Dhaka, Bangladesh (BBN) – Developing and the least developed countries (LDCs) have been hit hard by the global financial crisis even though it originated in the developed countries, Bangladesh’s foreign minister has said.

“The vast majority of the world’s poor in the LDCs had extremely limited or little financial capacity and institutional arrangement to cope with the crisis,” Foreign Minister Dr Dipu Moni told the ‘UN Conference on the World
Financial and Economic Crisis and Its Impact on Development’ in New
York on Wednesday, according to a message received in the capital, Dhaka on Thursday.

Dr Dipu Moni led the Bangladesh delegation as the coordinator of the LDCs.

“The crisis is affecting global trading system, global finance, and most importantly development aspirations of the developing countries particularly with regard to their achievement of the Millennium Development Goals (MDGs),” she added.

The foreign minister has urged the international community to take immediate, collective and forceful actions at all levels to tackle the ongoing global financial crisis.

She put forward some suggestions on behalf of the LDCs to protect the interests of the LDCs in the face of the financial downswing, and demanded that the LDCs representation in the G-20 Summit be ensured.

The three-day conference, being participated by all countries of the world, ends on Friday.

BBN/SS/SI/AD-26June09-2:26 am (BST)