More is needed to ensure global economy is sustainable: Kaur | business | Hindustan Times
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More is needed to ensure global economy is sustainable: Kaur

business Updated: Jul 03, 2010 12:24 IST

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Minister of State for External Affairs, Preneet Kaur on Friday told the UN that shoots of economic recovery could be easily upset by the Euro-zone crisis and that it was important to ensure that global economic recovery is durable, balanced and sustainable.

" ...the shoots of recovery that we are seeing can easily be upset by shocks and fluctuations as the Euro-zone
crisis has shown. In such circumstances, it is important that we ensure that global economic recovery is durable, balanced and sustainable," Kaur said.

Kaur who was speaking at the 2010 Substantive Session of the Economic and Social Council of the United Nations, said ensuring stable global economy was also critical for achieving the UN's Minimum Development Goals (MDG) in the coming five years.

The UN MDG targets include reduction in income poverty, hunger, maternal and child mortality, disease, inadequate
shelter, gender inequality, environmental degradation and the Global Partnership for Development.

She said India had a strong interest in the wellbeing of the world economy to pursue growth and bring the fruits of
development to all sections of the society before exhorting UN to address medium and long-term structural issues of global governance.

"The reforms at the Bretton Woods Institutions need to be urgently completed. And, at the UN the Security Council
must reflect contemporary realities and expand in both permanent and non-permanent categories," Kaur said.