The United Nations will convene a three-day high-level meeting starting June 1, to determine the effect of global economic downturn on development and the steps needed to ensure protection of the poorest of the poor, reports say.
In the midst of the most serious economic downturn since the Great Depression, we now have the opportunity and the responsibility to search for solutions that take into account the interests of all nations, the rich and the poor, the large and the small, United Nations General Assembly President Miguel D'Escoto said after the 192-member body adopted a resolution to hold the meet.
He said by agreeing to hold this conference, member-states are recognizing the vital importance of assuring that all nations have an opportunity to participate equally and fully in the common search for solutions that meet the concerns and needs of all countries, large and small.
The UNGA president stressed that, in this effort, it is vital to draw on technical expertise and practical wisdom from all over the world, and from countries at every stage of development, as well as from international organizations, academia, private sector organizations, and civil society.
The conference will focus on issues like trade, investment, development as well as the reform and strengthening of the world's financial and economic system and architecture.
The meet is expected to adopt a document containing recommendations, which could include restructuring of the international financial institutions to give more voice to the poor nations.
Participants at a financing for development meeting held in Qatar in late 2008 called for the conference titled World Financial and Economic Crisis and its Impact on Development.
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