Sustainable, Inclusive Development Must Inform Economic Revival Efforts – BAN

Secretary-General Ban Ki-moon said today (Friday May 18) that efforts to revive the global economy must be based on a long-term vision of sustainable and inclusive development, stressing that the current financial difficulties make it imperative that the world seeks balanced growth for future generations.

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“If we act within a long-term vision of sustainable development, we can reduce debt burdens, we can consolidate development gains and we can generate new dynamism and growth,” Mr. Ban said in his closing <"">remarks to the General Assembly’s high-level thematic debate on The State of the World Economy and Finance and its Impact on Development.

“The current difficulties are a reason to recommit, not to shrink from it [sustainable development],” said the Secretary-General. “We will not kick-start the global economy with slash-and-burn policies.”

He also voiced his deep concern over the slow recovery of the global economy and the possibility of another worldwide recession.

“If this happens, it may be even more devastating since we have less resources and fiscal capacity to respond. Furthermore, many countries are reeling under heavy debt burdens,” Mr. Ban said. “Many face political uncertainties. If there is another global recession, many hard-won gains will be put at risk.”

The UN chief said the UN Conference on Sustainable Development (Rio+20) in Brazil next month will be an opportunity “to galvanize global support for a transformative agenda for change.”

“People are making their voices heard on the streets and in the ballot boxes. Let us listen and move forward in a sustainable and inclusive way,” he added.

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