financial inclusion

The global debt crisis and the role of private creditors

Sharing responsibilities as well as benefits? The global debt crisis and the role of private creditors

The results of the G20 initiatives to relieve the debt of the Global South, which has been hard hit economically by the pandemic, are sobering. Many eligible countries are reluctant to enter into negotiations. They fear that debt relief will cut off their long-term access to private capital markets and cause them to lose the confidence of private investors. These concerns have been reinforced by creditors, especially from the private sector. And the G20? Despite its commitment to private sector participation in the Common Framework for Debt Treatments, it has so far not found the political will to make such participation mandatory. However, this would be a key step to shield debtor countries from uncooperative creditors and achieve substantial debt relief.

In the run-up to the joint meeting of G20 health and finance ministers this October we have invited international experts from academia, government, and financial institutions to discuss the following questions among others:

  • Is there empirical evidence that debt relief excludes countries from much-needed development finance?
  • On what grounds could the participation from the private sector in official debt relief initiatives, comparable to other creditors, be expected?
  • In what ways can the G20 compel private sector participation and equal burden-sharing?

Further event details will be forthcoming, but please stay apprised of updates here: https://ny.fes.de/

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com. For more information on the NGO Committee on Sustainable Development-New York, please visit ngocsd-ny.org.

Public dialogue on the progress of the Inter-agency Task Force on Financing for Development

Dear colleagues,

You are cordially invited to an informal public dialogue on the progress of the Inter-agency Task Force on Financing for Development (IATF on FFD), in preparation for the 2022 Financing for Sustainable Development Report. The public dialogue will be held on the 21st of October (Thursday), 9:00 – 10:30 EDT, virtually via MS Teams.

Representatives from the Secretariat, the five major institutional stakeholders (World Bank Group, IMF, WTO, UNCTAD and UNDP), and other Task Force members will brief Member States and external stakeholders on their work. A short presentation will be followed by an interactive discussion to solicit feedback and input. We welcome the participation of all delegations and all stakeholders in this briefing and look forward to your contributions to the dialogue.

If you are interested in attending the briefing, please click here to register and you will receive a specific calendar invitation for the event.

Background information on the briefing is available on the Task Force website. For further information please contact Mr. Peter Chowla (chowla@un.org), Ms. Poh Lynn Ng (ng6@un.org), and Ms. Jie Wei (weij@un.org).

Kind regards,

Navid Hanif

Director, Financing for Sustainable Development Office, Department of Economic and Social Affairs, United Nations

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com.

World Bank + IMF Annual Meetings

The 2021 Annual Meetings of the World Bank Group and the International Monetary Fund will take place from Monday, October 11, through Sunday, October 17. All public and by-invitation-only events—including the Program of Seminars and other public events, ministerial meetings, CSO engagements, and press conferences—will be virtual and accessible on World Bank digital platforms. To accommodate time-differences, events may take place outside of the principal week.

At the heart of the Annual Meetings are the Annual Meetings plenary speeches, the joint World Bank Group/IMF Development Committee, and the IMF International Monetary and Financial Committee. Other featured events include regional briefings, press conferences, and fora focused on the global economy, international development, and the world’s financial markets.

Registration will open in mid-August. Information about the schedule of the 2021 Annual Meetings will be posted soon – check back regularly for updates here: worldbank.org/en/meetings/splash/annual

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org.

Autumn kick-off of NGO Committee on Ageing NY

Autumn kick-off of NGO Committee on Ageing regular monthly program

NGO COA-NY and the UNITED NATIONS: Update and a look ahead

Opening: Dr. Cynthia Stuen, Chair, NGO Committee on Ageing

  • Overview NGO COA’s activities during the past year and looking ahead in terms of its goals for the coming year
  • Introduction of new members of the Executive Committee, and Chairs of Subcommittees
  • New Decade of Healthy Ageing Knowledge Platform: decadeofhealthyage

10:30 am – 11:10 am

  • International Day of Older Persons, 1 October 2021 – Ms. Erica Dhar (AARP) and Ms. Magda Kaczmarska (Generations United), Co-chairs of event
  • NGO participation in UN activities – Ms. Susan Somers (International Network for the Prevention of Elder Abuse) and Ms. Frances Zainoeddin (Soroptimist International)
  • Standing up for the rights of older persons – an event on 14 October 2021: A focus on the USA and Canada – Dr. Cynthia Stuen, International Federation on Ageing

11:10 am – 11:25 am

  • Secretary-General’s annual report to the General Assembly
    Ms. Amal About Rafeh, Chief, Programme Unit on Ageing, UN/DESA

11:25 – 11:30 am Closing

No registration necessary. Join the meeting via Zoom here: https://us02web.zoom.us/j/84134007168

The NGO Committee on Ageing also urges you REGISTER for the International Day of Older Persons on 1 October 2021.

