27 june 2009, United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development
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Sister Germaine Price, representing the Company of the Daughters of Charity at the United Nations, shares the news below from the UN:
As Daughters of Charity, we are very aware of the effects of the global economic crisis wherever we live; we know that the impact on people living in poverty in developing countries has been especially devastating.
Since the Financing for Development meeting in Doha, Qatar in December, 2008, multiple meetings and conferences have been held both in New York and in Geneva, by various groups to address this crisis. Both the World Bank (WB) and the International Monetary Fund (IMF) as well as governments representatives have highlighted the necessity and urgency of a coordinated global response to this global crisis.
Developing countries are insisting that their voices be heard and that changes in the way things are being done at present are imperative. Leaders from developing countries are voicing their distress on being the hardest hit by a crisis even though they have had very little to do with creating it. It is estimated that as many as 90 million more people will live in poverty as a result of the crisis and that as many as 200-400 thousand children will die.
The UN Conference to be held on June 24-26, 2009 (postponed from June 1-3) was mandated at the meeting in Doha in December, 2008. Governments agreed to hold the Conference at the “highest level”, (i.e. Heads of State) organized into a series of plenary meetings as well as four thematic round-tables involving participation of other stakeholders, including civil society. It will result in an intergovernmentally agreed outcome document.
In preparation for this summit, a Commission of Experts appointed by the President of the General Assembly of the UN, Miguel d’Escoto, and chaired by Noble Laureate Joseph Stiglitz is providing recommendations on international financial structures and practices as part of broad-based inputs into the preparations for the Conference.
A draft outcome document, based on the various inputs, has been prepared and circulated to all the Member States. Intergovernmental negotiations concerning the text of the document began upon receipt of the draft and will likely continue until the time of the Conference.
Civil Society has been very active during this period as well. There has been opportunity for input for the final document from NGOs and several civil society Forums are being held in advance of the High Level Meeting.
For this timely and historic Summit to be effective it is essential that Heads of State attend this meeting. We encourage everyone to urge your Government leaders to participate in this meeting so that the voices of all people can be heard and that all governments participate in the decision-making process.
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