New surges in global food and fuel prices as well persisting effects of recent economic and financial crises highlight the need for “concerted action” to further boost development, prosperity and equity for all, a senior United Nations official said in a March 10 meeting of a key U.N. council and representatives of major international organizations.
Accelerated progress toward achieving the eighth Millennium Development Goal, on establishing a global partnership for development, is essential in overcoming the setbacks to social and economic development caused by the recent global crises, said Lazarous Kapambwe, president of the U.N. Economic and Social Council.
“In the absence of effective policy coordination and cooperation among governments around the world, there is a real risk of a new global recession,” Kapambwe said in his remarks at the meeting, which was attended by officials of the World Bank, International Monetary Fund, U.N. Conference on Trade and Development and World Trade Organization. “This would add to the already immense human cost of the crisis, which has seriously set back the development efforts of many developing countries.”
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