Opinion - Letters to the Editor

Fighting poverty

Sir, — Your editorial `Aid at Monterrey' (April 3): You have rightly observed that the U.S. and E.U.'s commitment of aid to the Least Developed Countries (LDCs) had prevented the U.N. conference on financing for development from being reduced to an exercise in futility. It was because of this advance commitment that the delegations expressed their approval of the conference's resolution declared as the `Monterrey Consensus'. However, the U.N. was warned of the increasing disparity _ more so since the time globalisation and privatisation have come to be accepted as the two pillars of modernisation.

No doubt the U.N. has tried to help out the poor nations through its various committees, commissions and agencies, but the problems of poverty have multiplied in the wake of globalisation and privatisation having been accepted as the basis of economic development. The least developed countries in particular have suffered most as a result of globalisation and privatisation because they have been denied access to markets of developed countries.

Will the commitment of $ 25 billions by the U.S. and E.U. be able meet the requirements of the 50 or so LDCs is a moot point because much will depend on the conditions attached to the commitments and the manner in which this amount will be utilised.

Rai Singh,
New Delhi

Chennai

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