Wednesday, 1 April 2009

There is no more urgent time than now ... (2)

... to feel optimistic.

Suspend cycnicism. Hold on to hope. Pray.

[Robert] Zoellick [ president of the World Bank] said world leaders should learn from previous economic crises in Latin America in the 1980s and Asia in the 1990s and not repeat the mistake of ignoring the plight of the most vulnerable. Developing countries needed to be part of the global solution to the global crisis.

"Isn't it time to institutionalize support for the most vulnerable during crises, especially those not of their own making?" said Zoellick, who has proposed that developed countries allocate 0.7 percent of the stimulus packages to a fund for developing countries.

"A commitment to put in place structures to support and fund safety nets for those most at risk would go a long way to show that this G-group will not endorse a two tier world, with summits for financial systems, and silence for the poor." he added, calling for market economies with a human face."

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