Posted by: africanpressorganization | 29 November 2008

Rich should give rescue package to poor economies instead of skipping from Doha conference, says ActionAid

 


 

Rich should give rescue package to poor economies instead of skipping from
Doha conference, says ActionAid

DOHA, Qatar, November 29, 2008/African Press Organization (APO)/ — Top Leaders from major economies and institutions such as the World Bank and the International Monetary Fund (IMF) should announce rescue packages for the poor economies as their skipping from the Doha conference is not a solution to the current financial crisis, warns Actionaid.

The President of the UN General Assembly, Mr. Miguel d’Escoto Brockmann in his speech at the Opening Plenary said:

“Some important players did not attend because they honestly want the
world to continue as it is today. Others didn’t come because they have lost hope.”  He said the vast majority of the world’s countries are present here and want to see an inclusive process develop here. We need to send a clear message of hope, that their voices are being hard. “We need to do more than rearrange our faltering system, we must transform it. More than new regulations the world needs new alternatives,” he added.

Actionaid is of the view that by not participating in the follow up conference on Financing for development in Doha, the rich economies seem avoiding the delegates from the poor countries who came there to negotiate face to face the aid commitments given by them at the first meeting in Monterrey in 2002, in which more than 50 heads of states and 200 ministers turned up and President George Bush had pledged to scale up of aid. Now amid the current financial crisis, the rich countries and institutions seem backtracking on their commitments on aid the poor countries badly need.

Luca De Fraia a spokesperson for ActionAid said:

“We recognise the importance of the UN as the International institution to lead in reforming the global economic and financial architecture. We welcome the remarks of the UN President at the Opening Plenary expressing concern about absence of important players. As the financial crisis takes its toll on the poor, we want to know why rich governments have not sent their leaders to come up with an effective rescue package.”

From Europe, only French President Sarkozy will attend. Delegations from other countries are mainly at ministerial level. The message to poor and excluded members of society is that financing for development does not matter to those who are major contributors to financial, food, fuel and climate crises. Notably, the leaders from UK and Italy, who were supposed to lead G20 and G8 at Doha, respectively, have decided not to attend.

ActionAid believes that the next four days will be a test match for the international community and the world’s richest countries to come to an agreement on how to address the development financing amid the financial crisis.

Specioza Kiwanuka from ActionAid in Uganda said:

“It is hypocritical that the rich countries spent/earmarked trillions of dollars bailing out their banks, but showed too little commitment here at Doha to support the poor countries, which have also been severely affected by the crises they are not responsible for.”

Actionaid demands that the rich countries should be coherent with the pledges they have confirmed no later than this week at Development Aid Committee (DAC) level. According to the most recent estimate by ActionAid, presented at Doha in the “Hole in the pocket” report, developing countries may lose more than $400 billion by 2010 due to the financial crisis. This is no time to step back, lest millions of people will be sentenced to poverty.

 

SOURCE : ActionAid


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