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World economic powers call for UN resolution on Iraq
Washington, Apr 13: World economic policymakers, trying to patch up bitter divisions over the Iraq war, have called for a new UN Security Council resolution to rebuild the war-scarred country.
Washington, Apr 13: World economic policymakers, trying to patch up bitter divisions over the Iraq war, have called for a new UN Security Council resolution to rebuild the war-scarred country.
Finance ministers and central bank chiefs yesterday sought to allay fears that the split on Iraq would spill over to the economy.
The war's aftermath overwhelmed dry economic debate at meetings of the group of seven industrialized powers, and the 184-member International Monetary Fund and World Bank. "We support a further UN Security Council resolution," IMF policymakers said. "The present situation in Iraq poses significant challenges with an urgent need to restore security, relieve human suffering and promote economic growth and poverty reduction." G7 powers -- Britain, Canada, France, Germany, Italy, Japan and the United States -- set the scene by agreeing to a UN resolution hours before the IMF gathering.
British chancellor of the exchequer Gordon Brown, chairman of the IMF's International Monetary and Financial Committee (IMFC), said the entire organization was united on the need for a UN resolution.
"This was an enormously positive step forward," he said.
Among the key issues a UN resolution would need to tackle were:
The freezing of assets. Countries around the world have locked up Iraqi assets, which can only be freed with a UN resolution.
Bureau Report
The war's aftermath overwhelmed dry economic debate at meetings of the group of seven industrialized powers, and the 184-member International Monetary Fund and World Bank. "We support a further UN Security Council resolution," IMF policymakers said. "The present situation in Iraq poses significant challenges with an urgent need to restore security, relieve human suffering and promote economic growth and poverty reduction." G7 powers -- Britain, Canada, France, Germany, Italy, Japan and the United States -- set the scene by agreeing to a UN resolution hours before the IMF gathering.
British chancellor of the exchequer Gordon Brown, chairman of the IMF's International Monetary and Financial Committee (IMFC), said the entire organization was united on the need for a UN resolution.
"This was an enormously positive step forward," he said.
Among the key issues a UN resolution would need to tackle were:
The freezing of assets. Countries around the world have locked up Iraqi assets, which can only be freed with a UN resolution.
Bureau Report