MIGIRO CALLS FOR 'COALITION OF CONSCIENCE' TO ACHIEVE GLOBAL DEVELOPMENT TARGETS

MIGIRO CALLS FOR 'COALITION OF CONSCIENCE' TO ACHIEVE GLOBAL DEVELOPMENT TARGETS
New York, Oct 8 2007 7:00PM
United Nations Deputy Secretary-General Asha-Rose Migiro today called for a "coalition of conscience," backed by firm action, to achieve global development targets focused on freeing humanity from poverty, hunger, disease and illiteracy.

"The good news is that we have all the resources in our command today to achieve this ambition in our own generation," she <"http://www.un.org/News/Press/docs//2007/dsgsm342.doc.htm">told the General Assembly committee dealing with economic and financial issues. "We just cannot afford to fail."

Global poverty is one of the "most pressing issues of our time," trapping millions of children, women and men, she stated, adding that nowhere is its grip tighter than in Africa, where millions of lives quite literally hang in the balance.

She said sharp social and economic disparities in the global economy make it even harder to achieve the set of internationally agreed anti-poverty objectives known as the Millennium Development Goals (MDGs) by the target date of 2015.

Particularly worrying is the risk global economic imbalances pose to a large number of developing countries, including African and least developed countries, as well as countries moving from conflict to reconstruction and development, she said, stressing that donors must do more to keep their promises on increasing development assistance flows and debt relief.

Foreign aid, while important, "is clearly not enough," she said, calling for open, fair, equitable and non-discriminatory trading and financial systems.

Also addressing the committee, the Under-Secretary-General for Economic and Social Affairs said that despite repeated calls, no serious action has been taken to address global imbalances.

Sha Zukang warned that "changes in market sentiments and investor confidence could trigger a hard landing of the dollar and a disorderly adjustment of the global imbalances, threatening prospects for the global economy and future growth."

He said the slowing of global growth puts all economies at risk, especially the developing countries, including the many which depend on the demand for their products in industrialized countries and on commodity price levels.

"Any marked decrease in developing countries' earnings would severely affect resources available for making the necessary investments to achieve the MDGs," he added.
2007-10-08 00:00:00.000

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