Commonwealth Secretariat
  1. Home
  2. What's New
  3. Who We Are
  4. What We Do
    1. Democracy
    2. Economics
    3. Education
    4. Gender
    5. Governance
    6. Health
    7. Human Rights
    8. Law
    9. Small States
    10. Sport
    11. Sustainability
    12. Youth
    13. Millennium Development Goals
    14. Funding
  5. News
    1. Events
    2. News Archive Search
    3. Picture Stories
  6. Media Room
    1. Press Archive Search
    2. Media Contacts
    3. Video
    4. Events
    5. In the Media
    6. Updates
    7. Downloads
  7. Resources
    1. Documents
    2. Image Library
    3. Libary & Archives
    4. Publications
  8. Publications
  9. Employment
  10. FAQs
    1. Acronyms
  11. Contact Us
Commonwealth Secretariat press release

Globalisation must reduce poverty, warns Commonwealth Secretary-General

20 September 2000

Ordinary people must be at the centre of the globalisation process, Commonwealth Secretary-General Don McKinnon said in his opening address last night in Malta to the annual Commonwealth Finance Ministers Meeting. "If they do not participate in the dialogue, they are not likely to participate in the process," he said, as he outlined the challenges faced by Commonwealth countries - and their citizens - as a result of the increasingly interdependent global economy. 

Mr McKinnon pointed out that poorer countries and their citizens must be included in discussions on global financial reform, and that they be "provided an opportunity to be represented in the decision-making processes, which have profound effects on their economies." In addition, these proposals for reform should not only encompass crisis prevention at the national and international levels, but also tackle the twin issues of liquidity and development finance for low-income countries.

Streamlining and fully funding the reinvigorated heavily indebted poor countries (HIPC) initiative must also be at the top of the international agenda, said Mr McKinnon, noting that "it is empty rhetoric to talk about poverty reduction and globalisation without making meaningful headway in strengthening and implementing the HIPC Initiative."

He stressed that greater, more effective use of new technologies could accelerate the positive effects of globalisation and ensure that they reach the widest possible audience, urging the more technologically advanced member governments to take the lead in making this a reality.

The Secretary-General concluded by warning ministers that the international community "must ensure that globalisation reduces poverty. It cannot afford to leave anyone behind because the costs, both in terms of economic development and political stability, are simply too high."

Note to Editors:

Commonwealth finance ministers are meeting in Malta from 19-21 September, prior to the annual meetings of the International Monetary Fund (IMF) and World Bank in Prague the following week. They will seek to build consensus on a number of issues including offshore financial centres, the OECD's 'harmful tax competition' initiative and measures to help small states benefit from globalisation. They will also set out to develop practical strategies to help Commonwealth members to compete effectively in the global economic arena.  

For more information about the Finance Ministers Meeting, please contact:

Mr Kaye Whiteman

The Radisson SAS Bay Point Resort

Malta

Tel:      + 356 388 370

Fax:    +356 388 369

 

Share this page
About this

ISSUED BY THE COMMUNICATIONS AND PUBLIC AFFAIRS DIVISION
Commonwealth Secretariat Marlborough House Pall Mall London SW1Y 5HX United Kingdom
Tel: +44 (0)20 7747 6385/6 Fax: +44 (0)20 7839 9081
Email: info@commonwealth.int