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2005 World Summit must take bold steps toward making poverty history, says Secretary-General in address to Economic and Social Council.

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M2 PRESSWIRE-30 June 2005-UN: 2005 World Summit must take bold steps toward making poverty history, says Secretary-General in address to Economic and Social Council(C)1994-2005 M2 COMMUNICATIONS LTD

RDATE:29062005

Following is UN Secretary-General Kofi Annan's address to the High-Level Segment of the Economic and Social Council, in New York, 29 June:

It is a pleasure to have this opportunity to speak to you at such an important moment in our work for development and in our efforts to revitalize the United Nations. I would like to start with a few words about the global economy, and then offer some thoughts on the 2005 World Summit and the contribution that ECOSOC can make to that historic event.

The state of the world economy remains robust. One of the more striking aspects of the strong growth we have seen in recent years is that it is widespread among developing countries and economies in transition. Another is the resurgence of growth in sub-Saharan Africa. Many African countries are achieving annual per capita growth of 3 per cent, and are expected to reach more than 5 per cent this year.

These are promising trends. But they are not free from risks, such as higher oil prices and, especially, current global economic imbalances in the trade and fiscal areas, which could stall momentum....

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