Ban Ki-moon, the United Nations (UN) Secretary-General before attending the Group of 20 (G20) summit this weekend in Washington, said on Tuesday that rich nations should do everything to alleviate the poor nations from the present financial crisis, and the meet needs to ensure that the interest of poor nations should not be hurt.
He was speaking to media at the UN headquarters in New York. This is for the first time UN Secretary General has been invited in G20 summit that has been convened to discuss the global financial crisis and exploring its solutions.
“We must do everything we can do to alleviate the impact of the crisis on the world's poorest and most vulnerable people. This is clearly a question of will,” said Moon to media.
“I would welcome any measure and initiative to address the global financial crisis, including the reinvention and reform of the basic structure of financial institutions. But I am more interested, and my focus, will be more on how to insulate the interest and well-being of developing countries from the financial crisis impact,” he further said, adding that there was a need to focus more on the needs of the vulnerable countries as well as UN development goals, including the climate change, food crisis and financing for development.
“That is more important at this time,” emphasised Ban who is in favour of addressing the systematic roots of the crisis rather than endeavouring to find a stopgap arrangement.
Interacting to media, Ban indicated to raise three points in G20 summits: first, the G20 should do all it can to help alleviate the impact of the financial crisis on the world's poorest and most vulnerable people; second, we need to address the systemic roots of the crisis; and third, the crisis is also an opportunity to address climate change. At a time of growing economic hardship, green growth can create millions of jobs.
The global economic crisis and deepening financial crunch in United States (US) and European Union (EU) has hurt the whole world economy, leaving thousands jobless, companies bankrupt and markets sunk to a record low.
Regarding financial aid to the poor nations, Ban said “I will be carrying the same messages to the Financing for Development conference that opens later this month in Doha. People around the world will be looking for a signal that aid will flow and opportunities will grow.”
Rich nations donate annually USD50-billion to the poor countries but quoting it inadequate amount, UN Secretary General has asked to triple this amount to meet urgent needs caused by high food and energy prices.
The UN has called for eradicating poverty and hunger by 2015, but the worsening financial crisis may hurt the target of this world’s biggest league.
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