Heads of state call for new world order!

CAIRO, Egypt - July 15, 2009 - More than 50 heads of state from the developing world met on Wednesday in Egypt to tackle the fallout from the global economic meltdown, with calls for a "new world order" to prevent a repeat of the crisis.

Cuban President Raul Castro said in a speech at the opening session of the Non-Aligned Movement summit that the financial crisis had hit developing nations the hardest.

"Every country in the world must seek just solutions to the global economic crisis," Castro told the 118-member body at the gathering in the Red Sea resort of Sharm el-Sheikh.

"We call for a new monetary and economic world order... we must restructure the world financial system to take into consideration the needs of developing countries."

Global power dynamics also need to be addressed, Libyan leader Muammar Qadhafi said, demanding a restructuring of the UN Security Council, which he branded a form of terrorism "monopolized by a few countries that are permanent members."

"This represents a danger toward international peace. We have suffered all sorts of harm from the Security Council; it has become a sword over our necks," he said. "The Security Council is terrorism."

Qadhafi said he wanted to correct the imbalance at the Security Council, demanding a permanent seat for the 53-member African Union, which he chairs.