Heads of State and Governments of the Central American Integration System (SICA) and the Brazilian President are calling for an urgent meeting of the Extraordinary Session of the General Assembly of the United Nations to deal with the world economic crisis being provoked by rising oil prices.

...the SICA leaders approved the request, concurring that they are alarmed by the economic and social consequences provoked by the skyrocketing oil prices...

Welcoming the initial proposal made by Dominican President Leonel Fernández, the SICA leaders approved the request, concurring that they are alarmed by the economic and social consequences provoked by the skyrocketing oil prices that are in turn driving up basic food prices on a global level, according to a press release from the President’s Office of Information, Press and Publicity.

On Thursday, the Presidents and Heads of State approved a special communiqué in which they are calling for an urgent meeting of the General Assembly of the United Nations.

President Fernández, having conferred with the SICA Heads of State and Government, warned that the passive attitude in the face of this new crisis of rising oil prices clearly shows that “casino capitalism is taking precedence over solidarity capitalism.”

In his communication, President Fernández analyzed the world energy crisis. He said he considered it to be the worst since the Great Depression in that there are now multiple dimensions. He warned that if world leaders remain with their arms crossed and do nothing, we are possibly facing the collapse of humanity.

“If we are not capable of maintaining economic stability and the social programs directed toward the most vulnerable sectors, this juncture represents a threat of social conflict and protests for our countries,” said the Dominican president.

Fernández added that Latin America should adopt a united position before international organizations on the subject of debt repayment.

It was in this context that the Dominican President proposed the convocation of an urgent meeting of the United Nations General Assembly and that the issue should also be brought before the Organization of American States (OAS).

President Fernández’s proposal was seconded by Presidents Elías Antonio Saca of El Salvador; Luis Inacio (Lula) da Silva of Brasil; Manuel Zelaya of Honduras; Martín Torrijos of Panama and other leaders present at the assembly.

The resolution adopted by SICA and the Brazilian government proposes that the UN seeks a real and pragmatic solution to the current crisis “that will result in a reduction of oil prices and an outline for an integral plan of action oriented toward the search for a mechanism that is sustainable over time to avoid this type of crisis which is based in speculation on the international market.”

El Salvador, in its role as Pro Tempore President of SICA, is entrusted to make the pertinent gestures before the United Nations.

President Fernández, having made an historical analysis of the crisis in terms of world oil prices, reiterated that the way to combat the crisis at this juncture is cooperation and solidarity among people and countries with the goal of consolidating democracy and continuing to advance.

At the close of the session of the SICA leaders and Brazil, President Fernández visited the Salvadoran Foundation for Social and Economic Development, the most prestigious research organization about current affairs.