Bangladesh's Finance Minister AMA Muhith expressed concern that less developed countries (LDCs) received poor warning signals about the global economic crisis instigated by more developed nations.
He called for the restructuring of the global economic system and the equitable distribution of aid to LDCs. In April of this year, the G-20 allocated $50 billion for developing country aid out of a $1.1 trillion bailout package – a sum which the Minister said was not sufficient.
The Minister spoke at a four-day workshop on tackling the recession in the Asia-Pacific region co-sponsored by UNESCAP and Bangladesh Bank, which was held at the Sonargaon Hotel in Dhaka.
The workshop in Dhaka is being attended by delegates from Bangladesh, India, Pakistan, Sri Lanka, Bhutan, the Maldives, Nepal, China, Cambodia, Malaysia, Fiji, the Philippines, Korea, Russia, Thailand, Vietnam and Laos, along with representatives from the IMF, World Bank, and United Nations