Meeting in Casablanca, Morocco, the committee on economy, social cohesion and environment of the Socialist International has called on international financial institutions, and most notably the International Monetary Fund, to redefine their role toward developing countries.
The theme of the meeting was set by Moroccan Prime Minister Abderrahmane Youssoufi, who is also a vice president of the Socialist International. He called on the IMF to stop forcing reform in developing countries, and instead take a more “supporting and supervising" approach.
Youssoufi noted that as international trade has been liberalized, the benefits from the global trend have been spread unevenly. Currently, he stated, less than 10 percent of the world’s population produces and uses more than 70 percent of goods and services. Half the world lives on less than $2 a day."
For the integration of the developing countries to be equitable, Youssoufi stated, there should be an improvement of access into the markets of the developed countries for less developed nations.
He urged that developed countries take a more generous approach in canceling the often-crippling debt carried by the less developed countries.
The meeting in Casablanca was attended by delegates Tunisia, Morocco, Spain, Germany, Finland, France, Mexico, Sweden and Norway. – (Albawaba-MEBG)
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