Fiji PM Bainimarama Calls for Developing Countries to be Given Increased Voice in Global Economic Governance

In his capacity as Chair of the Group of 77 and China, Prime Minister, Commodore Voreqe Bainimarama, today attended theSpecial High Level Meeting of the UN’s Economic and Social Council (ECOSOC) in New York.

Together with the Bretton Woods Institutions, the World Trade Organization, and the United Nations Conference on Trade and Development, the meeting is centered on the theme “Coherence, Coordination and Cooperation in the Context of Financing for Development and the Post-2015 Development Agenda,”

With the attendance of Ministers of Finance, Development and Cooperation and Governors of Central Banks from around the globe, the meeting’s format includes inter-active panel discussions and debates on the world economic situation and financing for development in the context of sustainable development and the post-2015 development framework.

Before addressing the High Level Meeting on behalf of the G77 and China, the Prime Minister met the Secretary-General of the United Nations, H.E. Mr Ban Ki-moon and the President of ECOSOC, Ambassador Nestor Osorio of Colombia.

In his address, Prime Minister Bainimarama noted that the world economy is still struggling to recover five years on from the global financial crisis, while the global financial and monetary systems still need major reform in order to be “effective, transparent and legitimate.” He added that international financial structures must reflect today’s realities and give “developing countries an increased voice in economic governance.”

The Prime Minister also delivered a statement at a working luncheon today in his capacity as Chair of the G77 and China. The luncheon was hosted by the President of ECOSOC which also saw the attendance of the Deputy Secretary-General of the United Nations, Mr Jan Eliasson. In his address, Prime Minister Bainimarama said that in order to achieve the theme of the meeting, development partners must maintain a strong cooperative platform between them.