"Since the outbreak of the world economic, financial and debt crisis, the ongoing discussions about how to improve global economic governance have grown in significance, drawing increased public attention across the planet," General Assembly President Vuk Jeremic said to open the debate at U.N. headquarters in New York.
The one-day debate took place ahead of meetings of finance ministers and Central Bank governors Thursday and Friday in Washington.
"The General Assembly should become a venue for enhanced interaction between international financial and trade institutions, the G20 and non-G20 member states, by providing a platform to reflect on common concerns, as well as exchange views and share information," he said.
When he addressed the delegates, Deputy Secretary General Jan Eliasson noted the importance of supporting effective, fair global economic governance for development issues.
"I would also hope to see continued emphasis by the G20 on financing for development," Eliasson said, reiterating the United Nations' call for 0.7 percent of donor country's gross product be devoted to the Official Development Assistance fund.