United Nations Radio

The fragile global economic situation in developed countries combined with global imbalances and soaring oil and other commodity prices are slowing global economic growth.

This, assessment was made by United Nations Secretary-General Ban Ki-moon in a message to the high level segment of the Economic and Social Council (ECOSOC) which opened in New York on Monday.

The message, delivered by Sha Zukang, the head of Economic and Social Affairs, says this economic slowdown is one of the challenges facing the United Nations as this critical juncture in the implementation of its development agenda.

"Second, rising food and energy prices are hitting hard on the livelihoods of poor and vulnerable people. Progress so far towards our developmental goals could easily be reversed if we do not find workable solutions to the twin crises in food and energy markets. Third, we are facing the profound threat of climate change and the deterioration of our natural environment."

The Secretary-General said that the fourth challenge facing the international community is the continuing skepticism about globalization which is seen as leaving behind the vulnerable and poorest communities.

Diane Bailey, United Nations Radio.

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