21 March 2002
FINANCING FOR DEVELOPMENT SUMMIT
Vicente Fox, President of Mexico,
said if the twenty-first century was to become the century
of development for all, then everyone must be prepared to
undertake bold action. That implied a search for new ideas
Secretary-General Kofi Annan
said, "We are here to discuss the fate of people. Not
people in abstract, but million upon million of individual
men and women and children." He said some donors might
still be sceptical, because they were not convinced that "aid
works". There was abundant evidence that aid did work.
The "Monterrey Consensus" was not a weak document,
it could mark a real turning point in the lives of poor people
all over the world.
Han Seung-soo, President of
the General Assembly, stressed that for rapid development,
countries must have access to financial resources, the human
capacity to efficiently absorb those resources and the "appropriate"
infrastructure to make productive use of external financial
James D. Wolfensohn, President
of the World Bank, said all people had a right to human dignity
and a right to control their own lives, yet for billions,
poverty snatched that right away. He looked forward to giving
to the poor of the world the chance that they needed -- partnership,
Horst Köhler, Managing
Director of the IMF, said it was possible to achieve the Millennium
Development Goals. Beyond Monterrey, the consensus must be
transformed with a sense of urgency into concrete action.
Mike Moore, Director-General
of the WTO, said poverty in all its forms was the greatest
single threat to peace, democracy, human rights and the environment.
Abolishing all trade barriers could boost global income by
$2.8 trillion and lift 320 million people out of poverty by
Hugo Chávez Frías,
President of Venezuela and Chairman of G-77, said that the
world was not only crooked, but "upside down". The
development model of the North very often had caused the underdevelopment
of the South. It had been shown that if the entire world acquired
the standard of living of the most developed countries, 10
planets similar to earth would be necessary to sustain the
life of the people on the planet.
José María Aznar,
President of Spain, speaking for the European Union, said
the world should be fairer, freer, more prosperous, and better.
The European Union was the greatest donor of the development
assistance in the world. Its ODA average would be 0.39 per
cent by 2006. The Union would also work to ensure that ODA
was more effective and efficient.
Olusegun Obasanjo, President
of Nigeria, commended the increase in ODA announced by the
European Union and the United States in recent days.
National security without human security was inconceivable.
The developing world expected substantial debt relief for
all developing countries.
Alejandro Toledo Manrique, President
of Peru, said that poverty prevented the true exercise of
freedom and conspired against democracy. Globalization must
be an integrating, rather than an excluding, philosophy.
Leo A. Falcam, President of
the Federated States of Micronesia, said unless there was
political stability, transparency and accountability, economic
development initiatives were bound to fail.
Kodjo, Prime Minister of Togo, said the assets of the three
richest persons in the world exceeded the GDP of the 48 poorest
countries. He appealed to the developed countries to increase
FDI and ODA.
Guy Verhofstadt, Prime Minister
of Belgium, said the Monterrey consensus deserved a true debate.
On aid and debt relief, Belgium had proposed setting up a
fund financed by the three richest countries. Poverty must
be eradicated, as that had fed the fertile soil of terrorism.
Fanaticism could not become the new "opium of the excluded".
Jean Chrétien, Prime
Minister of Canada, said leaders of developing nations needed
a commitment to good governance and the rule of law, sound
fiscal and monetary policies and improved transparency. The
challenge for leaders of developed countries was to reward
those efforts with effective assistance.
José María Pereira
Neves, Prime Minister of Cape Verde, said the United Nations
must be at the centre of the effort to sustain development.
Thabo Mbeki, President of South
Africa, said leaders must reach explicit commitments on development
financing and then proceed with great clarity of purpose to
the Johannesburg Summit in September to map out the detail
for sustainable development.
Tommy E. Remengesau, Jr., President
of Palau, said there must be a special recognition and support
for those developing countries making genuine efforts to help
themselves. Donor nations should expect each developing nation
to establish a strong policy framework as a prerequisite to
receiving financial aid.
Enrique Bolaños Geyer,
President of Nicaragua, said opportunities were needed to
sell the products of developing countries in international
markets and to reduce trade-distorting subsidies.
Fidel Castro Ruz, President
of Cuba, said the existing world order represented a system
of plundering and exploitation like no other in history. "The
world economy is today a huge casino." Analyses indicated
that for every dollar that went into trade, over 100 ended
up in speculative operations. The Monterrey consensus, which
the masters of the world were imposing on the Conference,
intended that "we accept humiliating, conditioned and
Francisco Guillermo Flores Pérez,
President of El Salvador, said the first prerequisite for
tackling underdevelopment and poverty was for a country to
shoulder its responsibilities.
Boris Trajkovski, President
of The Former Yugoslav Republic of Macedonia, said what the
people really needed was jobs. Long-term prosperity required
mobilization of domestic financial resources as an important
engine of economic development.
Jorge Battle Ibañez,
President of Uruguay, welcomed the efforts by the international
financial institutions, such as the IMF and the actions of
some developed countries, such as United States. Opening up
of markets remained the best way to combat poverty.
Festus G. Mogae, President of
Botwana, said that while individual countries bore the primary
responsibility for their own advancement, development was
a global challenge requiring global solutions.
Ricardo Maduro Joest, President
of Honduras, said he supported the commitments made by donors.
He urged donor countries to make additional commitments to
increase grants over loans made on a conditional basis. Success
in defeating poverty was possible only with development assistance
and market access.
Dominguez, President of the Dominican Republic, said financing
for agriculture must be among the new priorities of the international
King Abdullah Bin Al Hussein
of Jordan said for too long, deep pools of poverty and desperation
had served as breeding grounds for conflict and division.
"We must move quickly to remedy unfairness and heal despair."
