Ban discusses impact of global financial crisis on MDGs
UN Secretary-General Ban Ki-moon held parlays with the UN Development Programme (UNDP) chief and five other eminent economists to discuss the impact of the global financial crisis on the agency's efforts to achieve the Millennium Development Goals (MDGs).

The 90-minute meeting at UN Headquarters focused on prospects for the world economy, and how the present financial crisis will affect emerging economies and those of the least developed countries (LDCs), a UN spokesperson told journalists.

After the meeting, Nobel laureate economist Joseph Stiglitz backed Washington for expanding the scope of the meet beyond G-7 industrialised countries to include developing nations especially India, China and Brazil but said the venue was wrong.

Talking to mediapersons, Stiglitz, who won Nobel Prize in 2001 and is now Columbia University professor, said it would have been better if meeting was organised at the UN headquarters so that voices of all countries can be heard as all 192-member States had been affected by the financial crisis.

Ban who has been invited to the Nov 15 Summit will have to represent the views of developing nations who would not be there, ?Stiglitz said. Stiglitz has been appointed by the president of the UN General Assembly Miguel D'Escoto Brockmann to chair a high-level task force to review the global financial system.

The task force is expected to recommend, among other things, how to reform the international financial institutions to enable them to meet the challenges of the current century.?