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    Global exit strategy from crisis needed


    International Trade Forum - Issue 1/2009

    The United Nations Conference on Trade and Development's (UNCTAD) first symposium on the impact of the world economic crisis emphasized that the global downturn requires a response that takes all countries and peoples into account.

    The symposium concluded with a call for an inclusive response to the global economic downturn that will reform the international financial system, protect developing countries and the poor, and supply funding and effort to maintain and create jobs.

    Specific recommendations included a debt moratorium for heavily indebted developing countries, so that their governments have more money available for stimulus measures for their economies; a currency exchange-rate system that is more stable; and a global jobs programme.

    Speakers over the two days of meetings said repeatedly that recent reports of economic improvement in industrialized countries should not be taken to mean that the downturn is over, and should not lead decision makers to ignore the profound and long-lasting effects on poor countries.

    UNCTAD Secretary-General Supachai Panitchpakdi told the meeting that the intent of the gathering - to give voice to the voiceless - had proved valuable. 'The rest of the world cannot be an afterthought,' Mr Supachai said. 'These matters are so often discussed at the global level, by the powerful. The innocent bystanders should be heard from.'

    For more information visit HYPERLINK http://www.unctad.info/en/Public-Symposium-Website