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April 13, 2000



IMF be abolished: Castro

Dawn Internet Edition, April 13, 2000

HAVANA, April 12: Cuban President Fidel Castro said the IMF should be abolished and Nuremberg-style trials should be held, in a speech at the opening of the G-77 presidential summit here Wednesday that contrasted sharply with the conciliatory tone set by other leaders.

"Another Nuremberg is required to put to trial the economic order imposed on us," Castro said, referring to the trials held after World War II in Nuremberg, Germany, to judge Nazi war criminals.

Current global economic system "is killing of hunger and preventable or curable diseases more men, women and children every three years than all those killed by World War II in six years. It is high time for the Third World to strongly demand the removal of (the International Monetary Fund), which neither provides stability to the world economy nor delivers preventive funds to help debtors avoid their liquidity crises; it rather protects and rescues creditors," Castro said.

Near the end of his speech, Castro combined criticism of the Group of 77 with a call to arms. "As for the Group of 77, this is not the time for begging from the developed countries or for submission, defeatism or interenecine divisions. This is the time to rescue back our fighting spirit, our unity and cohesion in defending our demands."

Far less strident were the opening speeches by Nigerian President Olusegun Obasanjo, UN Secretary General Kofi Annan, and South African President Thabo Mbeki, who also heads the Non-Aligned Movement.

Obasanjo did criticize northern nations for "reneging" on promises of economic aid and debt relief, but called on poor countries to "engage the countries of the North to work together with us." "We must resuscitate the dialogue between the North and the South," he said.

Obasanjo said that the G-77 was sending a "clear message from Havana to the developed countries" that their "reluctance to reform the international financial system ... is a major threat to international peace and security."

United Nations Secretary General Kofi Annan, meanwhile, had praise for Cuba, noting that according to UN figures "Cuba consistently ranks above other countries" with higher economic indicators, "especially in the area of public health.In this area our host has set an example from which we could all learn," Annan said. Annan noted that "governments alone will not make (economic) change happen. We have to engage the power of private investment."

In Mbeki's speech, the South African leader called for foreign debt alleviation, noting ironically that, while many developed nations rushed to help Mozambique recover from its recent floods, they failed to do "the most obvious thing" to help, which would have been to cancel their debt.

Of the 135 member nations of the G-77, 110 sent delegations to the summit, the G-77's largest since its founding in 1964. Among the delegations were 42 presidents and heads of state.-AFP

© The DAWN Group of Newspapers, 2000

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