Africa Must be Part of the Global Solution

Size: px
Start display at page:

Download "Africa Must be Part of the Global Solution"

Transcription

1 H.E Kofi Annan 10 March 2008 Dar es Salam Africa Must be Part of the Global Solution I am delighted to be back in Dar es Salam and to have this opportunity to contribute to vital discussions on the future of the continent. We meet in extraordinary times. We could be facing the economic equivalent of a tsunami. If not managed, it threatens to undo the progress in recent years across Africa progress which Tanzania exemplifies. Tanzania s commitment to democracy, and to using growth to tackle poverty and inequality, has delivered real results whether access to clean water, towards universal primary education, or on educating girls key Millennium Development Goals. I suspect our IMF co-hosts had little idea, when planning the meeting a year ago, how timely it would be. Then, the issue was the relevance and track record of international financial institutions. Now, it is what must be done to make them more effective, as part of a radical redesign of global governance. When the global meltdown was viewed as primarily financial, many thought that Africa might be spared. But this failed to recognise what globalization means, and how our economies, countries and fortunes are inter-connected. Africa is now on the front line. The IMF s 3.3% growth forecast may be revised downward again. The slump in demand, trade, commodity prices, foreign investment and remittances is having a devastating effect on revenues, growth and jobs. The cost of borrowing is up, access to credit down. And aid flows are likely to be reduced, just when they are most needed. The impact of climate change is ever more evident. Unpredictable weather patterns are placing extra pressures on agricultural productivity, water systems, natural resources, livestock and human health. Economic contraction, chronic poverty, malnutrition and environmental degradation could lead to a perfect storm of insecurity, instability and personal misery. Africa has every right to feel aggrieved, for at least three reasons. 1

2 First, least developed countries could be the biggest casualties of a crisis they did not create. They are not responsible for the lack of oversight, institutional recklessness and perverse incentives that have triggered the financial crash. Their carbon footprint is tiny, yet they are most affected by climate change. Second, it comes just as Africa was getting into its stride. To paraphrase Dominique s comments last week, inflation, fiscal and current account deficits and debt have been going down, while trade, growth, and reserves have been going up. The numbers living in poverty were declining. Not long ago, Bob Zoellick talked about the prospect of African cheetahs, the equivalent of the Asian tigers. And contrary to the image of Africa, and despite too many glaring exceptions, in most countries democracy and accountability have strengthened. No less that 16 African countries have signed up to the Extractive Industries Transparency Initiative, Tanzania being the most recent. Progress is being achieved in the face of formidable obstacles, despite a legacy that makes it easier for African countries to communicate and trade with other continents than with each other. Third, the incredible sums found, at short notice, by industrialized countries. Trillions of dollars have been committed in the last few months for bail out and stimulus packages. This compares with a total of $100 billion a year in development aid. More than that has been spent on rescuing one US Company alone. This undermines the credibility of the claim that relatively modest sums cannot be found to support the fight against global poverty. The real issue is political will. Healthy western economies are good news for Africa. Efforts to restore growth and jobs are welcome. But while the crisis is so obviously global, political responses to it have remained doggedly national. Political leaders in the OECD and the big emerging economies are focused on the fallout in their own countries. There is a deeply worrying growth in protectionist sentiment. What does this mean for Africa? There is no point in feeling sorry for ourselves. Africa must set out a compelling three part message in upcoming international negotiations: - First, Africa can be part of the solution to the global economic crisis; 2

