Algeria today called for reform of the world economic system, including debt relief for developing countries, a reinforced United Nations role in protecting biodiversity, and full international engagement in combating climate change.
“The best way to avoid even deeper [economic] crises consists in rebuilding world financial and economic governance,” Foreign Minister Mourad Medelci told the General Assembly’s annual session.
He added: “A governance which leaves less room for the hazards of the market and speculation, a governance that would ensure equitable representation for developing countries, both in adopting new regulations and in managing the financial institutions of the 21st century.”
Mr. Medelci stressed that the fall-out from the world economic crises is felt more severely in the countries that are the most deprived, particularly in Africa, and he called on the international community to abide by its commitments with regard to official development assistance and to adopt additional measures to allow these countries at least to approach, if not to reach, the anti-poverty Millennium Development Goals (MDGs) by their 2015 deadline.
On specific issues he proposed a debt moratorium for those developing countries which are facing difficulties and improved access for their produce to the markets of the industrialized world.
He underscored the need for a reinforced UN role in protecting biodiversity in developing countries and promoting north-south cooperation and called increased assistance to developing countries, especially in Africa, to combat climate change, including technology transfers and financial flow.