New model needed for economic growth, says Ban Ki-moon

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State of the World Economy and Finance in 2012 discussed at the UN

A new model for dynamic economic growth that creates jobs and fights poverty is needed, according to UN Secretary-General Ban Ki-moon.

Mr. Ban spoke in the General Assembly on Thursday during a debate on the "State of the World Economy and Finance and its Impact on Development" attended by government leaders.

He said the old model of growth is broken and there is a need for growth that is equitable and that will benefit future generations.

"Every day, we read about the ongoing crisis in the eurozone. Elsewhere, people speak of "recovery" – but it is a largely jobless recovery. Since the financial and economic crisis began, 200 million people have lost jobs and income. In too many places, poverty and inequality are on the rise. Hard-won development gains are under threat."

Duration: 25"

Mr. Ban said the UN Conference on Sustainable Development in Rio de Janeiro next month is an opportunity to establish what he called "a new paradigm" for growth, building on what works and discarding what doesn't.

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