3 - Second, African countries need immediate support; - And third, Africa must be fully represented in the evolving global architecture. Africa can be part of the solution by including it in a global stimulus plan. Its basis must be a continent wide pipeline of ready projects, focusing on clean energy, roads, rail, and port facilities. This will create jobs and stimulate economic activity, both in Africa and globally. It will help boost food security and provide the basis for stronger trading relations within the region. The World Bank has a key role here. Our second message is that Africa needs immediate support. It should go without saying that development strategies will be country led. But the globalised nature of the crisis is such that no country or region can cope on its own. A level playing field on trade, and the removal of subsidies that penalise Africa, is essential. In November, the G20 said the Doha Round would be restarted. We have to insist that this actually happens. Financial flows to Africa are plunging. Immediate measures are needed to allow Africa to access a large increase in financial assistance. Failure to compensate for loss of revenues to maintain essential public services could result in extraordinary human suffering. Infant mortality, school attendance, nutrition levels and disease prevalence are all at stake. As ever, it will be women and children who are most vulnerable. Specific proposals need to include: - A dramatic increase in concessional lending and temporary financial support; - Renewed commitment to international cooperation on strengthening tax systems, fiscal cooperation, and ending illicit financial flows; - A proposal on how OECD countries can reduce the cost and therefore increase the volume of remittances from the Diaspora; - Agreement on how Africa can access new sources of finance and technology to mitigate and, critically, to adapt to climate change; - Serious commitment to increasing efficiency and investment in the drive for food security; and - Insistence that G8 and OECD promises on aid flows be met. 3

4 Reneging on promises would be a breach of trust just when global solidarity is most needed. This was my message to the hosts of the G8, whom I met two weeks ago. The risk that some countries will not be able to cope is real. So we also need a continental safety net to support those sliding into trouble. This needs to include partnership with the UN to identify and meet urgent priorities. The AfDB, the African Union, the Economic Commission for Africa, along with sub regional bodies, are playing a vital role. But this is not enough. We do not have fiscal surplus countries like China and Japan in the neighbourhood, though both are playing increasingly important role in Africa. Africa, more than any other region, could benefit from the technical support, policy advice and financial resources that the Bretton Woods institutions have to offer. Here, we should be frank. Many developing countries have not always been happy with the role that the Bank and the Fund have played over the last decades. Policy conditionality and macro-economic and fiscal prescriptions have been controversial, and often resented. Their impact on growth and human development is also disputed. Ultimately, at issue is the political legitimacy of the IFIs. This must be addressed in a way that accommodates both the weight of large emerging economies, but also the needs of the least developed countries. A timetable for reform is now needed, embracing governance, staffing and modus operandi. At a time when the world is re-writing the rule book and embarked on fiscal expansion, the IMF needs to develop a new lending model. The linkage between access to concessional loans and policy reforms needs to be rejigged. So our third message should be that Africa must be fully represented in the global architecture, including negotiations on regulation of the global financial system. It is good not enough being occasional guests at exclusive Club meetings. Clearly, plans to reform the IFIs must not hold up action to address immediate priorities. More resources, and a fast-track approval system, are needed to allow countries to access support from the IMF and the ADB. There are many ways in which their resource base can be increased, whether through borrowing, the issue of Special Drawing Rights, or by other means. So we face a big agenda: to ensure that Africa is part of a global stimulus plan, to get immediate and adequate support, including to prevent suffering, and to reform the global architecture. For our agenda to be credible, Africa must live up to its own commitments. 4

5 These are enshrined in the Constitutive Act of the AU and numerous other agreements, including the Convention of Corruption, the Monterrey Consensus, and the Rome and Paris Declarations. They include commitments to good governance, respect for human rights, the rule of law, aid effectiveness, transparency and accountability. Insisting that partners keep their promises, if we don t keep ours, won t work. More importantly, citizens deserve good governance and accountability. The private sector needs an enabling environment to start businesses, get permits, rent property, access services and have recourse to the law. Success in implementing commitments on governance pays high dividends. I am convinced that the ability of a country to withstand and respond to external shocks, financial, economic or climatic, depends on it. Let me conclude by saying, as one wit put it, You never want a serious crisis to go to waste. We now have a once-in-a-generation opportunity to reshape the international architecture in a fairer and more effective way. This is the soundest basis for a strong partnership between Africa and the IFIs to meet human development and growth challenges. Thanks to our Central Bank Governors and Finance ministers who met in Tunis, and the meeting of the Committee of Ten in Cape Town in January, we are well advanced in terms of shaping the Africa agenda. The upcoming G-20 meeting must be grasped, not least as it will include a number of leaders, including Presidents Hu and Lula, and Prime Ministers Singh and Brown, who want Africa as a partner. We now need to market specific proposals, including from this meeting, that they can support. The world will benefit, and so will Africa. I wish you well in your discussions. Ends 5

