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Saturday, March 6, 2010

Special Report by WFUNA: The Impact of the Global Economic and Financial Crises

The Human Rights Council held its panel discussion on the economic and financial crises. Ms. Pillay Navanethem commended the HRC for its initiatives to highlight the impact of the impact of the crises on human rights.

A year ago, the Council held its 10th Special Session on the financial crisis. Today, there is a hope that the global economy is continuing its recovery. But, the impact of the financial crisis on human rights is yet to be estimated. Unfortunately the unemployment rate is still growing and the number of people living in poverty will continue to increase.

Appalling statistics have caused the international community to look for a solution. The Council needs to address how it can prevent social stratification and protect the poor and marginalized, providing them with access to basic services and resources and should. Moreover, following the discourse of Francisco Santos Calderon, Vice-President of Colombia, countries are encouraged to avoid protectionism and should open their markets in order to promote economic growth.

Member States contributing to the discussion mentioned that full employment is not possible without providing the merited social security, which should become the absolute priority of any national policy. All countries agreed that the UN should target employment for all. In addition, the speakers of the panel agreed that the total expenses cannot be decreased by slashing social aid. Read more here.


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