A/RES/55/186
welcomes, in this regard, the commitments made by the General Assembly at its
twenty-fourth special session on the implementation of the outcome of the World
Summit for Social Development, to ensure that, when structural adjustment
programmes are agreed to, they include social development goals, in particular those
of eradicating poverty, promoting full and productive employment and enhancing
social integration;
16. Emphasizes that the international financial institutions should, when
invited by national Governments, provide assistance and advice, as appropriate, to
the countries in their efforts to promote development and reduce poverty through
national programmes, including, where relevant, nationally owned and developed
poverty reduction strategy papers that integrate macroeconomic, structural and
social policies;
17. Underlines the continuing importance of providing the international
institutions, in particular the International Monetary Fund, with adequate resources
to provide emergency financing in a timely and accessible manner to countries
affected by financial crises, and notes the regional and subregional efforts to
facilitate emergency financing in time of crisis;
18. Welcomes the progress made in developing early warning capacities to
address in a timely manner the threat of financial crisis, and in this regard
encourages the International Monetary Fund and other relevant international and
regional institutions to continue their efforts to contribute to this process;
19. Calls upon the international community, in particular the World Bank and
the regional development banks, and other relevant international and regional
institutions, including the regional commissions, working with the private sector, to
support the promotion of long-term private financial flows, especially foreign direct
investments, inter alia, through enhanced technical cooperation, to all developing
countries as well as economies in transition, in particular the least developed
countries and other developing countries with special difficulties in attracting
private financial flows, including those in Africa, as well as the small island
developing countries, and, in this context, requests the United Nations Conference
on Trade and Development to provide information to the General Assembly at its
fifty-sixth session on the work it has undertaken on this matter;
20. Reiterates its invitation to the International Monetary Fund to facilitate
the dialogue among relevant actors to consider the possibility of establishing
regulatory frameworks for short-term capital flows and trade in currencies;
21. Emphasizes that it is important for sovereign risk assessments made by
private sector agencies to be based on objective and transparent parameters;
22. Reaffirms the need to consider appropriate frameworks for the
involvement of the private sector in the prevention and resolution of financial crises,
including the need to implement and further refine the framework laid down by the
International Monetary and Financial Committee at its meeting held on 16 April
2000, and underlines the importance of an equitable distribution of the cost of
adjustments between the public and private sectors and among debtors, creditors and
investors, concerning, inter alia, highly leveraged operations, as well as the
consideration, in exceptional cases, of debt standstill arrangements;
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