CubaMinrex. Sitio del Ministerio de Relaciones Exteriores de Cuba

Special Declaration on the world economic and financial crisis

The Ministers underscored that the economic and financial crisis with its multifaceted impact is one of the most serious threats facing the world today, in particular developing countries. They expressed their serious concern that the Non Aligned and other developing countries are and will increasingly be the most seriously affected by the crisis, more than industrialized countries, where it originated as a result of the structural imbalances and deficiencies of the prevailing international economic system. Hence, they called for a new international financial architecture, with equal voice and participation of developing countries. Furthermore, they underlined that measures taken to resolve the effects of the crisis should not be geared at preserving the serious flaws of the present international economic architecture, which has demonstrated to be unjust, inequitable and ineffective, nor selective in nature, but aimed at introducing the required structural reforms, and in no case should be at the expense of developing countries.

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