MESSAGE BY HIS EXCELLENCY AMBASSADOR NASSIR ABDULAZIZ AL-NASSER, PERMANENT REPRESENTATIVE OF THE STATE OF QATAR TO THE UNITED NATIONS, CHAIRMAN OF THE GROUP OF 77, TO THE SEVENTY-FIRST MEETING OF THE MINISTERS OF THE G-24 (Washington, D.C., 23 April 2004)

1 _ Thank you, Mr. Chairman, for inviting me to attend this important gathering of the G-24. At the out set allow me to congratulate you for your leadership. I would like also to congratulate the other members of the Bureau. Your able leadership manifests the total confidence of the developing countries in your ability and experience in steering and guiding the deliberations of the G-24 towards its most successful outcome.

2 _ Your meeting is taking place at a time of great uncertainty and expectations. Today, the international community is faced with multi-faceted challenge to effectively grapple with multidimensional problems facing developing countries particularly poverty. The international community has to address these issues as a matter of priority. Certainly, effective mobilization of financial resources for development as well as the creation of a conducive international environment poses the greatest challenges to the international community and to the financial institutions.

3 _ We are witnessing today the widening gap between the developed and developing countries and the continued uncertain prospects of global economic recovery and its consequences for developing countries. There is an urgent need for a concerted multilateral action to achieve the Millennium development goals. In this context, the Group of 77 reiterates its calls for the creation of an enabling international economic environment in order to support developing countries’ efforts to achieve sustained economic growth.

4 _ Eradication of poverty remains a priority goal of all of us. However, despite increased efforts to eradicate poverty, the total number of people living in poverty is increasing. The majority of the world population continue to live in extreme poverty, unable to access basic human needs such as nutrition, health, water, sanitation, education, and housing. It is the view of the Group of 77 that Bretton Woods institutions should join the UN effort in formulating a global strategy for the eradication of poverty.

5 _ The Group of 77 considers it essential that collaboration between the UN system and the Bretton Woods Institutions should be strengthened at all levels. This is even more crucial with recent developments, which began as a financial crisis but has far-reaching economic, social, humanitarian and political ramifications. We therefore support the building of a strategic partnership between the United Nations the Bretton Woods Institutions in accordance with the United Nations resolution 50/227, which calls for coordinating meetings to be held regularly.

6 _ I would like to take this opportunity to call for the full and effective participation of the developing countries in the process of decision-making and in the resolution of world economic problems through strengthening multilateralism aimed at promoting equitable growth in the world economy. We believe that the increasing globalization and liberalization of the world economy requires an equitable and effective mechanism of multilateral macroeconomic policy coordination which should enable the participation of developing countries in the economic decision-making process at the global level.

7 _ The South Summit of the G-77 held in Havana in 2000 pointed out to the inadequacies of the present economic order for achieving the goals and objectives of development and has called for meaningful reforms of the international financial system. In this context, the Group of 77 supports the position of the G-24 regarding the urgent need to bring greater openness and transparency to the selection process of the Managing Director of the International Monetary Fund (IMF) and, the issue of strengthening the architecture of the international financial system, which should therefore become an important and major focus in your deliberations.

8 _ As the Group of 77 commemorates this year the 40 th anniversary of its establishment, let me once again on behalf of the Group of 77 reiterate our support to the work of the G-24. In this context, we look forward, with anticipation, to a much higher level of cooperation, and on a more institutionalized manner. Together, we should be able to achieve our objectives for the benefit of our countries.

Thank you.