Following the 2008 global economic and financial crisis, the world economy has yet to find a sustainable growth path and the current policy mix in the developed economies has been inconsistent and could repeat past mistakes.
International trade growth remains slow because of weak global demand. Multilateral institutions need to focus on promoting the public interest as much as boosting market confidence and reducing financial risks.
To expand global trade, we need a robust domestic-demand-led output recovery at the national level. To support structural transformation and advance post-2015 development agenda, developing countries need adequate policy and fiscal space to make macro and industrial policies work effectively.
Preventing the resource drain caused by illicit financial flows and tax avoidance through international and national actions can also help provide the necessary revenues to finance the attainment of new development goals.
In addition, it should be a priority to assist developing countries on sustainable debt management to thus enhance their productive capacity and realize their development potential.
Download: Trade and Development Report 2014: Global Governance and Policy Space for Development
About the UNCTAD/UN-NGLS Dialogue Series on Bridging the Post-2015 Development Agenda and Financing for Development Processes
Against the backdrop of globalization, macroeconomic policies, including those concerning international trade, finance and debt management, are critical to support a global enabling environment for growth and sustainable development.
The transformative potential of the sustainable development agenda will be determined by the various corresponding Means of Implementation (MoI), including financial resources, capacity-building and technology development and transfer.
For example, the Secretary-General's Synthesis Report on the Post-2015 Agenda in paragraph 87 states that “an integrated development agenda demands an equally synergistic financial framework. Governments should work to better align the financing frameworks that developed out of the two strands of development debate – the Monterrey and the Rio processes.”
To support stakeholders to engage effectively in the formulation and implementation of the post-2015 development agenda and to help bring these two strands together, UNCTAD and UN-NGLS in partnership will host a series of dialogues to closely examine these important issues.
UNCTAD's technical experts on globalization, debt, trade and investments will be in New York to contribute to the December 2014 substantive informal sessions for the Third Financing for Development Conference, and in that context we invite civil society organizations and the private sector to join the discussions.
