Reuters reports that, "A United Nations meeting on the global economic crisis adopted proposals on Friday for reforming the world financial system..."
OVER 140 COUNTRIES APPROVE RESOLUTION
"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."
"The final resolution was watered down from an earlier version prepared by U.N. General Assembly President Miguel D'Escoto, a leftist former foreign minister of Nicaragua, that Western delegations said was too radical."
"Among other things, the draft calls for increased representation of developing countries and better gender balance at the IMF and World Bank. The resolution says some countries have called for a 'more efficient reserve system' and urges further study of the possibility of replacing the U.S. dollar with the IMF's Special Drawing Rights as the top reserve unit."
"The United States said the world body had no authority to order changes."