The manifestations of the globalisatoin process are increased unemployment, widespread poverty, overpowering disease, deepening ignorance because of poor education, and lack of access to such basic necessities of life as in potable water, adequate and balanced food and health facilities. This situation has made it the more difficult for our countries to tackle fundamental problems of improving life within our societies. The liberalization of financial markets has also led to increased instability in the global economy, as witnessed in the East Asian crisis and its impact on the economies in other regions. This instability reflects a significant inadequacy in the institutional structure of the existing international financial arrangements as well as the insufficiency of funds available to deal with the phenomenon of capital volatility. Yet all deliberations on the economic aspects of development and the debilitating consequences of poverty and diseases are overshadowed by the ever rising tide of conflicts, particularly in my own continent, Africa, and, I regret to say, even between member states of G-77.
Peace is the bedrock of all human development activities.
Without peace and stability, a society does not have any future to speak about. And, of course, peace is indivisible, the pains of our neighbours will invariably become our pains. We of the South have a responsibility to redouble our efforts to promote international peace and security, particularly in our own regions. In the attempt to formulate responses to these challenges, we had some stimulating brainstorming sessions. The views and proposals that emerged have illuminated our way to concrete and achievable strategies and policies.