‘Emerging South must take its place in international community decision-making’March 18th, 2008 - 9:24 pm ICT by admin
Mumbai, 18 Mar (ANI): Calling for reforms in the governance of global financial institutions, UNDP Chief Kemal Dervis today urged the “emerging South” to take its natural place in the decision making of the international community.
He urged India to add its “considerable” weight to a reform and strengthening of the United Nations and Bretton Woods institutions. Renewed legitimacy of the international system and institutions depends on the “emerging South” having its rightful voice and role in decision-making.
Dervis, who is United Nations Under Secretary General and the Administrator of the United Nations Development Programme, was delivering the 23rd EXIM Bank Commencement Day Annual lecture in Mumbai.
Dervis talked about the interactions between the current financial sector problems and the prospects of the world economy.
“There is hope” he said, “that dynamic growth in Asia will protect the world from a major slowdown — much will depend, however, on the monetary and fiscal policies of governments worldwide.”
Dervis, who heads the UN’s largest development network, said that while it is true that some developing countries are profiting from globalization and catching up with the richest countries this is not happening across the board - many countries and hundreds of millions are still being left behind in relative terms.
Thanks mainly to the huge populations of India and China and the strong economic performance of these two giants there is at last a “catch up” trend of per capita incomes in the emerging South, he said.
“Our mission in the United Nations Development System is to help accelerate that catch up and work towards its extension to those parts of the world that have continued to diverge” he added.
Arvind Virmani, Chief Economic Adviser, Government of India presided over the lecture, which was attended by over 300 bankers, corporate leaders, academics, the media and representatives of the non-governmental sector. (ANI)
- BRICS Summit - Facts at a glance - Mar 28, 2012
- BRICS voices concern over slow pace of IMF reforms - Mar 29, 2012
- Manmohan cautions against building walls of protectionism - Sep 24, 2011
- BRICS source of stability in time of recession: PM - Dec 15, 2011
- Manmohan Singh to discuss Arab and North Africa unrest at BRICS summit - Apr 11, 2011
- Global financial institutions need changes: PM - May 25, 2011
- Manmohan Singh seeks UN reforms - Sep 24, 2011
- India, UNDP to sign framework pact - Mar 13, 2012
- 3 summits in a month: Manmohan set for intense global diplomacy - Oct 31, 2011
- India, other emerging economies to make for half of global growth - May 17, 2011
- External Affairs Minister Krishna's speech to UN General Assembly: Full text (Lead) - Sep 30, 2010
- BRICS to set up joint bank, backs dialogue on Iran, Syria (Roundup) - Mar 29, 2012
- External Affairs Minister S.M. Krishna's speech to UN General Assembly: Full text - Sep 29, 2010
- BRICS to set up joint bank, for dialogue on Iran, Syria (Lead) - Mar 29, 2012
- G-20 Summit Declaration - Jun 20, 2012
Tags: arvind, bretton woods institutions, commencement day, corporate leaders, dynamic growth, economic adviser, economic performance, exim bank, financial sector, fiscal policies, global financial institutions, government of india, relative terms, richest countries, sector problems, united nations development, united nations development programme, virmcommunity decision, world economy