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Indian PM: World Economic Crisis Deepening


Prime Minister of India Manmohan Singh speaks at the 66th United Nations General Assembly at U.N. headquarters, September 24, 2011.

Prime Minister of India Manmohan Singh speaks at the 66th United Nations General Assembly at U.N. headquarters, September 24, 2011.

Indian Prime Minister Manmohan Singh has warned that the world economic crisis is deepening, threatening developing countries and the global financial system.

In his address to the United Nations General Assembly Saturday, Singh said the "shoots of recovery" that appeared after the 2008 crisis "have yet to blossom" and in many respects, he said, the situation has gone further downhill and hurt confidence in financial markets.

Singh also called for changes to the membership of the United Nations Security Council. India is one of several countries hoping to gain a permanent seat on the council if changes are made.

The debate at the U.N. General Assembly continues through Friday of next week.

On Thursday, in one of the most controversial of the speeches, Iranian President Mahmoud Ahmadinejad harshly criticized the United States, Israel and the West, accusing them of provoking wars, causing worldwide recession, and spreading "totalitarianism."

His statements provoked a walkout by delegations from the United States, France and more than two dozen other nations. The speech came after several hundred protesters rallied outside the United Nations, voicing their displeasure at Ahmadinejad's presence at the General Assembly.

Some information for this report was provided by AP, AFP and Reuters.

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