Major surgery, not cosmetic facelift, must be at center of UN Conference on economic crisis.
Published on IFIwatchnet, by , June 23, 2009.
New York, June 23, 2009 – In the midst of the global economic crisis, ongoing negotiations at the UN over the Outcome Document for the conference on the Financial and Economic Crisis, June 24-26th, 2009 are betraying age-old power fault lines. Rich, industrialized countries are attempting to underplay the legitimate role of the United Nations in the ongoing process of global economic system reform.
According to the Global Social Economy Group (GSEG) industrialized country governments are fudging the hard issues at the UN and instead utilizing forums such as the G8 and the G20 to make decisions affecting millions of people, rendering those worst affected by the crisis voiceless.
The GSEG, which is hosting the Civil Society Forum, a major gathering of civil society organizations wants to see major reform of the World Bank and IMF. They insist that strong commitments on debt reform and additional resources for the immediate and long-term financing needs of developing countries take center stage in the upcoming conference discussions … (full text).