MichiganRadio

Under Developed Countries Want Bailout UNITED NATIONS (Associated Press) - Developing nations are urging the industrialized world to acknowledge its responsibility for the global economic and climate crises and to compensate them for the damages these have caused.

Yemeni Foreign Minister Abu-Bakr al-Qirbi, who chairs the Group of 77 that represents 132 developing counties, says the U.N. Millennium Development Goals which call for cutting extreme poverty in half by 2015 likely cannot be achieved without such assistance.

Al-Qirbi told the U.N. General Assembly Friday that the developing countries did not cause the global economic crisis, but have been seriously impacted by their consequences. He attributed this to the collapse of trade, the drop in commodity prices, cuts in development aid and a reduction in foreign investment
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