LDCs should have seat at Global Economic Summits: Iftekhar

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Foreign Adviser Iftekhar Ahmed Chowdhury said Sunday that representative of the 50 Least Developed Countries (LDCs) of the world should also have a seat in future global economic summits, reports UNB.
"There is a huge chunk of people from LDCs, who are being left out. Their impediments to development are structural, and unless these are removed by consultations among top global leadership, millions of the world's poorest will continue to suffer," he said, while talking to the media at the Foreign Ministry in the afternoon.
But the Foreign Adviser welcomed the inclusion of developing countries like Brazil, China and India in G-20 that met recently in Washington, DC to address the current global economic crisis.
Iftekhar said: "What you really need to address the issues is ideas, and ideas are not a monopoly of the wealthy nations. In fact, thoughts and concepts like micro-credit and non-formal education emanating from Bangladesh are really changing the world."
He urged the global leaders to take note of this fact.
Referring to the current global economic crisis, the Adviser said Bangladesh has largely managed to escape its worst effects so far. "This is because our banking system is indeed better regulated with adequate capital-asset ratio, and our real economy is engaged in sectors that are so far insulated," he added.