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 AvatarDavid Raw 30th May - 9:13pm
    @ Richard Underhill 1. Mr Cook 2. If you're patient it will be the mighty Yorkie Joe Root.
  • User AvatarRichard Underhill 30th May - 8:43pm
    On the stalls on two Saturdays a guy who works in the City was trying to understand our point of view. He will obviously vote...
  • User AvatarJ Dunn 30th May - 8:35pm
    It's impossible to be,... a refugee in Calais,... unless you can explain why they are seeking refuge from France.? The most humane and sensible thing...
  • User AvatarRichard Underhill 30th May - 8:35pm
    1) Who is the first Englishman to score 10,000 runs in test matches? 2) Who is the youngest man to score 10,000 runs in test...
  • User AvatarStevan Rose 30th May - 8:31pm
    "they are coming out with so much rubbish they are actually driving people into the “leave” camp" My postal vote has arrived. I think I'll...
  • User AvatarHywel 30th May - 7:38pm
    Caron - "if you had told me 6 months ago that we’d still have five MSPs and that we’d gain two constituency seats from the...