News

UN Secretary-General Calls for Urgent Multilateral Action

13 October 2008: UN Secretary-General Ban Ki-moon has called

for “deep and systemic” reforms based on inclusive multilateralism for a global

financial system that can better meet the challenges of the 21st century.

He

welcomed the initiatives by the World Bank and the International Monetary Fund

to provide new emergency liquidity provisioning to poor countries, but stressed

that “more needs to be done.” He highlighted the need for the UN to consider

“urgent multilateral action to alleviate the impact of recent events on the

development agenda of the Organization,” from the implementation of the

Millennium Development Goals to the food and energy crises, as well as the

challenge of climate change.

He stated that the Financing for Development

Conference next month in Doha provides an important opportunity to review

developments and to ensure that the current financial crisis does not undermine

existing commitments to achieve internationally agreed development goals. [The Statement]