com leaders

Accelerating World Bank, IMF and UN reforms and their effective implementation was a key intention outlined by Commonwealth leaders after talks on the reform of international institutions in London At a mini-summit on 9 and 10 June 2008, Heads of Government conveyed their intention to redefine the purposes and governance of Bretton Woods institutions. They pledged to work towards a Commonwealth consensus and wider international support for an international conference to achieve these goals.

British Prime Minister Gordon Brown identified food shortages, fuel price rises and the credit crunch as key challenges currently facing the global society, which require effective responses from international institutions.
“These problems need global action and a coordinated global response,” said Mr Brown, who chaired the meeting, adding that “we cannot deal with these challenges without reform [of these global institutions].”

This mini summit was the first step in implementing the decision of the November 2007 Commonwealth Heads of Government Meeting, at which leaders decided to establish a small representative group from their 53-member association, to undertake lobbying and advocacy for the reform of international institutions.
The meeting focused on practical steps which Commonwealth member states can take to achieve the reform and coherence of global institutions. They looked at international financial institutions, global environmental governance, and the UN system.
In their final statement, leaders said that global institutions must enjoy legitimacy from their member countries and the international community. They must also be responsive, with the interests of all members, especially the smaller and poorer, being taken into account.

“Institutions must have clear responsibilities and the conduct of their business must be transparent and accountable to the entire membership and the wider public,” Heads of Government stated.

The following leaders were present over the two day mini-summit: President Bharrat Jagdeo (Guyana), President Maumoon Gayoom (Maldives), Prime Minister Dr Navinchandra Ramgoolam (Mauritius), President Mahinda Rajapaksa (Sri Lanka), President Jakaya Kikwete (United Republic of Tanzania), Prime Minister Dr Feleti Sevele (Tonga), Prime Minister Patrick Manning (Trinidad and Tobago), President Yoweri Museveni (Uganda) and Prime Minister Gordon Brown (United Kingdom). Deputy Prime Minister Najib Tun Razak will represent Malaysia and Vice-President Alhaji Aliu Mahama will represent Ghana at the meeting

Ayoub mzee with the Governor of the Bank of Tanzania Prof Benno ndulu

Click here for the statement from Heads of Government
Click here for full transcript of news conference