New York - Germany concurred Thursday with a growing demand
for the establishment of a global stimulus plan that will benefit the
world's 'poorest of the poor.'
The global stimulus is a key recommendation by civil society
groups and developing countries to keep poorer economies afloat as
the recession spreads to all corners of the world.
German Minister for Economic Cooperation and Development
Heidemarie Wieczorek-Zeul said in an address to the United Nations
General Assembly that the global stimulus should embrace ecological
concerns proposed by the UN in what is known as a 'green new deal.'
'This financial and economic crisis is a rupture of historic
dimensions,' she told the assembly on its second day of debate on the
financial crisis.
'It is the evident failure of market radicalism and an obvious
sign for a lack of responsible, sustainable and coordinated political
action on global economic issues.'
Wieczorek-Zeul urged the world to avert a massive humanitarian
disaster in the wake of the crisis, citing World Bank predictions
that about 200,000 to 400,000 more children could die each year
between 2009 and 2015.
Germany supports a strengthened UN role in global economic
governance and the setting up of commissions to deal with specific
tasks to assist developing countries. But she said the global
stimulus should go to the poorest in the world.
Wieczorek-Zeul said Germany will deliver on Official Development
Assistance (ODA), a scheme under which rich governments are requested
by the UN to donate 0.7 per cent of their gross national income
towards development in poor countries. Only the Nordic and
Scandinavian countries have reached or surpassed the limit.
'This conference is an act of solidarity with all those whom these
rights have been denied so far - including the freedom of
expression,' she said, calling for achieving freedom from want,
freedom from fear and freedom to live in dignity for the poor.
The assembly's three-day debate on the global financial crisis was
to end on Friday with the adoption of a document that would respond
to demands for assistance by developing countries hit by the
recession.
The document calls for a stimulus package of over 1 trillion
dollars, which is the amount agreed upon by the G20 - the Group of 20
richest nations - when they met in London in April to devise measures
to fight the recession. The group is scheduled to meet again in
September in Pittsburgh.
The UN and government representatives are calling on the G20 to
deliver on the promise for the stimulus.
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