By SPA,
United Nations : United Nations Secretary General Ban Ki-moon on Monday expressed deep concern about the impact of the global financial crisis on the developing world but lauded efforts made by the gathering of finance ministers and the IMF at their meeting in Washington this weekend.
However, he also said efforts among governments and international financing institutions should be better coordinated and called for an overhaul of the global financial system. “To ensure continued stability and protect economic gains of both developed and developing countries, we need to consider deep and systemic reforms based on an inclusive multilateralism for a global financial system that can better meet the challenges of the 21st century.”
Ban also said the U.N. has to “consider urgent multilateral action to alleviate the impact of recent events on the development agenda of the organization.” In this regard, he said next month’s Financing for Development Conference in Doha will provide an opportunity to review the current financial difficulties and its impact on aid commitments. The Doha conference is aimed at exploring ways the U.N. can better collaborate with the IMF, World Bank and regional development banks.