UN PLANS NOV. 4 CONFERENCE ON THE FINANCIAL CRISIS

UNCLAS USUN NEW YORK 000929 SENSITIVE SIPDIS E.O. 12958: N/A TAGS: EFIN SUBJECT: UN PLANS NOV. 4 CONFERENCE ON THE FINANCIAL CRISIS REF: USUN 911 ¶1. (SBU) UN Secretary-General Ban told Ambassador Khalilzad Oct. 10 the General Assembly and the Economic and Social Council will meet jointly Nov. 4 to discuss the current financial crisis. Ban said the heads of the international financial institutions and high-level representatives of the UN Member States will be invited to attend. The purpose would be to share their assessments of the crisis, recommendations for dealing with it comprehensively, and best practices. Ban said he did not expect a formal outcome. Earlier on Oct. 10, General Assembly President Miguel d'Escoto's spokesman said at the UN's noon press briefing the PGA envisions an interactive event focusing on how to help the weak and the poor to achieve the Millennium Development Goals (MDGs). ¶2. (SBU) Comment: Most speakers in the general debate last month called for collective action to address the financial crisis, saying they fear it will exacerbate the food and energy crises and imperil progress toward achieving the MDGs (reftel). Some, particularly from Latin America, singled out the United States for criticism and we anticipate a heated debate on Nov. 4. We should be prepared to make a strong statement and to respond to such criticism. Khalilzad