United Nations Radio

April 2008
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 3 April 2008

Least Developed Countries call for cancellation of external debts

Developed countries have been urged to fulfill their Overseas Development Assistance -ODA- commitment of 0.2 % of gross national income to the Least Developed Countries by 2010.

The call comes from the Foreign minister of Bangladesh Dr. Iftekhar Ahmed Chowdhury.

Speaking on behalf of the Least Developed Countries - or LDC's as they're called - during debate on the Millennium Development Goals, Dr. Chowdhury called for a cancellation of their external debts without conditions.

"The LDC's remain at the bottom of the pyramid. Promises of external resources remain elusive. Market access remains blocked. Where it is given, supply side constraints dilute it."

Foreign minister Chowdhury also called on developed countries and developing countries in a position to do so to provide duty-free and quota-free market access to all products from the least developed countries.

There are more than 40 least developed countries, most of them in Africa.

This is Donn Bobb reporting for United Nations Radio.

(duration: 54")