United Nations Radio

This is a time of great turmoil in global financial markets and the world economy.

That's what the UN Undersecretary-General for Economic and Social Affairs, Sha Zukang, said at this morning's flag-raising ceremony in Doha for the Follow-Up International Conference to review the Implementation of the Monterrey Consensus.

UN Radio's Donn Bobb has more from Doha where he is covering the conference:

Under Secretary-General Sha says "our vital work to eradicate poverty and promote development is threatened not only by an international credit crunch, but also by higher prices for food, energy and basic commodities, accelerating climate change, and a stalemate in global trade negotiations."

He says there is great concern that a severe economic slowdown could have a chilling effect on trade, aid, investment flows and efforts to achieve the Millennium Development Goals.

"At such time," he adds, "it is right and necessary that the international community gather under the auspices of the United Nations." And he concludes, "These are global problems, affecting all people; they demand global solutions, arrived at with the involvement of all people."

This is Donn Bobb reporting for United Nations Radio in Doha.

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