JIS News

Minister of State in the Ministry of Foreign Affairs and Foreign Trade, Senator Delano Franklyn yesterday (June 27), told delegates attending the High Level Dialogue on Financing for Development at the United Nations (UN) General Assembly in New York City, that urgent action was necessary to generate the level and quality of resources in the remaining time frame to meet the Millennium Development Goals identified at the 2002 Monterrey Consensus in Mexico.
Addressing the conference on behalf of the G-77 and China, Senator Franklyn told the high level gathering of ministers that, “the international community is far short of mobilizing the level of resources required to finance the level of development envisaged in the development meetings including the Millennium Summit”.
The Foreign Affairs State Minister cautioned that, “an unprecedented, multi-dimensional, coherent and focused thrust will be needed from these meetings,” to make up for the shortfall in a number of areas identified in the Monterrey Consensus.
Senator Franklyn who opened the session called for urgent action in such areas as: the mobilization of domestic financial resources, the identification and promotion of international trade as an external source of development financing, increasing international financing and technical cooperation for development, external debt relief and enhancing the coherence and consistency of the international financial institutions in support of development.
According to the Senator, “despite this urgent recognition and increasing meetings involving the UN, the Bretton Woods Institutions, the WTO and UNCTAD (United Nations Conference on Trade and Development), it is the case that the systems remain incoherent. Actions in one area still often times negate or constrain actions in the others”.
It was therefore necessary, he said, that there is greater coordination among international institutions and agencies dealing with development, finance, monetary and trade issues so as to promote coherence in policies with a view to making them more development-oriented.
The week-long High Level Dialogue on Financing for Development concludes this Saturday, July 2, 2005. Jamaica’s Permanent Representative to the UN, Ambassador Stafford Neil and Deputy Permanent Representative, Ambassador Byron Blake, completed the delegation at the opening session.