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News Agencies

UN summit on financial crisis delayed until late June

by News Agencies

27 May 2009

he UN General Assembly decided on Tuesday to postpone its early June summit on the world financial and economic crisis to late June.

"For the sake of both a good outcome document and high-level attendance, I believe there would be a consensus on the conference being rescheduled to 24-26 June, 2009," assembly president Miguel d’Escoto Brockmann told a plenary session.

The UN Conference on the World Financial and Economic Crisis and Its Impact on Development was originally slated to be held on June 1-3, with an aim to find a common and lasting solution to address the ongoing financial and economic crisis of the world.

But, in preparations for the summit, "a large number of representatives from different regions" requested a brief deferral of the conference to June 24-26 to facilitate the participation of their governments at the highest level, d’Escoto said.

The representatives also indicated that the intergovernmental negotiations on a draft outcome document are proven to be "more challenging and may need more time to arrive at an agreement" among member states.

"It is our common endeavor to ensure the success" of the conference, which would depend on "a positive and forward-looking document and the active engagement of the political leadership of the member states at the highest possible level," d’Escoto said.

The assembly president promised that the negotiating process of the outcome document will be "open, comprehensive, transparent, inclusive and above all driven by member states," and that the document will be negotiated and approved by member states by consensus.

He urged member states to demonstrate the "necessary political will and good faith" so as to agree on the document no later than June 15.

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