|
|
UPDATED:
26
NOVEMBER 2008 |
|
PGMA appeals
to rich countries to help poor nations amid global financial turmoil |
|
|
LIMA, Peru (via PLDT) – President Gloria Macapagal-Arroyo has
welcomed any bailout package that rich nations may extend to help developing
economies address the problems posed by the global financial debacle.
The President issued her call for help of the advanced economies in her
speech after she was conferred an honorary doctorate degree, honoris causa,
by the Universidad San Ignacio de Loyola here.
"We called on the countries of G-20 to include the developing economies in
the brave action of extending help that they intend to take to abate the
problem in the global financial order," the President said in Spanish.
Although the Philippines has not been severely affected by the global
financial crisis, it faces serious threats brought about by the global
economic uncertainties.
“We don't have crisis in the Philippines. But there are serious threats
before us. During these times, it is the obligation of governments to
assuage their people vis-a-vis the fear of prices and economic difficulties
brought about by the world crisis,” she stressed.
She added that the recession now being experienced by countries could be
avoided by optimizing economic stimulus packages for economic recovery.
At the conclusion of the Asia-Pacific Economic Cooperation (APEC) Leaders
Summit here, the President and 20 other APEC leaders also called for the
conclusion of the stalled Doha Round of talks of the World Trade
Organization (WTO).
(full story)
|
|
|
|
|
