By Holy See Mission
Statement by H.E. Archbishop Celestino
Migliore
Apostolic Nuncio, Permanent Observer of the Holy See
International Conference on Financing
for Development
Doha, Qatar, 1 December 2008Mr. President,
Six years ago, world leaders gathered in Monterrey, Mexico to begin a new
process for addressing together the needs of the poorest amongst us. At that
time, the world was reeling from the terrorist attacks of September 11, 2001,
and the subsequent economic decline, but despite these hurdles, it still came
together to craft the Monterrey Consensus which created a new vision for a
shared future.
Today, we meet in Doha, Qatar to assess the lessons learned and to create ways
and means for realizing the vision of Monterrey. However, again we come with a
cloud hanging over our heads: the anxiety over the economic and political
consequences of an unprecedented financial crisis and the persistent devastating
presence of terrorism, as evidenced by the tragic events in Mumbai, India.
This crisis presents an enormous challenge in finding ways to address the
concerns of those most in need. At its root, the financial crisis is not a
failure of human ingenuity, rather of moral conduct. Unbridled human ingenuity
crafted the systems and means for providing highly leveraged and unsustainable
credit limits which allowed people and companies alike to pursue material excess
at the expense of long-term sustainability. Unfortunately, we are now seeing
the effects of such short-term greed and lack of prudence, and as a result those
who recently were able to rise out of extreme poverty are now likely to fall
back.
We often speak of sustainable development as an overarching principle for
developing countries. Sustainable development meets the needs of the present
without compromising the ability of future generations to meet their needs.
Likewise, sustainable financing should meet the present capital needs for
development, while ensuring the long-term preservation and increase of
resources. It is time for developed and developing countries alike to reaffirm
the principle of sustainable financial development apply it to financial markets
and thus create truly sustainable capital management. Such is the great
challenge of this Conference: nothing less than ensure, in a sustainable way,
the financing for development.
Global development is, at its heart, a question not only of technical logistics
but more fundamentally of morality. Social and economic development must be
measured and implemented with the human person at the center of all decisions.
The last six years have seen an increase in aid flows and encouraging
developments in a number of indicators and statistics. However, questions
remain: how many people don't have access to food, how many live with fear of
war and oppression, how many do not have access to even basic healthcare and how
many lack decent employment to provide a living wage for themselves and their
families? Unfortunately, the answer remains: too many. These are the questions
and concerns which must be at the heart of our strategies in order to ensure
that development is measured not only by capital gain but more importantly by
lives sustained.
Since Monterrey, we have again seen the importance for each and every country to
uphold good governance in order to provide the means for personal as well as
global development. Governmental leadership which provides for effective
financial systems, just taxation, responsible spending and good stewardship of
the environment, sets the foundation for countries upon which to build.
Transparency, the rule of law and good governance guarantee the stability and
financial certainty needed in order to provide job creation, tax revenues and
long term growth. Further, good governance, respect for human rights and social
stability assure the means for civil society actors, including faith-based
organizations, to offer the life saving and life affirming services which are
oftentimes beyond the capacities of national and local governments.
National governments need the cooperation of the international community in
order to accelerate economic and human development. Since Monterey we have seen
renewed commitment towards the target of 0.7% Gross National Income in Official
Development Assistance (ODA). However, we still remain far behind this goal and
have recently seen a slight decline in ODA. Too often developed countries state
that development assistance is too cumbersome, yet such an explanation lacks
sincerity, especially when we see the increase of military spending at levels
many times greater than development assistance. Similarly, the recent financial
crisis demonstrates that when political will is combined with concern for the
common good we are able to generate, within months, substantial funds for
financial markets which are far greater than the total amount of ODA expended
since Monterrey. Surely, it goes without saying that the same political will
and concern for the common good of the financial systems applies to the poorest
and most vulnerable.
The international community must also give greater respect for the voices of
those countries and individuals most in need of financial assistance. The
Bretton Woods institutions need to be refocused and the so called G-8 and G-20
countries must ensure that the voices of those who are in such need of
development assistance are heard and respected. A purely top down approach to
development will remain insufficient unless greater concern is given to those
whose lives and countries are at stake. The United Nations continues to serve as
a vital forum for bringing all voices together in order to foster greater global
solidarity.
Likewise, renewed
attention must be given to ensuring more just and equitable trade systems. These
days we have heard many calls for a greater commitment to implementing the
Doha-Round trade talks. However, these talks will continue to languish unless
countries express the necessary political fortitude to promote fair trade and
make the inevitable required sacrifices. Further, trade distorting subsidies,
financial speculation, increased energy prices and decreased investment in
agriculture have recently given rise to lack of access to the very thing which
is necessary for life namely – food. This economic volatility, which strikes
at the heart of human existence, gives greater urgency to finding a common
commitment to addressing global trade and development.
Mr. President,
Uncertainty and anxiety seem to prevail at this particular point in time.
However, the virtues and principles which have lead the global community out of
so many crises remain; that of solidarity with our global community, just and
equitable sharing in resources and opportunity, prudent use of the environment,
restraint from seeking short-term financial and social gain at the expense of
sustainable development, and finally, the political courage which is necessary
to build a world in which human life is placed at the center of all social and
economic activities. By embracing these fundamental principles we will help to
create a world in which social, economic and spiritual growth is accessible to
all.
Thank you Mr. President.
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