NewsWhore
09-25-2008, 04:30 PM
In an address to the United Nations 63rd General Assembly, President Leonel Fernandez rallied for the world's richest countries to provide the same emergency funding to achieve the United Nations' Millennium Development Goals (MDGs) aimed at slashing global poverty, hunger and other social ills as they have provided for bailing out failed financial institutions.
"What is certain is that at this moment, in order to achieve the Millennium Development Goals, we need from the international community a financial rescue plan, a kind of 'bailout,' as they say these days," he said, citing World Bank figures that $50 billion is needed annually to reach the MDGs by their target date of 2015.
Referring to the "stupefying" rise in the price of oil, he said that the extra $5 billion that the Dominican Republic has had to pay since 2004 could fund all public investments needed to achieve the MDGs by 2015. Fernandez assailed unregulated speculation in selling and buying futures contracts in oil and foodstuff, which "through excessive speculation, fraud and manipulation" lead to the distortion of economic fundamentals.
"It is incomprehensible that someone sells what he does not have and somebody else buys something that he does not want to have," he said. "Yet that is what has been happening these days in the clearest demonstration of what is being called 'casino capitalism'."
President Leonel Fernandez also called for greater cooperation from the United States in training, in sharing of confidential information, logistics and technology to confront the growing problem of drug trafficking during a press conference at the UN. He added that the US has to reduce its domestic consumption and demand for drugs. He said that in the measure that there is real and effective collaboration to avoid that the present problem does not escalate into a domestic security problem for the United States. He highlighted that drug trafficking corrodes and weakens institutions and the countries of the region could become failed states. "Where there is a failed state terrorist groups can easily install their operations, and this could become a security threat for the United States, he said.
While in New York, Fernandez asked US President George Bush to help the DR fight drug trafficking. In his meeting with US President George Bush, Fernandez highlighted the need for increased cooperation in the area of drugs and also pledged the DR's participation in the newly created "Prosperity Initiative for the Americas." El Salvador, Guatemala, Honduras, Panama, Mexico, Peru, the US and Canada have all agreed to take part.
Fernandez and representatives of the 15 Caricom countries would meet today with Condoleezza Rice to continue to talk about security in the region and the threat of narcotics trafficking.
For the speech, see http://www.presidencia.gov.do
More... (http://www.dr1.com/index.html#1)
"What is certain is that at this moment, in order to achieve the Millennium Development Goals, we need from the international community a financial rescue plan, a kind of 'bailout,' as they say these days," he said, citing World Bank figures that $50 billion is needed annually to reach the MDGs by their target date of 2015.
Referring to the "stupefying" rise in the price of oil, he said that the extra $5 billion that the Dominican Republic has had to pay since 2004 could fund all public investments needed to achieve the MDGs by 2015. Fernandez assailed unregulated speculation in selling and buying futures contracts in oil and foodstuff, which "through excessive speculation, fraud and manipulation" lead to the distortion of economic fundamentals.
"It is incomprehensible that someone sells what he does not have and somebody else buys something that he does not want to have," he said. "Yet that is what has been happening these days in the clearest demonstration of what is being called 'casino capitalism'."
President Leonel Fernandez also called for greater cooperation from the United States in training, in sharing of confidential information, logistics and technology to confront the growing problem of drug trafficking during a press conference at the UN. He added that the US has to reduce its domestic consumption and demand for drugs. He said that in the measure that there is real and effective collaboration to avoid that the present problem does not escalate into a domestic security problem for the United States. He highlighted that drug trafficking corrodes and weakens institutions and the countries of the region could become failed states. "Where there is a failed state terrorist groups can easily install their operations, and this could become a security threat for the United States, he said.
While in New York, Fernandez asked US President George Bush to help the DR fight drug trafficking. In his meeting with US President George Bush, Fernandez highlighted the need for increased cooperation in the area of drugs and also pledged the DR's participation in the newly created "Prosperity Initiative for the Americas." El Salvador, Guatemala, Honduras, Panama, Mexico, Peru, the US and Canada have all agreed to take part.
Fernandez and representatives of the 15 Caricom countries would meet today with Condoleezza Rice to continue to talk about security in the region and the threat of narcotics trafficking.
For the speech, see http://www.presidencia.gov.do
More... (http://www.dr1.com/index.html#1)