ARCHBISHOP MIGLIORE SPEAKS ON DEVELOPMENT FINANCING

VATICAN CITY, OCT 11, 2006 (VIS) - Archbishop Celestino Migliore, Holy See permanent observer to the United Nations in New York, yesterday pronounced a talk before the second committee of the 61st session of the UN General Assembly, which is considering: "Follow-up to and implementation of the outcome of the International Conference on Financing for Development."

  In his English-language address, the apostolic nuncio highlighted the need to help developing countries because "foreign direct investment is unlikely to be significant, primarily because it is not meant to resolve problems of poverty and development as such," although "it may help do so if properly regulated."

  He went on: "The Poverty Reduction Strategy Papers, prepared by developing country governments through participatory processes, have an important role in this process since they could provide an appropriate framework for defining national development strategies.

  "External debt, which has crippled many economies for decades, also remains a concern although several useful initiatives are making inroads into the problem. The G8 proposal of July 2006 that the International Monetary Fund, the International Development Association and the African Development Fund cancel 100 percent of their claims over the poorest countries, most of them in Africa, is a welcome addition to the other initiatives in this regard."
DELSS/DEVELOPING COUNTRIES/UN:MIGLIORE            VIS 20061011 (220)