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India seeks overhaul of global financial system

Monday, 14 April 2008, 22:46 Hrs
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Turning to issues of climate change, Chidambaram said, while it's an over-arching global phenomenon, which impacts every one, it does not change the primary developmental objective of the Bank - 'A World Free of Poverty'.

"No model for addressing climate change would be acceptable, in which some countries continue to maintain high carbon emissions while the development options available for other countries get constrained," he said.

The global compact for addressing climate change has to be based on the well- established principle of common but differentiated responsibility articulated in the UN Framework Convention on Climate Change, Chidambaram said.

Expressing concern at lack of progress on the Millennium Development Goals (MDGs), a set of eight globally agreed goal with a target date of 2015, related to maternal and child mortality is disturbing, Chidambaram said: "Good governance and an effective delivery mechanism could ensure an improved performance across MDGs."
Source: IANS
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