NOTE FROM THE PRESIDENT OF THE WORLD BANK

NOTE FROM THE PRESIDENT OF THE WORLD BANK DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund On the Transfer of Real Resources to Developing Countries) INTERNATIONAL BANK FOR WORLD BANK RECONSTRUCTION

More information

SIERRA LEONE UPDATES FROM THE INSTANBUL PRIORITY AREAS OF ACTION

SIERRA LEONE UPDATES FROM THE INSTANBUL PRIORITY AREAS OF ACTION SIERRA LEONE UPDATES FROM THE INSTANBUL PRIORITY AREAS OF ACTION 1 OUTLINE OF PRESENTATION Recent Developments Istanbul Priority Areas of Action Poverty Levels Agenda for Prosperity Challenges Conclusion

More information

Economic and Social Council

Economic and Social Council United Nations African Union Economic and Social Council African Union E/ECA/CM/48/6 Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development Forty-eighth

More information

MACROECONOMIC AND FISCAL ASSESSMENT

MACROECONOMIC AND FISCAL ASSESSMENT Public Sector Financial Management Program (RRP SAM 46384) A. BACKGROUND MACROECONOMIC AND FISCAL ASSESSMENT 1. Samoa is composed of about 10 islands, 4 inhabited, and several uninhabited islets situated

More information

Recognizing that women smallholder farmers constitute the majority of food producers, but remain vulnerable and require targeted support;

Recognizing that women smallholder farmers constitute the majority of food producers, but remain vulnerable and require targeted support; DECLARATION OF THE HIGH-LEVEL MEETING Toward African Renaissance: Renewed Partnership for a Unified Approach to End Hunger in Africa by 2025 under the Framework the Comprehensive Africa Agriculture Development

More information

London Summit Leaders Statement 2 April 2009. 1. We, the Leaders of the Group of Twenty, met in London on 2 April 2009.

London Summit Leaders Statement 2 April 2009. 1. We, the Leaders of the Group of Twenty, met in London on 2 April 2009. London Summit Leaders Statement 2 April 2009 1. We, the Leaders of the Group of Twenty, met in London on 2 April 2009. 2. We face the greatest challenge to the world economy in modern times; a crisis which

More information

ANNUAL 2008 SESSION OF THE PARLIAMENTARY CONFERENCE ON THE WTO Geneva, 11-12 September 2008

ANNUAL 2008 SESSION OF THE PARLIAMENTARY CONFERENCE ON THE WTO Geneva, 11-12 September 2008 ANNUAL 2008 SESSION OF THE PARLIAMENTARY CONFERENCE ON THE WTO Geneva, 11-12 September 2008 Organized jointly by the Inter-Parliamentary Union and the European Parliament Item 3(a) PC-WTO/2008/3(a)-R.2

More information

SEVENTY-SIXTH MEETING WASHINGTON, DC OCTOBER

SEVENTY-SIXTH MEETING WASHINGTON, DC OCTOBER DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries) SEVENTY-SIXTH MEETING WASHINGTON, DC OCTOBER

More information

International Monetary and Financial Committee

International Monetary and Financial Committee International Monetary and Financial Committee Twenty-Ninth Meeting April 12, 2014 Statement by Ms. Jutta Urpilainen, Minister of Finance, Finland On behalf of Denmark, Estonia, Finland, Iceland, Latvia,

More information

International Monetary and Financial Committee

International Monetary and Financial Committee International Monetary and Financial Committee Twenty-Ninth Meeting April 12, 2014 Statement by Christophe Akagha-Mba, Minister of Economy and Prospective, Gabon On behalf of Benin, Burkina Faso, Cameroon,

More information

Brisbane Action Plan

Brisbane Action Plan Brisbane Action Plan November 2014 A Blueprint for Growth The Brisbane Action Plan outlines the individual and collective actions that we are taking in pursuit of strong, sustainable and balanced growth,

More information

The BMZ initiative for an International Tax Compact. Keynote speech, held at the International Tax Compact Workshop (Brussels, 25-26 January 2010)

