IMF, WB Set to Discuss International Financial Markets With UN ECOSOC
May 3, 1999 - 0:0
TEHRAN, (United Nations Information Center) The upcoming dialogue between the UN Economic and Social Council (ECOSOC) and the Bretton Woods institutions is another step towards instilling new life into ECOSOC as one of the principal organs of the United Nations, Council President Ambassador Paolo Fulci of Italy, said on Wednesday. Speaking at a news conference in New York on the eve of ECOSOC's meeting with the leaders of the International Monetary Fund (IMF) and the World Bank, Ambassador Fulci said that one of his goals when becoming president of the Council was to enhance Council's working relationship with the Bretton Woods institutions.
We want an ECOSOC which is truly action-oriented and results-oriented, Ambassador Fulci said, noting that efforts had begun last year to revitalize ECOSOC and to bring it back to its original role of coordinating among the various development bodies in the UN system. Named ECOSOC-Bretton Woods II, the one-day meeting will be held at UN Headquarters on Thursday under the theme, Functioning of International Financial Markets and Stability in Financing for Development. The first such meeting between representatives of ECOSOC and the Bretton Woods institutions was held in April 1998, also in New York. Representatives from the 54 countries that are Council members will represent the United Nations at the meeting.
International Monetary Fund (IMF) Managing Director Michel Camdesus, World Bank President James Wolfensohn, Development Committee Chairman Tarrin Nimmsnahaeminda Minister of Finance of Thailand and Interim Development Committee Chairman Carlo Azeglio Ciampi the Italian Minister of the Treasury are among the panelists who will speak on behalf of the Bretton Woods institutions. While there is no formal agenda for the dialogue, some likely areas of discussion will include promotion of economic recovery in developing and transition countries and ways of increasing long-term finance flows for development.
Debt relief for poor countries and other social policy initiatives are also likely to receive considerable attention. (UNIC)
We want an ECOSOC which is truly action-oriented and results-oriented, Ambassador Fulci said, noting that efforts had begun last year to revitalize ECOSOC and to bring it back to its original role of coordinating among the various development bodies in the UN system. Named ECOSOC-Bretton Woods II, the one-day meeting will be held at UN Headquarters on Thursday under the theme, Functioning of International Financial Markets and Stability in Financing for Development. The first such meeting between representatives of ECOSOC and the Bretton Woods institutions was held in April 1998, also in New York. Representatives from the 54 countries that are Council members will represent the United Nations at the meeting.
International Monetary Fund (IMF) Managing Director Michel Camdesus, World Bank President James Wolfensohn, Development Committee Chairman Tarrin Nimmsnahaeminda Minister of Finance of Thailand and Interim Development Committee Chairman Carlo Azeglio Ciampi the Italian Minister of the Treasury are among the panelists who will speak on behalf of the Bretton Woods institutions. While there is no formal agenda for the dialogue, some likely areas of discussion will include promotion of economic recovery in developing and transition countries and ways of increasing long-term finance flows for development.
Debt relief for poor countries and other social policy initiatives are also likely to receive considerable attention. (UNIC)