Tag Archives: kofi annan

Opinion: Development in a downturn

Writing in the Guardian, former UN Secretary-General Kofi Annan has added his support to the growing chorus of voices demanding that the needs of the world’s poorest to be placed at the heart of international efforts to stabilise and boost the global economy. With unemployment and financial hardship at home making the headlines, we cannot and must not overlook the potentially enormous problems facing the developing world as a consequence of a situation for which they are entirely blameless.

Last week the G20 finance ministers met in Sussex to set the agenda for the forthcoming London Summit. Although it was encouraging to note that the communiqué that emerged from this meeting clearly indicated recognition of the need to support the developing world at this time of crisis, the extent to which these sentiments will be carried forward to the leader’s summit and reflected in significant new financial or institutional commitments remains unclear.

The G20 summit cannot achieve its aims without putting into place a comprehensive framework of support for vulnerable nations. Declining levels of Foreign Direct Investment, shrinking remittance flows and low commodity prices will all have a disproportionate impact on the lives of people within the developing world, with the World Bank estimating that the economic slowdown could keep an additional 53 million people in poverty in 2009. The complex and urgent nature of the task at hand should be reflected in the solutions offered by the G20; short term entitlement protection must be accompanied by more substantive reforms if the London summit is to successfully set the scene for an economic recovery and longer-term stability.

Posted in Europe / International and Op-eds | Also tagged , , and | Leave a comment
Advert



Recent Comments

  • User AvatarMartin Veart 4th Mar - 1:47am
    In the last Scottish elections I came to one door and a man in his sixties opened it. "Politicians? I would put them all against...
  • User AvatarConor McGovern 4th Mar - 1:07am
    Less emphasis on sticking to the party line would be welcome too, seeing as our parliamentary party are meant to be liberals... :D
  • User AvatarConor McGovern 4th Mar - 1:06am
    Why don't they just give MPs more time to get to the voting lobbies?
  • User AvatarConor McGovern 4th Mar - 12:38am
    Hoping to canvass or do something for the first time this May, fingers crossed I get a doorstop conversation half as good as some of...
  • User AvatarTim Leunig 4th Mar - 12:24am
    Cllr Dermot Roaf was Maths tutor at Exeter College Oxford, and canvassed the economics tutor from the same college, who lived in a college flat....
  • User AvatarHywel 4th Mar - 12:00am
    To what extent is there a recruitment strategy based around public talks etc which stay (just about) on the right side of the law but...