United Nations Radio

Describing the current economic uncertainty as a global tsunami that has wiped away economic gains on islands from Manhattan to the Philippines, President Gloria Arroyo addressed the UN General Assembly.

She said the Philippines had weathered global price shocks on food and fuel only to find itself hit by the financial crisis of the past few weeks.

"Just when we thought the worst had passed, the light at the end of the tunnel became an oncoming train, hurtling forward with new shocks to the global financial system."

President Arroyo praised the Secretary-General for organizing this year's agenda around the impact of the global economy on the poor. And she said the world needs a strong UN, as never before, and rigorous international cooperation.

Reporting for UN Radio, I'm Bissera Kostova.

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