The BMZ initiative for an International Tax Compact. Keynote speech, held at the International Tax Compact Workshop (Brussels, 25-26 January 2010) Dr. Ulla Mikota Deputy Director General German Federal Ministry for Economic Cooperation and Development (BMZ) The BMZ initiative for an International Tax Compact Keynote speech, held at the International

More information

The World We Want. A North-East Asian Youth Vision

The World We Want. A North-East Asian Youth Vision The World We Want A North-East Asian Youth Vision This Declaration was handed to His Excellency Kim Sung-hwan, Minister of Foreign Affairs and Trade of the Republic of Korea, in Seoul on 9 th of January

More information

European Debt Crisis and Impacts on Developing Countries

European Debt Crisis and Impacts on Developing Countries July December 2011 SR/GFC/11 9 SESRIC REPORTS ON GLOBAL FINANCIAL CRISIS 9 SESRIC REPORTS ON THE GLOBAL FINANCIAL CRISIS European Debt Crisis and Impacts on Developing Countries STATISTICAL ECONOMIC AND

More information

COU CIL OF THE EUROPEA U IO. Brussels, 18 May 2009 10018/09 DEVGE 150 RELEX 475 ACP 124 FI 187 WTO 106

COU CIL OF THE EUROPEA U IO. Brussels, 18 May 2009 10018/09 DEVGE 150 RELEX 475 ACP 124 FI 187 WTO 106 COU CIL OF THE EUROPEA U IO Brussels, 18 May 2009 10018/09 DEVGE 150 RELEX 475 ACP 124 FI 187 WTO 106 OTE from : General Secretariat dated : 18 May 2009 No. prev. doc. : 9310/09 Subject : Council Conclusions

More information

Facilitating Remittances to Help Families and Small Businesses

Facilitating Remittances to Help Families and Small Businesses G8 ACTION PLAN: APPLYING THE POWER OF ENTREPRENEURSHIP TO THE ERADICATION OF POVERTY The UN Commission on the Private Sector and Development has stressed that poverty alleviation requires a strong private

More information

Financial sector leadership on natural capital

Financial sector leadership on natural capital Financial sector leadership on natural capital The Natural Capital Declaration A commitment by financial institutions to mainstream natural capital in financial products and in accounting, disclosure and

More information

Human Resources Development for Economic Development examples and lessons from ACP countries

Human Resources Development for Economic Development examples and lessons from ACP countries A presentation to the ACP EU Economic and Social Interest Group, Brussels, 5 March 08 : Human Resources Development for Economic Development examples and lessons from ACP countries Brenda King Member of

More information

Governor's Statement No. 36 October 9, 2015. Statement by the Hon. 'AISAKE VALU EKE,

Governor's Statement No. 36 October 9, 2015. Statement by the Hon. 'AISAKE VALU EKE, Governor's Statement No. 36 October 9, 2015 Statement by the Hon. 'AISAKE VALU EKE, Governor of the Bank for TONGA Statement by the Hon. Dr. 'Aisake Valu Eke, Governor of the Bank for Tonga Mr. President

More information

FINANCING SUSTAINABLE DEVELOPMENT

FINANCING SUSTAINABLE DEVELOPMENT FINANCING SUSTAINABLE DEVELOPMENT Key Policy Issues and the Role of the IMF April 2015 2015 is a pivotal year a year when the international community will commit to a shared vision on goals for international

More information

The World Bank Group. World Bank and IMF: Differences. World Bank and IMF: Differences. What Does the World Bank Do?

