A/RES/55/186
information to the General Assembly at its fifty-sixth session on the analysis it has
undertaken of international financial stability as a global public good; 5
8.
Emphasizes, in this regard, the need to continue national, regional and
international efforts to promote international financial stability and, to this end, to
improve surveillance, early warning, prevention and response capabilities for
dealing with the emergence and spread of financial crises in a timely manner, taking
a comprehensive and long-term perspective while remaining responsive to the
challenges of development and the protection of the most vulnerable countries and
social groups;
9.
Stresses the importance of strong domestic institutions to promote
financial stability for the achievement of growth and development, inter alia,
through sound macroeconomic policies and policies aimed at strengthening the
regulatory systems of the financial and banking sectors, including considering
arrangements in destination and source countries to reduce the risks of excessive
international financial volatility and measures to ensure orderly, gradual and wellsequenced capital-account liberalization processes, and invites in this connection all
relevant international institutions to continue to provide, upon the request of
concerned countries, policy advice and technical assistance so as to strengthen their
capacity in the above-mentioned areas;
10. Emphasizes the importance of deepening the convergence of the efforts
of all international institutions able to contribute to the strengthening of an
international financial architecture responsive to the priorities of growth and
development, especially in developing countries, and to the promotion of economic
and social equity;
11. Reiterates the need for broadening and strengthening the participation of
developing countries in the international economic decision-making process;
12. Emphasizes the importance of the improved participation of developing
countries in the work of the international institutions dealing with the reform of the
international financial architecture, in particular the International Monetary Fund, as
well as in relevant norm-setting processes;
13. Expresses the need for multilateral surveillance by the International
Monetary Fund and regional and subregional institutions of all countries in a
symmetrical manner;
14. Emphasizes that the international financial institutions, in providing
policy advice and supporting adjustment programmes, should ensure that they are
sensitive to the specific circumstances and implementing capacities of concerned
countries and to the special needs of developing countries and should work towards
the best possible outcomes in terms of growth and development, inter alia, through
gender-sensitive employment and poverty eradication policies and strategies, and
stresses the importance of national ownership of programmes supported by the
International Monetary Fund for their sustained implementation;
15. Encourages the continuing efforts undertaken by the Bretton Woods
institutions, the regional development banks and the International Labour
Organization to help Governments to address the social consequences of crisis, and
5
See Global public goods: international cooperation in the 21st century, edited by Inge Kaul, Isabelle
Grunberg and Marc A. Stern, published for the United Nations Development Programme by Oxford
University Press, New York, 1999.
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