Minister Maite Nkoana-Mashabane to participate in UN High-Level Conference on global financial and economic crisis, New York, USA, 24 to 26 June 2009.

New York – Today, Wednesday 24 June 2009, International Relations and Cooperation Minister Maite Nkoana-Mashabane will participate in the United Nations High Level Conference on World Financial and Economic Crisis and its Impact on Development scheduled for 24-26 June 2009.

Accordingly the Conference will highlight the following:-

  • Examine the current economic and financial crisis and its impact on development; 
  • Seek to find appropriate and effective solutions to curbing the crisis while assessing future impacts of the crisis on, inter alia, employment, trade, investment and development, including the achievement of the internationally agreed development goals and the Millennium Development Goals; and
  • Highlight the importance of the role of the United Nations (UN) and its Member States in the ongoing international discussions on reforming and strengthening the international financial and economic system and architecture.

Developing countries, in particular, view the global crisis as an opportunity to reform the global financial and economic regimes and to increase their say and participation in the decision-making processes and governance structures of the Bretton Woods Institutions (BWIs).

The conference will further consider

  • The contributions of the UN development system to the international response to the crisis. 
  • Coordinated action from UN Member States aimed at minimising the impact of the global crisis on development.
  • Envisioned that the Conference will discuss immediate actions needed to provide assistance to the most vulnerable countries the majority of which are in Africa.

South Africa as a member of the G77, consisting of 132 developing countries, supports the adoption of a detailed outcome document.


Background to the UN high level conference on the global financial crisis

The UN Conference will give effect to the decision of the International Conference on Financing for Development, held in Doha, Qatar, from 28 November to 2 December 2008, which agreed to hold a United Nations conference in 2009 on the “world financial and economic crisis and its impact on development.” 

Subsequently In April 2009 former President Motlanthe joined world leaders at the G20 Summit in London, United Kingdom where South Africa stressed that a global response was required to mitigate the impact of the crisis and prevent its contagion to emerging markets and developing countries, in particular Africa.

In her contribution to the Conference Minister Nkoana-Mashabane is expected to emphasize the need for a speedy implementation of the G20 Summit resolutions in particular the deployment of resources to salvage vulnerable economies.


Highlights of the conference program

24 June 2009,

10h00- 13h00- Opening of the conference by Secretary General of the United Nations
       - Election of the President
       - Opening statement by the President of the conference, the President of the General Assembly and the Secretary General of the UN.

15h00- 18h00- General exchange of views on the world financial and economic crisis and its impact on development. (Statement by Heads of State of Government, Ministers and Heads of Delegation).
Round table 1 -Theme” the role of the UN and its Member states in the ongoing International discussion on reforming and strengthening the International Financial and Economic system and architecture”

25 June 2009

10h00- 13h00- Round table 2-Theme “Coordinated and collaborative action and appropriate measures to mitigate the impact of the crisis on development”.

Minister Maite Nkoana Mashabane to have a bilateral meeting with the UN Secretary General Ban-Ki- Moon

Issued by Nomfanelo Kota on +27 82 459 3787

     South African Permanent Mission to the UN
     New York
     United States of America
     24 June 2009.



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