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PM stresses need for reform of global economic governance structure

Friday, September 28, 2012    

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NEW YORK, USA — Jamaica's Prime Minister Portia Simpson Miller says there is need for reform of the global economic governance structure, including those of the international financial institutions.

She said that such reforms are urgently required and should take into account "the need for special and differential treatment for small and vulnerable economies such as Jamaica's".

Addressing the 67th session of the United Nations General Assembly yesterday, the prime minister also called for a review of the factors used by multilateral agencies to measure a country's wealth, arguing that categorisations of middle-class status — like Jamaica — should not serve "as obstacles to delivering support to the world's poorest and most vulnerable".

She said that this was especially important since many of those in poverty are to be found in the designated middle-income countries. Against the background of the vulnerability of small economies to global shocks and natural disasters, Simpson Miller told the world body that ways must be found to assist such countries to lift themselves out of poverty.

Simpson Miller also sought to make a case for greater attention and assistance for women and children worldwide, who she said are facing exploitation because of poverty.

Turning to other global issues, she expressed Jamaica's "deep concerns" about the conflict in Syria, noting that it "poses a real threat to international peace and security". But she said that Jamaica remains convinced that the conflict can still be resolved through diplomatic and political means.

The prime minister also weighed in on the Israeli/Palestinian impasse, urging both sides to resume negotiations, as soon as possible, which will lead to an agreement that respects Israel's rights to exist within a secure border as well as ensure the aspirations of the Palestinian people for self-determination and statehood.

Simpson Miller also called for an end to "the long-standing trade and economic embargo against Cuba".

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