Jubilee Debt Campaign UK : Financial crisis : Clean up global finance

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Clean up global finance

Tell the UK government to clean up global finance at the UN financial crisis summit.

The financial crisis is having a massive impact on the world's poorest countries, even though they had nothing to do with causing it, with at least 50 million more people pushed into poverty and fears of a new debt crisis.

April's G20 London summit failed to put people first in its response to the crisis, instead backing the same policies and institutions that have led to the crisis.

From 24-26 June 2009, the UN is holding a three-day summit of world leaders to consider the impact of the crisis on international development, and what can be done about it.

The summit - which brings together all 192 member nations - is a second chance to get the world back on track. But G20 countries have been trying to marginalise the summit, and keep the more ambitious proposals for reform off the table.

TAKE ACTION
Will you demand the UK government takes the UN summit seriously, and calls for measures that will clean up global finance?

Your emails really do make a difference. To act now, please fill in the boxes below. Feel free to add to or change the text of the message. (Fields marked * are required.)

your message: *
Dear Rt Hon Lord Malloch-Brown The UN Summit in New York, now from 24-26 June, is a critical opportunity to discuss the impact of the global financial crisis on development. It should agree measures to protect the poorest from a crisis they did not cause, and decide on far-reaching reforms that can create an equitable and just global economy. The UN process involves all 192 member states and is therefore an inclusive, global forum which is most appropriate to provide solutions to this global crisis. The UK must give this conference the political weight it deserves. I am disappointed to hear that Prime Minister Gordon Brown may not attend the conference. It is important that he takes part, especially given his prominent position as Chair of the G20 this year. In particular I would ask the UK to support the following measures being discussed at this UN conference: - Emergency funding must be provided to help developing countries cope with the downturn and stimulate their own economies. This must be without economic policy conditions attached, and largely as grants rather than loans, to help avoid a new debt crisis. - Debt cancellation is needed to assist those countries struggling with their debt burdens in the current crisis. In the longer term, a permanent international debt work-out process should be established. - A clear direction for international institutional reform should be set, so that existing bodies such as the IMF and World Bank are transformed. Serious consideration should also be given to proposed new institutions, such as a UN Global Economic Council, which could fill the gaps in global economic governance. Please make the most of this opportunity to lessen the impact of the crisis on the poor, and to build new, fairer economic systems that put people first. I look forward to hearing from you.

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