Moroccan minister calls for security council of economic and social development
Morocco, Politics, 6/27/2000

Moroccan minister of social development, solidarity, employment and vocational training, Khalid Alioua, proposed on Monday the creation of a security council for economic and social development with the mission of managing in a fair way the orientation of north-south financial flows.

The minister told the Geneva 2000 Forum, which opened Sunday in the presence of Swiss authorities and UN secretary general, such an institution is needed to correct the present imbalances where most capital flow goes to north markets.

Alioua also wondered on the efficiency of the present international organizations and institutions system in handling negative effects of globalization and in ensuring a better distribution of resources. Today, it appears that the Bretton Woods institutions fail to adapt to the new context and even the recently born World Trade Organization is taking the same path, consolidating a process that creates development inequalities.

For the Moroccan minister, a security council for economic and social development, enjoying the same powers as the UN security council, will not only enact laws but also manage, in a more equitable way, the north-south capital flow as today, more than 85% of capital flow is taking place in northern markets. He further argued that the proposed mechanism should create a guarantee fund to build investors confidence in developing countries and support a more equitable circulation of capital.

Alioua was speaking before about 400 participants in a panel, mostly non-governmental organizations, former officials, government delegates and representatives of international institutions.

The Geneva 2000 forum is held by the Swiss government to associate ngos and other civil society components in the Copenhagen "5 summit (UN extraordinary general assembly on social development held this June 26-30).

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