Sri Lanka has called for a reform of the UN system to better enable it to respond and prevent global financial and economic emergencies.
Deputy External Affairs Minister Neomal Perera speaking at the XVI NAM Summit Ministerial Meeting in Iran said that there is deep social impact resulting from the global financial and economic crises, as well as numerous challenges posed by climate change and related environmental degradation and loss of resources.
“These require effective global, universal and integrated responses. For sustainable and balanced global growth, there needs to be close coordination of macroeconomic policy decisions with other areas of global governance, including those related to the multilateral trading system; aid architecture; poverty eradication and sustainable development, including climate change,” the External Affairs Ministry quoted him as saying.
In this context, he said that Sri Lanka is of the view the United Nations must play a role, as it has the legitimacy to deal with pressing global economic governance and development related issues.
With 193 Sovereign States, the UN has the collective mandate and is the major forum where global issues of concern can be discussed to find ways and means to meet the needs and challenges in this century.
“There is an urgent need for a substantive and comprehensive reform of the UN and the international economic and financial system and architecture. These include policies, mandates, scope and governance, to better enable it to respond and prevent financial and economic emergencies, effectively promote development and equitably serve the needs of Member States- particularly developing countries. International Financial Institutions in particular, must have a clear development orientation,” he said.