The United States today said it is partly to blame for the global economic downturn and stands ready to support multilateral efforts to work out financial assistance to poor countries, according to dpa. "The United State recognizes that we, along with others, bear a share of responsibility for the current crisis," US Ambassador Susan Rice said in an address during the UN General Assembly's debate on the world financial and economic crisis. Rice said the US has "moral obligations" to assist countries hardest hit by the recession and has decided to substantially increase its own financial assistance to them. She said the US will work with financial organizations such as the IMF and World Bank, the G8 and G20 to further respond to the needs of poor countries. Rice endorsed the United Nations as a "unique forum" to settle the crisis. "We are here to listen, exchange views and work with you in the spirit of cooperation," Rice said. Developing countries are asking for more than 1 trillion dollars in stimulus money to keep their economies afloat. They blamed developed countries for triggering the downturn.
