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

  • Greg Hyde
    We have moved heaven and earth to try to shift the economic stats of this area, but many people are still struggling,” said Richard Crook, the head of regener...
  • Lyell Yardarms
    The short Newsnight film where Nick Clegg visited Blaenau Gwent in late 2016 was very instructive. Millions and millions of pounds of Objective 1 funding has be...
  • Mick Scholes
    "It is rather similar to World War 2, when neither we nor Nazi Germany used poison gas, because both parties were aware of what it had done in WW1 and both part...
  • Dominic
    I agree with Amin (again!). If anything, having the capability to counter an enemy’s (hypothetical) use of tactical nukes reduces the risk that the enemy woul...
  • Dominic
    Not for the first time, I completely agree with Amin. The choice to end your life should be entirely your own and not impeded because someone else doesn’t lik...