UPDATE 1-UN meeting adopts finance reform call, US critical

Fri Jun 26, 2009 10:11pm BST
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* U.N. lacks authority, expertise in global finance - U.S.

* NGOs criticize finance reform proposals as toothless

* Less than a dozen world leaders attended the conference (Recasts with adoption; adds U.S., Brazil, Venezuela)

By Louis Charbonneau

UNITED NATIONS, June 26 (Reuters) - A United Nations meeting on the global economic crisis adopted proposals on Friday for reforming the world financial system, but the United States said the world body had no authority to order changes.

After months of negotiations, over 140 members of the U.N. General Assembly approved by consensus a 15-page resolution that is short on specifics but includes a call for increased U.N. involvement in global economic policy-making.

"Today, we have set forth our global consensus on the responses to this crisis, prioritized required actions and defined a clear role for the United Nations," it said.

"We are doing so in the interest of all nations in order to achieve a more inclusive, equitable, balanced, development-oriented and sustainable economic development to help overcome poverty and inequality," the resolution said.

As expected, a member of the U.S. delegation read a statement distancing the United States from parts of the resolution, including provisions on reforming financial bodies like the International Monetary Fund and the World Bank.  Continued...

 
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