General Assembly to consider possible postponement of financial summit

General Assembly President Miguel d'Escoto Brockmann

22 May 2009 – The President of the General Assembly announced today that the body will meet early next week to consider postponing a high-level gathering which seeks to assess the economic crisis which has devastated the world economy and search for solutions taking all nations' interests into account.

An Assembly plenary on 26 May will deliberate on whether to push back the United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development, originally slated to be held from 1-3 June, to 24-26 June, according to a statement issued by President Miguel d'Escoto's spokesperson.

“Delegates have expressed concern that they require more time to negotiate the draft outcome document that is to be adopted by world leaders,” the statement noted, adding that Mr. D'Escoto has consulted with all major regional groups in recent days on the meeting's possible three-week deferral.

The Assembly met this evening, but failed to reach a consensus on the postponement.

“The issues are complex, but I am confident that we will negotiate a strong outcome document that will address the needs and concerns of the developing countries as well as the industrialized countries,” Mr. D'Escoto said. “We share the determination to address the urgent needs that this economic crisis has generated worldwide.”

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