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Developing countries suffering "collateral damage"

572 views · Published 22 June 2009 · 3:31 · Indexed 20 September 2026

Channel: United Nations · 2009 · News & Politics

United Nations, New York, 22 June 2009 - The United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development to be held in New York from 24 June to 26 June will be critical for developing countries.

According to the Executive-Director of the South Centre and Ambassador Lumumba Di-Aping, Chair of the Group of 77 and China, the current Global Financial Crisis (GFC) has hit developing countries the hardest. He says they are also likely to suffer for longer after the crisis recedes.

Mr Di-Aping says developing countries are suffering from "collateral damage" and that now is the best time to talk about reform of the international economic system, and what assistance developing countries need in order to mitigate the affects of the crisis that is now going from bad to worse in some parts of the world.

The United Nations is convening a three-day summit of world leaders from 24 to 26 June 2009 at its New York Headquarters to assess the worst global economic downturn since the Great Depression. The aim is to identify emergency and long-term responses to mitigate the impact of the crisis, especially on vulnerable populations, and initiate a needed dialogue on the transformation of the international financial architecture, taking into account the needs and concerns of all Member States.

The United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development Web site:
http://www.un.org/ga/econcrisissummit/

View the entire press conference (Real Media, 57 minutes):
http://webcast.un.org/ramgen/ondemand/pressconference/2009/pc090622am.rm

Developing countries suffering "collateral damage"

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