Ban urges swift action to prevent financial crisis from spinning into ‘human’ one

  • 12/15/2022
  • 18:06
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New York 2 He said that in his discussion with UN Member States, he has gleaned four key messages. First, Ban said there is a need for a “truly global” stimulus package underpinned by “green” growth. He emphasized the need to ensure access to liquidity for poorer nations and to curb protectionism. The Secretary-General also said that part of the stimulus package must come from aid commitments, and welcomed the latest International Monetary Fund (IMF) and World Bank initiatives. Lastly, he said that “inclusivity must be our watch-word on financial reform,” backed by a new multilateralism that is “fair, flexible and responsive.” “History will judge us sharply if we fail to live up to” the Millennium Development Goals (MDGs), eight anti-poverty goals with a 2015 deadline, Ban cautioned. He appealed for countries to “do what needs to be done” at the upcoming conference in Doha, Qatar, to review the implementation of the 2002 landmark anti-poverty agreement known as the Monterrey Consensus, as well as the next round of UN climate change negotiations in Poznan, Poland. “These great challenges are interrelated – the global economy, climate change and development,”Ban said. “We need solutions to each that are solutions to all.” In a letter earlier this week to the leaders attending the gathering, he wrote that institutional reforms cannot be restricted to financial sector regulation, but must deal with the broader challenges for human security, including climate change, conflict prevention and the eradication of poverty. “It is essential that the G-20 meeting signals an unmistakable common resolve to overcome the crisis, to act together, to act with urgency and to show solidarity towards the neediest, " the Secretary-General wrote.--SPA www.spa.gov.sa/608043

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