November 14, 2008	Friday	Ziqa'ad 15, 1429

UNITED NATIONS, Nov 13: UN Secretary-General Ban Ki-moon made an impassioned appeal on Thursday to leaders meeting at a financial summit in Washington on Friday not to let the global crisis become a “human tragedy” for people in poor countries.

“The poorest and most vulnerable everywhere, but particularly in the developing countries, will be the most affected” by the world growth slowdown now being predicted, he said in a letter released by the United Nations on Thursday.

“We need most of all to join forces to take immediate action to prevent the financial crisis from becoming a human tragedy” Mr Ban added.

He warned that throwing hundreds of millions of people out of work could have major political and security implications.

Mr Ban said he would try to speak for the more than 170 countries that will not be represented there.

“If hundreds of millions of people lose their livelihoods and their hopes for the future are dashed because of a crisis they have absolutely no responsibility for, the human crisis will not remain just economic,” the UN chief said.

“It will assume new and difficult political and security dimensions that could overwhelm the ones we are already facing.”

Mr Ban urged the meeting to “show solidarity towards the neediest” and called upon wealthy countries to maintain aid commitments they had made before the global credit crisis ignited by a US mortgage crunch struck in September.

Institutional reforms could not be restricted to financial sector regulation and also must deal with broader challenges such as climate change, conflict prevention and eradication of poverty.

Investing in new technologies and “green jobs” to combat climate change would both fight the short-term crisis and lay the foundation for long-term growth, said Mr Ban, who has made the environment a bulwark of his policy. He also called upon countries to resist protectionism and quickly resolve issues holding up the Doha trade round.