UN chief convening summit on financial crisis

UN chief convening summit on financial crisis

United Nations: UN Secretary General Ban Ki-moon, with the help of the Emir of Qatar, has summoned more than 20 heads of state and governments to Doha on 28 November to discuss the global financial crisis, the world body has said.

“The Secretary-General is convening a high-level retreat meeting, with leaders of G20 and non-G20 countries, to discuss the global financial crisis," said Marie Okabe, his deputy spokesperson.

She further informed that the meeting will help pave the way toward the ministerial level meeting on finance and development on 29 November-2 December in Doha with Ban on hand.

“Details of the preparation are still being worked out," she said. On Saturday Ban welcomed the G20 response to the global economic crisis after the White House-hosted summit of top economies closed with a pledge to cooperate more to restore global growth and to reform the world’s financial system.

“The secretary-general welcomes the Declaration of the Summit on Financial Markets and the World Economy, held in Washington DC today, which committed leaders to joint action," a statement issued by his office said.

“He noted that the agreement on the international coordination of stimulus packages, a move he had advocated in his remarks at the White House, also new market regulation to avoid future crises, more inclusive new economic governance, and the need to avoid trade and investment protectionism," the statement said.

Ban, who attended the summit of the Group of 20 developed and developing nations, said that the stimulus programs were an opportunity to promote green economic development, mentioning more support for renewable energy, conversion to more carbon-friendly systems, and investing in climate change adaptation measures in the most vulnerable developing economies.