Published: October 17, 2011
G20 Countries Have Greater Responsibility to Restore Global Financial Stability
Secretary-General Ban Ki-Moon today said that the world's major economies must shoulder greater responsibility to restore global financial stability, urging them to follow the model of the 2008 London summit of the Group of 20 (G20) when leaders agreed to back the financial system for the benefit of all with more than a trillion dollars in credit.
"Today, the G20 must be no less ambitious. It must be imaginative in considering innovative new means of financing development and renewable energy for all. The G20 must also follow through on the development agenda agreed to last year in Seoul, with a special emphasis on achieving the Millennium Development Goals." - Mr. Ban
He pointed out that developing economies are a vital source of global dynamism, which can be unl eashed for the benefit of future generations if they are supported to advance on a course of sustainable development.
The Secretary-General exhorted leaders of the larger economies to re-dedicate themselves to securing a comprehensive climate change agreement, noting that there can be no sustainable development or prosperity for anyone unless the realities of climate change are addressed.
He also underlined the need to expand women's participation in all spheres of life, including in parliaments. The Secretary-General noted that 28 countries now have at least 30 per cent women's representation in parliament, but that also meant that more than 160 States have not reached that threshold.
The youth must also not be neglected, the Secretary-General said, noting that they are helping change the world as evidenced by the recent political changes in North Africa and the pro-democracy uprising in a number of countries in the Middle East.
Source: United Nations
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