The governments of many developed countries will in effect boycott a conference the United Nations is holding in New York June 24-26 to discuss the impact of the global financial crisis on developing countries. The developed countries object to efforts by the General Assembly president—Father Miguel d’Escoto Brockmann, who was foreign minister for Nicaragua‘s leftist government in the 1980s—to have the conference discuss reforming such bodies as the World Bank and the International Monetary Fund (IMF). “You can’t have a few calling the shots and others suffering the consequences of their decisions,” D’Escoto said to the British daily Financial Times about the major powers. “If they were more frank, they should say might is right.” His one-year term ends in September. (FT, June 7)
From Weekly News Update on the Americas, June 14
