year period with a view to the adoption of an expansionist financial policy aimed at closing the deflationary gap and stimulating demand to counter the repercussions of the global financial crisis. The best lesson to be learnt from this experience is the overriding importance of making every possible effort to remedy the flaws in the international financial system and reach international agreement on ways to remedy the flaws in the world economy in such a way as to secure a financial system that offers equal opportunities to all the parties while, at the same time, providing appropriate liquidity for the developing countries and safeguarding their monetary reserves from the collapse of any of the major international currencies. I do not think that it would be an exaggeration for me to say that my country, which is a developing country and, at the same time, a member of the G20 whose leaders recently held an important meeting, is not uttering empty words in this regard since the record clearly shows that its course of action is fully consistent with what it has advocated, and is continuing to advocate, in all international forums. Notwithstanding the fact that it is a developing country experiencing rapid demographic growth that implies a need for steadily increasing financial resources to cover the costs of human development, infrastructure and indigenous capacity building, the Kingdom has made considerable endeavours to assist other more needy countries to an extent that far exceeds the target set for international development assistance. The report issued by the United Nations Office for the Coordination of Humanitarian Affairs confirms that the Kingdom of Saudi Arabia headed the list of donor countries funding humanitarian relief operations in 2008. --More