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CoNGO Notes: The NGO Committee on Ageing-NY is one of the Substantive Committeeof the Conference of NGOs in Consultative Relationship with the United Nations (CoNGO). Likewise, for more information on the NGO Committee on Ageing-Vienna, please visit ngoageingvie.org. For more information on the NGO Committee on Ageing-Geneva, please visit ageingcommitteegeneva.org. For more information on the NGO Committee on Intergenerational Solidarity, please email the vice chair at susanneseperson@gmail.com. 

9th Global Commodities Forum: Strengthening resilience in commodity dependent countries

Ninth Global Commodities Forum: Strengthening resilience in commodity dependent countries

The Global Commodities Forum will be held at the Palais des Nations, Geneva, with physical and remote participation, from 13 to 15 September 2021. It will commence at 3pm on Monday, 13 September 2021. The ninth meeting of the Global Commodities Forum is jointly organized by UNCTAD and the Government of Barbados, in collaboration with their partners. It is held in the lead up to the 15th session of the United Nations Conference on Trade and Development, hosted by Barbados, to be held with remote participation from 3 to 7 October 2021 and the theme of which is “From inequality and vulnerability to prosperity for all.”

The Global Commodities Forum is a major multi-stakeholder meeting, at which participants can discuss pragmatic solutions to perennial problems in the commodity economy. It offers a unique platform at which to debate issues at the intersection of commodities and development, including food security, water management, the transition from fossil fuels and the greening of the mining sector. The theme of the 2021 Global Commodities Forum is “Strengthening resilience in commodity dependent countries.” Responding effectively to the COVID-19 pandemic and meeting development needs in the context of accelerating climate change processes are challenging many commodity dependent developing countries. How countries will adapt to a constantly evolving environment depends on their capacity to promote innovative economic and social development programmes. In this regard, international cooperation is crucial. The Global Commodities Forum will connect policymakers with practitioners to address current challenges and future opportunities for commodity dependent economies.

The Global Commodities Forum will help to frame international policy discussions on commodities, highlighting challenges and opportunities for developing countries, in particular commodity dependent developing countries. In this regard, four thematic sessions and a high-level round table will be organized. On day 1, the first session will be dedicated to agriculture, with a focus on the policy actions required to ensure food security, and the second session will examine the challenges related to access to water in the twenty-first century. On day 2, the third and fourth sessions will examine issues related to energy commodities and minerals, with a focus on energy transitions. On day 3, a high-level round table will be held on strengthening resilience.

Register & view the full program, including speaker biographies, here: unctad15.org/commodities-forum.

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Disarmament, Peace, and Security, please visit ngocdps.wordpress.com

Climate Investment Summit 2021: Accelerating Green Investments

Climate Investment Summit 2021 is a leading summit aimed at increasing investments in climate and green recovery – built on the experience of practitioners, best practice business models and cross-sector collaboration.

The Climate Investment Summit is a pivotal milestone in the Climate Investment Coalition’s investment roadmap leading to a historical COP26 and beyond. The Summit will showcase the UK’s leading global position, commitment to net zero and the investment opportunities that this provides across the whole of the UK to catalyse billions of pounds of investment for the Ten Point Plan for a green industrial revolution.

Participate virtually here: climateinvestmentsummit.org

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit facebook.com/NGOCoRIP. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org

World Bank CSO Monthly Call Briefing

Dear Colleagues in Civil Society,

Please save the date for the next CSO Monthly Call. It will take place on Thursday, July 29, 2021, from 10:00 to 11:00 AM EST.

