto has visited and plans to visit a number of countries to build support for participation at the Head of State level.  The “Group of 77” developing countries and China have already pledged full participation.

The United Nations conference on the world financial and economic crisis and its impact on development was mandated in December by world leaders at the Financing for Development Review, in Doha, Qatar.  The conference will address the impact of the crisis on development, as well as the ongoing international discussion on reforming and strengthening the international financial and economic system and architecture.

President d’Escoto expects to circulate a draft outcome text for negotiation early in May.

A commission of experts appointed by President d’Escoto and chaired by Nobel Laureate Joseph Stiglitz is providing recommendations on international financial structures and practices as part of broad-based inputs into the preparations for the conference.

The next major venue for discussion at the United Nations of the economic crisis and financial system reform and the implication for living standards worldwide, comes on 27 April, when the Economic and Social Council hosts executive board members from the Bretton Woods institutions (the International Monetary Fund and the World Bank) together with the Director General of the World Trade Organisation and the Secretary General of the United Nations Conference on Trade and Development (UNCTAD).  The Economic and Social Council meeting is expected to provide inputs into the preparatory process for the June meeting.

For more information, contact, in the Office of the President of the General Assembly, Enrique Yeves, Spokesperson, at +1 212 963 1256; or Paul Hoeffel, Communications Adviser, at +1 646 623 4517.

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For information media • not an official record