Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Search of Air Algerie crash site continues

Read more

MEDIAWATCH

Sarkozy, Hollande and the scooter wars

Read more

MEDIAWATCH

Confusion online over Air Algérie flight

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

REPORTERS

Halal tourism on the rise

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

FRANCE IN FOCUS

WWI Centenary: the battle for Verdun

Read more

THE BUSINESS INTERVIEW

When big companies want to do good

Read more

  • In pictures: Debris and devastation at Air Algérie Flight AH5017 crash scene

    Read more

  • Kerry heads to Paris for new round of Gaza peace talks

    Read more

  • Video: No investigation apparent at site of downed Malaysian plane

    Read more

  • Washington Post correspondent and his wife arrested in Iran

    Read more

  • Paris bans new Gaza protest scheduled for Saturday

    Read more

  • Tour de France fans bring the ambience to the Pyrenees

    Read more

  • French families grieve for Algerian plane crash victims

    Read more

  • Protest against Gaza offensive turns deadly in West Bank

    Read more

  • Halal tourism on the rise

    Read more

  • LA Times wipes France off the map in air crash infographic

    Read more

  • Lithuania’s Navardauskas wins 19th stage of Tour de France

    Read more

  • French lawyer files complaint against Israel at ICC

    Read more

  • Ukraine names acting PM after Yatseniuk's shock resignation

    Read more

  • BNP to pay $80 million for defrauding Dept of Agriculture

    Read more

  • Deadly strike on UN shelter in Gaza Strip

    Read more

  • Pope meets Christian woman sentenced to death in Sudan

    Read more

Ibero-America summit to tackle crisis

Text by AFP

Latest update : 2008-10-31

The twenty-two countries of Spain, Portugal and Latin America met Thursday to find common ground in responding to the financial crisis, and to present a joint statement to the G20 in Washington on November 15.

Leaders from Spain, Portugal and Latin America sought a joint response to the financial crisis at a summit here Thursday, despite their divided ideological views of the world.
  
The president of host El Salvador, Elias Antonio Saca, said he hoped the heads of state and government from 22 countries would prepare a "negotiation letter with the entire world" during the 18th Ibero-American Summit.
  
 The leaders plan to present a joint statement at a meeting of the Group of Twenty (G20) leaders on the global financial crisis in Washington on November 15.
  
 They agreed Thursday on a joint document aimed at fighting poverty among young people, the main theme of the summit before the crisis took over.
  
The declaration called for guarantees of education and health services, decent work and food security, and cooperation between private and public sectors.
  
But the financial crisis dominated discussions.
  
While conservatives, like Mexican President Felipe Calderon, called for "large flows of external investment" to help the region ride the crisis, leftists including Bolivian President Evo Morales attacked the capitalist system.
  
"What they call financial problems are more like problems of capitalism. Some say we have to save capitalism, but capitalism will never solve humanity's problems," Morales said.
  
Moderate leftist Chilean President Michele Bachelet meanwhile called for a reform of world financial organizations, including the participation of emerging and developing countries.
  
"We want our voices to be heard," Bachelet said.
  
Several years of sustained economic growth, of an average of between five and six percent annually, has prepared the region better than in the past to confront economic woes, analysts say.
  
But fears of a financial squeeze were widespread.
  
Business leaders warned that the crisis could affect financing for key regional infrastructure projects, including roads across the continent from the Atlantic to the Pacific, and tunnel projects in the Andes.
  
The UN Economic Commission for Latin America and the Caribbean (ECLAC) this week warned that the region would suffer a drop in investments, remittances and demand for its raw material exports.
  
It also revised down its regional growth prediction from four percent to no more than three percent.
  
Notable absentees from the meeting include Cuban President Raul Castro and his Venezuelan counterpart Hugo Chavez, who pulled out citing fears for his personal safety in El Salvador.
  
Spain's King Juan Carlos famously told the Venezuelan leader to "shut up" as last year's Ibero-American summit drew to a close in Santiago, Chile.

Date created : 2008-10-31

COMMENT(S)