Preliminary Agenda

Speakers:

  • Dilip Ratha, Head, Global Knowledge Partnership on Migration and Development (KNOMAD), World Bank
  • Enrique Blanco Armas, Manager, International Development Association (IDA), World Bank

Objectives to discuss:

  1. The latest Migration and Development Briefthat highlights the resilience of remittances flows during the year 2020, despite the COVID-19 pandemic.
  2. An update on the IDA20 replenishment process.

The CSO monthly call will take a break during the month of August and will resume in September.

Kind regards,

World Bank Civil Society Team

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org

South-South Sharing of Experiences in Macro-Financial Policies for Structural Transformation

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT

Meeting the 2030 Agenda and the Sustainable Development Goals (SDGs) is inextricably linked with the process of structural transformation. Macroeconomic and financial policies are a key area in which many developing countries face limitations in their capacity to effectively design, manage, coordinate, implement, and evaluate the policy levers of structural transformation. South-South sharing of experiences, including by drawing lessons from success stories such as China’s development strategy, can help to address this shortcoming and assist national capacity-building.

China’s successful development experience over the past 40 years has been based on a pragmatic, gradual and experimental approach to development. Many other developing countries adopted policy strategies that emphasize reducing state influence over key macroeconomic policy levers such as exchange rates and interest rates, combined with broad-based liberalization and privatization at the sectoral level. This latter approach did not result in structural transformation. As such, China’s experience may act as a reference point from which other developing countries can assess alternative economic policy options that are consistent with their own objectives for structural transformation and adapted to their own specific circumstances.

This webinar looks at macroeconomic and financial policies from a comparative cross-country perspective. It aims at fostering a better understanding of the key macroeconomic and financial policy challenges that developing countries face and the extent to which China’s development strategy, trajectory and dynamics can inform other countries’ macroeconomic and financial policy strategies.

Register here: us02web.zoom.us/webinar/register/WN_ryV6dH_4SsKEuaGb7o44tw

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org.

Financing a sustainable recovery: the role of debt-relief instruments

Dear Colleagues,

Please join us for an HLPF Side Event on “Financing a sustainable recovery: The role of debt-relief instruments.”

This virtual side event, which is part of the Financing for Development in the Era of COVID-19 and Beyond Initiative, is jointly organized by UN DESA and UN Economic and Social Commission for Western Asia (UN ESCWA), with participation of UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and UN Economic and Social Commission for Asia and the Pacific (UN ESCAP) and the IMF.

The event brings together UN and other international experts to present and explore efforts to develop instruments for debt relief and restore fiscal space, for countries’ COVID response, climate action and the SDGs. The session aims to strengthen international and regional discourse on debt relief, especially in relation to climate change and the upcoming COP26.

The side event will take place on Thursday, 15 July 2021 (7:30 am – 9:00 am, New York/EDT) on WebEx.

Click here to register for the event and for more information, including the full concept note.

We welcome the participation of all stakeholders. You are most welcome to share this invitation with your networks.

Kind regards,

Navid Hanif

Director, Financing for Sustainable Development Office
Department of Economic and Social Affairs, United Nations

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org

Addressing the tensions between extreme poverty & environmental conservation

Join us July 8 for “Addressing the tensions between extreme poverty and environmental conservation,” an ATD Fourth World webinar at HLPF, in collaboration with the Maryknoll Sisters.

Register here!

This fascinating dialogue will bring together:

  • Activists from the Quilombola community in Brazil and the Maasai community in Tanzania, both facing
    threats to their lands, identities and cultures
  • Professionals in the field of social and environmental justice and human rights
  • International policy-makers in the realm of environmental conservation and management

Together, panelists will discuss how environmental conservation should not be used against the human
rights of people and communities living in poverty and will highlight examples of communities acting to
protect and preserve their environment and culture.

Speakers:

  • Seela John Sainyeye: Coordinator of Women Empowerment and Gender Equality at the Pilot Light Development Organization in Arusha, Tanzania
  • Leidyane Quilombola: Activist from Quilombo Nazaré, Maranhão, Brazil
  • David Smith: Chief Economist and Regional Coordinator – Africa. UNDP-UNEP, Poverty-Environment Action for the SDGs (PEA), UNEP

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org. For more information on the Committee of Religious NGOs at the United Nations, please visit rngos.wordpress.com

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