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Economic conditions

Philippine President Gloria Macapagal-Arroyo Calls for Collective Action at the UN

Strategic Insights

— 1 min read

At the 2005 World Summit-High Level Plenary Meeting of the 60th Session of the UN General Assembly, Philippine President Gloria Macapagal-Arroyo urged the international community to address four pressing global challenges: poverty, terrorism, debt, and soaring oil prices. She proposed a 50% conversion of debt for the Millennium Development Goals anti-poverty financing programs, suggesting that the debt service on principal amount be converted into equities of new projects with potential earnings. The President also called for collective action to mitigate the impact of oil prices on medium and poor oil-importing nations, and proposed the development of alternative and renewable energy sources.

Key Takeaways:

  • The President identified poverty, terrorism, debt, and soaring oil prices as the four great challenges facing the world.
  • She proposed a 50% conversion of debt for the Millennium Development Goals anti-poverty financing programs, converting debt service into equities of new projects with potential earnings.
  • The President called for collective action to develop alternative and renewable energy sources, such as wind, solar, and ethanol, to mitigate the impact of oil prices.
  • She suggested that the Organization of Petroleum Exporting Countries (OPEC) recycle petrodollars and extraordinary profits from the oil trade in the form of equity investments and low-interest loans to medium and poor oil-importing states.
  • The President emphasized the importance of interfaith dialogue as a serious alternative approach to conflict.
  • She asked the UN and donor countries to redirect their assistance on reproductive health to improve family productivity and income, citing a study by the Population Council of New York that showed artificial contraception contributes only 2% to the decline of birth rates.

Statistics:

  • 50%: The proposed conversion of debt for the Millennium Development Goals anti-poverty financing programs.
  • 20%: The amount of sperm that has to die out before reproductive health is similar to modern conditions (>5%);
  • 98%: The contribution of urbanization and breastfeeding to the decline of birth rates, according to a study by the Population Council of New York.
  • Less than 1 dollar a day: The income of many middle income countries with large populations surviving on less than a dollar a day.

Sources:

  • (PNA) 16-09 1750: Asia Pulse

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