'UN summit must meet 5 conditions to help poor'
11/01/2008 | 06:05 AM
MANILA, Philippines - A debt watchdog has welcomed a proposed United Nations-backed global summit to reform the international financial system in the wake of the recent global economic meltdown.
But the Freedom from Debt Coalition (FDC) stressed that the summit must meet five conditions for it to be beneficial to the poor.
"(We) support the fundamental and far-reaching transformation of the international financial and economic system. To serve this purpose, we support a major international conference convened by the UN to review the international financial and monetary architecture, its institutions and its governance, but only if the meeting follows a process," they said in a statement posted on the FDC website.
The five conditions are:
* The summit is inclusive and participatory of all governments of the world;
* It includes representatives from civil society, citizen's groups, social movements and other stakeholders;
* It has a clear timeline and process for regional consultations, particularly with those most affected by the crisis;
* It is comprehensive in scope, tackling the full array of issues and institutions; and
* It is transparent, with proposals and draft outcome documents made publicly available and discussed well in advance of the meeting.
"Full use should be made of the new UN task force on the global financial system, the upcoming UN Financing for Development meeting and other UN instances to begin preparing such a global meeting," the FDC said.
"There are no quick fixes in the transition from the current system - which has fostered instability and inequity - towards a just, sustainable and accountable one, which yields benefits for the majority of the world's people," it added.
Several other groups supported the statement. These included the Africa Jubilee South, African Network on Debt and Development, Aktion Finanzplatz, Switzerland; Bank Information Centre, USA; Bretton Woods Project, UK; Campagna per le riforma della Banca Mondiale, Italy; Center of Concern, USA; Debt and Development Coalition Ireland; Dialogo 2000, Argentina; Erlassjahr, Germany;
European Network on Debt and Development; Eurostep; Freedom from Debt Coalition; Halifax Initiative Coalition, Canada; Indian Social Action Forum, India; INESC Instituto de Estudos Socioeconômicos (INESC), Brazil; Instituto del Tercer Mundo (ITeM), Uruguay; Jubilee Australia; Jubilee Debt Campaign UK; Jubilee South;
Jubilee South Americas; Jubilee South - Asia/Pacific Movement on Debt and Development; Jubilee USA; The North-South Institute, Canada; SLUG Norway; Social Watch; Social Development Network, Kenya; and Tax Justice Network. - GMANews.TV
But the Freedom from Debt Coalition (FDC) stressed that the summit must meet five conditions for it to be beneficial to the poor.
"(We) support the fundamental and far-reaching transformation of the international financial and economic system. To serve this purpose, we support a major international conference convened by the UN to review the international financial and monetary architecture, its institutions and its governance, but only if the meeting follows a process," they said in a statement posted on the FDC website.
The five conditions are:
* The summit is inclusive and participatory of all governments of the world;
* It includes representatives from civil society, citizen's groups, social movements and other stakeholders;
* It has a clear timeline and process for regional consultations, particularly with those most affected by the crisis;
* It is comprehensive in scope, tackling the full array of issues and institutions; and
* It is transparent, with proposals and draft outcome documents made publicly available and discussed well in advance of the meeting.
"Full use should be made of the new UN task force on the global financial system, the upcoming UN Financing for Development meeting and other UN instances to begin preparing such a global meeting," the FDC said.
"There are no quick fixes in the transition from the current system - which has fostered instability and inequity - towards a just, sustainable and accountable one, which yields benefits for the majority of the world's people," it added.
Several other groups supported the statement. These included the Africa Jubilee South, African Network on Debt and Development, Aktion Finanzplatz, Switzerland; Bank Information Centre, USA; Bretton Woods Project, UK; Campagna per le riforma della Banca Mondiale, Italy; Center of Concern, USA; Debt and Development Coalition Ireland; Dialogo 2000, Argentina; Erlassjahr, Germany;
European Network on Debt and Development; Eurostep; Freedom from Debt Coalition; Halifax Initiative Coalition, Canada; Indian Social Action Forum, India; INESC Instituto de Estudos Socioeconômicos (INESC), Brazil; Instituto del Tercer Mundo (ITeM), Uruguay; Jubilee Australia; Jubilee Debt Campaign UK; Jubilee South;
Jubilee South Americas; Jubilee South - Asia/Pacific Movement on Debt and Development; Jubilee USA; The North-South Institute, Canada; SLUG Norway; Social Watch; Social Development Network, Kenya; and Tax Justice Network. - GMANews.TV
