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IPU Assembly adopts resolution on financial crisis

ADDIS ABABA (Xinhua) — The Inter-Parliamentary Union (IPU) concluded its 120th Assembly here on Friday, adopting resolutions on mitigating effects of the global financial crisis and on boosting its role in issues of freedom of expression, climate change, peace and global security.

More than 1,000 legislators from around the world attended the Addis Ababa meeting to discuss political, economic and social situation in the world under the overall theme of “Parliaments: Building Peace, Democracy and Development in times of crisis”.

Delegates agreed in a resolution that parliaments should play an important role in mitigating the social and political impact of the international economic and financial crisis on the most vulnerable sectors of the global community, especially in Africa.

The document said the global financial crisis has its origins in developed countries, and its solution requires a broad international dialogue with the active participation of all countries under UN auspices to facilitate the thorough reconstruction of the global financial architecture, including the setting up of early warning systems.

Delegates agreed that the crisis necessitates the redesign of current development models to place the value of human life at the center of their concerns.

They voiced support to the communique issued at the G20 London Summit, in which the G20 leaders pledged to take measures to restore confidence, repair the financial system, promote global trade and investment, and build an inclusive, green and sustainable recovery.

According to the IPU resolution, some of the most vulnerable sectors of society are located in Africa, home to more than 920 million people, 60 percent of whom are aged under 25. About two fifths of this population live on less than one U.S. dollar a day. It called for special attention to these countries in times of the crisis.

The document said the greatest challenge facing the world today is poverty eradication and this challenge is all the greater as a result of the ongoing economic and financial crisis.

It expected a global recovery to be delayed until 2010 even if countries adopt the correct policies to fight the recession. While most low-income countries escaped the early phases of the crisis, they are now being hit hard, it warned.

The IPU resolution underlined the importance of parliaments’ role, its cooperation with national governments in trying to reduce the negative impacts of the global crisis on the world’s most vulnerable, and in achieving the development goals set by the international community.

The IPU Assembly also adopted resolutions on freedom of expression, sharing of information, climate change, sustainable development models, renewable energies, peace and international security.

Other issues discussed during the April 5-10 meeting include gender equality, human trafficking, the protection of adolescent girls and nuclear non-proliferation.

Established in 1889, the IPU is the international organization of parliaments of sovereign States. The union, which is the focal point for world-wide parliamentary dialogue, works for peace and cooperation among peoples and for the establishment of democracy.

With over 150 members, the IPU’s main areas of activities include representative democracy, international peace and security, sustainable development, human rights and humanitarian law, women in politics, as well as education, science and culture.

The international body holds two Assemblies a year. The 121st IPU Assembly will be held in Geneva, Switzerland, in October 2009.

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