At the General Assembly's session on economics, the under-developed nations have continued to press for more realistic co-operation from the developed countries.
SV INTERIOR Chairman of Zambia's Economics and finance Committee Wesley P. Nyirenda speaking in English
SV Minister of Finance for Somalia Andillahi Addow speaking in English
NYIRENDA: "Allow me, Mr. President to add one more tale to the many that have been made in respect to political commitments, on the part of developed countries. Mr. President, more than at any other point in its history, the world today, is truly one world. Implied in that (indistinct) conjunction of events, is the fact that it can no longer survive or perish, except as one. The days when a Julius Caesar could be prosperous only at the expense of England, are gone. The modern Caesar can only prosper, it England also prospers."
ADDOW: "Somalia's economic situation has deteriorated sharply in the last few years. External economic shocks, such as the sharp increases in the princes of our imports, the erosion of our export earning capacity, and consequently a large deficit in our balance of payments,have made it impossible for us to go forward with development plans from our own resources. In addition, we are faced with massive problems as a result of accepting the refugee influx of almost one-quarter of our normal population. I think it's evident that we cannot carry these heavy burdens without substantial international assistance. Mr. President, some versions of the current world economic situation should like a steady and optimistic record of progress. We in the developing world know that our efforts reassemble those of a man who tries to ascend and escalator one step at a time, while the escalator descends at the rate of two steps at a time."
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Background: At the General Assembly's session on economics, the under-developed nations have continued to press for more realistic co-operation from the developed countries. In the world recession, the poorer nations are feeling the burnt severely, seeing their export surpluses crumble as prices of imports rise, forcing postponement of development plans. Zambia's Chairman of Economic and Financial Planning Wesley P. Nyirenda warned on Friday (29 August) that exploitation was no longer viable in today's world.
SYNOPSIS: Somalia's Finance Minister Andillahi Addow spelled out his country's heavy burdens.