Youssoufi at Monterrey economic development conference
Morocco, Economics, 3/16/2002

Moroccan Premier Abderrahmane Youssoufi will attend the International Conference on Financing for Development to be held in Monterrey, Mexico, March 18 through 22, a statement by the Prime Minister's office said.

The conference is meant to consolidate the multilateral economic and financial system to face up the rapid globalization rate, the statement said.

The global conference will ponder on various aspects of public assistance to development, the indebtedness problematic and investments.

Youssoufi will be accompanied by minister of foreign affairs and cooperation, Mohamed Benaissa, and minister of economy, finances, privatization and tourism, Fathallah Oualalou.

The conference will be a unique opportunity for countries to tackle head-on the question of resources for financing such development goals as alleviating poverty and achieving education targets, according to Louise Frechette, the United Nations Deputy Secretary-General.

The International Conference on Financing for Development will be about "mobilizing resources for development," Frechette said earlier this week as she was briefing the press at UN Headquarters about the key goals of the forum, which is expected to draw at least 50 heads of State or government and thousands of other officials and non-governmental participants.

"It will be looking at all types of resources: the internal resources that developing countries can generate themselves; and the resources that can come from trade, from foreign direct investment, from official development assistance (ODA), from debt relief," she said.

The Deputy Secretary-General noted that a consensus document adopted a few weeks ago by countries established very clear agreement on a number of points, including harmony on the general policy directions that countries have to follow to ensure that they create a receptive climate for growth and for attracting foreign direct investment.

The document is also very clear on its support for continuing trade liberalization and debt reduction, she said, adding there is further agreement on the need for increased ODA.

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