Latest update March 20th, 2025 5:10 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Golden opportunity beckons for new economic policy

May 14, 2009 News

Global Financial Crisis…

 

 

President Bharrat Jagdeo speaking at the 17th Session of the United Nations Commission on Sustainable Development, yesterday, told the session that the current global economic downturn presents a golden opportunity given that the international community is moving to create a new global institutional and regulatory framework.

“As this framework is formed, we must ensure that it creates the platform to meaningfully integrate sustainable development into global decision-making.”

He noted that awareness-raising, though vital, is not enough to achieve sustainable development and as an international community, it is incumbent that world leaders turn the awareness into solutions that make the difference that is urgently required.

The President urged that success will not be achieved through rhetorical declarations or aspirational action plans, “and we won’t succeed through unreformed multilateral institutions that were designed for a radically different era.”

He said that what is needed is to embrace a global responsibility to forge a new international policy environment whose effectiveness is commensurate with the challenges we face.

“This year presents us with two significant opportunities to do this.”

Jagdeo told the session that “Future generations will not forgive us and many of the important policies emanating from the Johannesburg, Barbados, Mauritius, and other major UN Conferences will remain unrealized if we fail to grasp these two opportunities.

“And in both cases, true multilateralism and international partnership are not just desirable out of a sense of solidarity or fairness.”

He added that the old paradigm where small groups of countries could decide on behalf of the world, will not work.

“I welcome the emergence of the G20 grouping which enables a meaningful role for the developing world in global decision-making…I believe that the design of a new global financial architecture will be better because of the experience and insights of the large developing countries…

“But I also feel that this architecture will be lopsided in favour of the large countries of our world unless the G20 is augmented by the voices of the small countries of the developing world.”

Similar Articles

The Glenn Lall Show|| March, 17th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

GPF arrests Presidential Guards by 48 runs as cricket action gets underway 

GPF arrests Presidential Guards by 48 runs as cricket action gets...

Mar 20, 2025

2025 Commissioner of Police T20 Cup…  Kaieteur Sports- Guyana Police Force team arrested the Presidential Guards as they handed them a 48-run defeat when action in the 2025 Commissioner of Police...
Read More
Superbet supports One Guyana 3×3 Quest

Superbet supports One Guyana 3×3 Quest

Mar 20, 2025

FIDE Master Drayton outclasses strong competition to lift title 

FIDE Master Drayton outclasses strong competition...

Mar 20, 2025

Wiltshire, Chris dominoes tourney set for March 23

Wiltshire, Chris dominoes tourney set for March

Mar 20, 2025

Houston Sec’, New Central, Saints sent packing

Houston Sec’, New Central, Saints sent packing

Mar 20, 2025

Charles’ all-round performance helps EBDCA U23 to victory

Charles’ all-round performance helps EBDCA U23...

Mar 20, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]