Financial Daily from THE HINDU group of publications
Thursday, Jun 12, 2003
Financial Daily from THE HINDU group of publications Thursday, Jun 12, 2003 |
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Opinion
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Letters Evian Summit
This is with reference to "Evian Summit: Non-event of discord and casualness" (Business Line, June 11). Though the Evian Summit failed to yield expected results, its significance to the developing countries cannot be completely ruled out. The Summit communiqué has rightly emphasised the importance of improving public financial management and accountability (PFMA) to ensure that public and donor resources are used efficiently and effectively. The G-8 nations have also resolved to encourage all developing countries create — as part of their poverty reduction strategies — plans for concrete action on PFMA setting measurable and time-bound targets, and to call on the IMF and World Bank to strongly support these efforts. The G-8 nations' commitment to actively contributing to the completion of a UN Convention against Corruption and call on developing countries to implement their commitments in regional and international conventions on corruption through anti-corruption action plans will help eradication of corruption in developing nations such as India where it is rampant. C. Ramesh Keeramangalam (TN)
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