Joined up thinking for the Irish Left
New Books Worth Reading Mon Sep 19, 2016 23:25 | Seán Sheehan
13 Billion ? Lucky for some? Mon Sep 05, 2016 13:04 | Tony Phillips
Rebuilding Ireland: Long on Promise, Short on Detail Mon Aug 29, 2016 22:20 | Eoin O'Mahony
Brexit and Other Issues: Comments on the Current Situation Mon Aug 29, 2016 21:52 | Brendan Young
Bin Charges: From Private Circus to Public Service Tue Jun 21, 2016 12:38 | Michael Taft
Irish Left Review >>
What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith
The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith
Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh
Fake News: The Epistemology of Media Wed Jun 07, 2017 11:52 | Gavin Mendel-Gleason
Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien
Spirit of Contradiction >>
Interested in maladministration. Estd. 2005
Orwell’s 1984 arrives in 2018 Ireland
Elaine Byrne: Not speaking full truth to power Anthony
Israel/Ireland: Corruption comparison Anthony
Irish cowboy town and fake regulatory agencies Anthony
Elaine Byrne: Failing to join up the dots on state corruption Anthony
Public Inquiry >>
A bird's eye view of the vineyard
Interesting video of a quadruple ?volley? launch of SLBMs from the latest Russian SSBN Fri May 25, 2018 16:04 | The Saker
A rare and interesting event: a “volley” launch of four submarine launched ballistic missiles (SLBM – in this case the newest model “Bulava”) from a nuclear powered ballistic submarine (SSBN
Moveable Feast Cafe 2018/05/25 ? Open Thread Fri May 25, 2018 06:00 | Herb Swanson
2018/05/25 05:00:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of
It all depends on your values Fri May 25, 2018 05:05 | The Saker
[This article has been written for the Unz Review] This has been an interesting week for Russia. First, and contrary to my own expectations, Iulia Skripal has been allowed to
Conflict In Eastern Ukraine Can Soon Turn Into Open War Fri May 25, 2018 04:01 | Scott
https://southfront.org/conflict-in-ea... This week the military situation in eastern Ukraine has once again escalated as forces loyal to the Kiev government have advanced on positions controlled by defense forces of the
Interesting video of Russian Special Operations solider defending his position alone (Syria) Fri May 25, 2018 03:15 | The Saker
I just came across an interesting, if old (2016) video. According to this (Russian language) article, it shows a Syrian Army position attacked by a ISIS suicide bomber. Amongst the
The Saker >>
Governments Negotiate UN Agreement on Global Development
economics and finance |
Wednesday May 13, 2015 18:07 by Sophia Har - Jubilee USA Network
The United Nations, International Monetary Fund (IMF), World Bank and finance ministries are meeting in New York to finalize an agreement for the Financing for Development Conference (FfD) to be held in Addis Ababa, Ethiopia, in July.
IMF's Lagarde and World Leaders Will Attend Historic Ethiopia Summit
The United Nations, International Monetary Fund (IMF), World Bank and finance ministries are meeting in New York to finalize an agreement for the Financing for Development Conference (FfD) to be held in Addis Ababa, Ethiopia, in July. The summit seeks to tackle global poverty and features the IMF's Christine Lagarde, heads of state, business leaders and humanitarian groups such as Jubilee USA Network. Pope Francis has committed to attend the Sustainable Development Goals Conference to follow up on the commitments from the Financing for Development process.
"These negotiations are critical for billions of people living in poverty," said Eric LeCompte, executive director of the religious development organization, Jubilee USA Network. LeCompte and Jubilee USA are involved in negotiating the FfD outcome document. "This is a rare opportunity to create a binding global plan to drastically diminish poverty in our lifetime."
This summer's conference is the third Financing for Development summit. The first summit was held in 2002 in Monterrey, Mexico. It produced the "Monterrey Consensus," which laid out six areas of development financing. The 2008 summit in Doha, Qatar, led to commitments from developed nations to continue aid to developing nations and to address a number of systemic global economic concerns that contribute to global poverty such as debt, trade and tax issues. As the United Nations Millennium Development Goals expire, current negotiations continue to focus on these "systemic" issues in the form of domestic resource mobilization, or supporting developing countries to raise more revenue in their countries.
"The Financing for Development outcomes can curb corruption, tax evasion and unsustainable debts in the developing world," noted LeCompte, who serves on UN expert groups that focus on global finance. "If we succeed in changing tax, trade and debt policies, we can raise trillions of dollars to address poverty."
Poor countries pay several times as much on debt payments as they receive in official aid. There are also efforts to address so-called "illicit financial flows" through the FfD process. Developing countries lose nearly $1 trillion each year to these flows, which include corruption, tax evasion and crime, according to the research organization Global Financial Integrity. The recent Africa Union high-level panel led by former South African president Thabo Mbeki noted that Africa loses $50 billion annually to such flows. Another aspect of "domestic resource mobilization" is transparency and accountability in the budgets of countries. The United Nations Conference on Trade and Development (UNCTAD) developed principles for responsible lending and borrowing. The final agreement in Addis Ababa could standardize such accountability principles across the globe.
"Lending, borrowing and budget transparency is key," said LeCompte, who helped UNCTAD develop the principles. "Adopting responsible lending and borrowing raises billions of dollars and costs nothing."
Jubilee USA Network is an alliance of more than 75 US organizations and 400 faith communities working with 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org