In 2000, developing countries received just 19 per cent of
all foreign direct investment flows, down from 41 per cent
Abderrahman Youssoufi, Prime
Minister of Morocco, hoped the Conference would agree to greater
inclusion of developing countries in decision-making. Africa
faced major difficulties and deserved priority attention.
Pascoal Manuel Mocumbi, Prime
Minister of Mozambique, said good governance, sound economic
policies, the rule of law, respect for human rights, transparency
in decision making and combating poverty were fundamental
to the success of national development plans.
Miguel Angel Rodríguez
Echeverría, President of Costa Rica, said a system
of emergency loans entrusted to the World Bank would resolve
many liquidity difficulties, and a system of guarantees by
the World Bank and regional development banks for the issuance
of bonds with adequate monitoring policies could guarantee
better management of national crises by giving central banks
immediate access to funds.
Ralph Gonsalves, Prime Minister
of Saint Vincent and the Grenadines, said the international
financial structures, created in Bretton Woods, ought to be
substantially reformed to meet the challenges of a new age.
Stjepan Mesic, President of
Croatia, said the globalization of enrichment, on the one
hand, and impoverishment, on the other, must be replaced by
a globalization of development.
Tarja Halonen, President of
Finland, said products and services originating in the developing
countries must have the opportunity to gain fair access to
markets in the industrial countries.
Ion Iliescu, President of Romania,
said it was unacceptable that 1 per cent of the world's wealthiest
had revenues higher than 57 per cent of the world's poor.
Andrés Pastrana Arango,
President of Colombia, said human beings must work as a global
community so that all could share in the same fate.
Kjell Magne Bondevik, Prime
Minister of Norway, said 11 September tore down the invisible
wall that divided rich and poor. Those events had driven home
the recognition that poverty, lack of development and social
injustice had to be addressed seriously if the long-term battle
against global terrorism was to be won.
Thaksin Shinawatra, Prime Minister
of Thailand, said new models of socio-economic development
must be explored. The promotion of micro-financing and micro-credit
was one of the highlights of his country's economic policies.
Abdoulaye Wade, President of
Senegal, said that in April Senegal would host a conference
with the private sector on financing the New Economic Partnership
for African Development (NEPAD). The private sector had developed
Europe, Japan, the United States and other countries -- Africa
should move in that direction.
Abdelaziz Bouteflika, President
of Algeria, said the debt problem, massive speculative capital
flows, money laundering, and financing of terrorism were symptoms
of the poor global monetary system.
Mireya Elisa Moscoso Rodríguez,
President of Panama, said her country had lived and suffered
through all possible models -- totalitarianism, socialism
and capitalism. While industrialized countries had used up
most of their resources, developing countries were told to
decrease the use of their own natural resources.
Mohamed Ghannouchi, Prime Minister
of Tunisia, said coherence in development policies across
the world and coordination between governments and institutions
was key. The United Nations was the appropriate forum to promote
Nagoum Yamassoum, Prime Minister
of Chad, said his country had committed itself resolutely
to build a society based on liberty and law. Chad had tried
to redress itself politically and economically and thanked
all its bilateral and economic partners for their support.
Eduardo Duhalde, President of
Argentina, said a new architecture for development would not
be possible if the rich economies did not reduce protectionism
in all its forms. Aid could not be efficient in a context
of severe trade distortions, mainly in the agricultural sector.
El Hadj Omar Bongo, President
of Gabon, said that, although developing countries had shown
real commitments to support development and fight poverty,
that commitment was not matched by their partners. Africa,
which constituted 10 per cent of the world's population, only
had 2 per cent of world trade.
Jorge Quiroga Ramirez, President
of Bolivia, said that to combat corruption, Bolivia was decentralizing
public investment and aiming it at social programmes. Reform
of the judicial system and institutions was also underway.
"We shaped up and now we are frustrated that, in the
football match of world trade, the rules are constantly changing",
he said. There was no financing for development if there was
no opening of markets for development.
Owen S. Arthur, Prime Minister
and Minister of Finance of Barbados, said "Financing
is to development what a steady supply of oxygen is to human
The Conference was unprecedented not only in bringing finance
and development ministers together with businessmen, but
also in the way the United Nations, IMF, World Bank and
WTO had worked together in preparing it, Secretary-General
Kofi Annan said. He added that good governance should not
be seen as being imposed by the IMF or other outside forces.
It was in the interest of all, especially the poor.
Horst Köhler, IMF, said the
IMF and the Argentine authorities were working hard to find
a way out of the crisis.
Mike Moore, WTO, said that the
Doha development round must be concluded on time, in January
Asked what standards a country
needed to fit to receive assistance, James Wolfensohn, World
Bank, said that both the donor and recipient countries had agreed
on the standards. They included working legal and financial
systems, elimination of corruption, benefits for the poor and
acceptance of the responsibility to get the job done.
Venezuela proposed to form an
international humanitarian fund into which developing countries
could pay 10 per cent of their external debt and 10 per cent
of their military expenditure to save the lives of children
dying of disease and hunger around the world, Hugo Chávez,
President of Venezuela said.
Jocelyn Dow of Red Thread/Women's
Environment and Development Organization (WEDO), said that President
Fidel Castro of Cuba was the only head of State to address the
central contradiction of the existing international system.
Martha Arias, of Intermom Oxfam,
said NGOs had called for reform of the international financial
architecture. They had proposed that greater transparency would
make it possible to address incoherence by harmonizing policies.
Paul Tennasse, of the World Confederation
of Labour, said NGOs intended to press for negotiations with
the World Bank, IMF and the multilateral institutions for more
space so that they could have greater input in the United Nations
conferences. Otherwise, such meetings seemed like public relations
19 March 2002
20 March 2002
22 March 2002