The World Bank Group. World Bank and IMF: Differences. World Bank and IMF: Differences. What Does the World Bank Do? The World Bank Group Axel Dreher Konjunkturforschungsstelle Swiss Institute for Business Cycle Research What is the World Bank? Founded in 1944, the Bank is the world s largest source of development assistance

More information

6 Key Financing for Development Initiatives for the Addis Conference and Beyond Issue Brief

6 Key Financing for Development Initiatives for the Addis Conference and Beyond Issue Brief 6 Key Financing for Development Initiatives for the Addis Conference and Beyond Issue Brief Prepared by the SDSN Secretariat May 7, 2015 A successful outcome of the Addis Ababa Conference on Financing

More information

17 Africa and the Washington Consensus

17 Africa and the Washington Consensus 17 Africa and the Washington Consensus Brian Kahn 1 Introduction A lthough Africa remains marginal to the globalisation process, the continent s future development prospects are nevertheless profoundly

More information

Hong Kong Declaration on Sustainable Development for Cities

Hong Kong Declaration on Sustainable Development for Cities Hong Kong Declaration on Sustainable Development for Cities 1. We, the representatives of national and local governments, community groups, the scientific community, professional institutions, business,

More information

The Role of Public Policy in Sustainable Infrastructure

The Role of Public Policy in Sustainable Infrastructure The Role of Public Policy in Sustainable Infrastructure Zia Qureshi Nonresident Senior Fellow, Global Economy and Development, Brookings Institution Infrastructure development, economic growth, and climate

More information

CHAPTER 11: The Problem of Global Inequality

CHAPTER 11: The Problem of Global Inequality CHAPTER 11: The Problem of Global Inequality MULTIPLE CHOICE 1. The claim that poverty is unethical is essentially a. Normative c. political b. theoretical d. scientific 2. Self-interest is an important

More information

Lecture 4: The Aftermath of the Crisis

Lecture 4: The Aftermath of the Crisis Lecture 4: The Aftermath of the Crisis 2 The Fed s Efforts to Restore Financial Stability A financial panic in fall 2008 threatened the stability of the global financial system. In its lender-of-last-resort

More information

The global financial crisis is already causing a

The global financial crisis is already causing a Overseas Development Institute Background Note October 008 The global financial crisis and developing countries Which countries are at risk and what can be done? By Dirk Willem te Velde The global financial

More information

Business as Usual is Not an Option: Trade and Markets

Business as Usual is Not an Option: Trade and Markets Issues in Brief Business as Usual is Not an Option: Trade and Markets Underinvestment in developing country agriculture including in local and regional market infrastructure, information and services has

More information

Capacity Building in the New Member States and Accession Countries on Further Climate Change Action Post-2012

Capacity Building in the New Member States and Accession Countries on Further Climate Change Action Post-2012 Capacity Building in the New Member States and Accession Countries on Further Climate Change Action Post-2012 (Service Contract N o 070402/2004/395810/MAR/C2) 29 November 2007 Almost all New Members States

More information

How can an Ecological Footprint Contribute to Green Economy in Africa?

How can an Ecological Footprint Contribute to Green Economy in Africa? RIO+20 AFRICAN DEVELOPMENT BANK How can an Ecological Footprint Contribute to Green Economy in Africa? Introduction Fundamentally we all depend on nature, the ecological infrastructure of the planet that

More information

Country Operations Business Plan. Project Number: 26194 August 2013. Samoa 2014 2016

Country Operations Business Plan. Project Number: 26194 August 2013. Samoa 2014 2016 Country Operations Business Plan Project Number: 26194 August 2013 Samoa 2014 2016 CURRENCY EQUIVALENTS (as of 11 August 2013) Currency Unit tala (ST) ST$1.00 = $0.4256 $1.00 = ST2.3496 ADB ADF GDP IMF

More information

Financing For Development by Sir K Dwight Venner, Governor, ECCB (3 August 2001)

Financing For Development by Sir K Dwight Venner, Governor, ECCB (3 August 2001) The Caribbean countries now find themselves having to make fundamental adjustments to the structure of their economies and financial systems in response to changes at the global level. The region is not

More information

Building on International Debt Relief Initiatives. Testimony for the Senate Foreign Relations Committee

Building on International Debt Relief Initiatives. Testimony for the Senate Foreign Relations Committee Building on International Debt Relief Initiatives Testimony for the Senate Foreign Relations Committee Nancy Birdsall, President, Center for Global Development April 24, 2008 Introduction Senator Casey,

More information

PRACTICAL STRATEGIES FOR IMMEDIATE PROGRESS ON CLIMATE CHANGE BUILDING BLOCKS FOR A GLOBAL AGREEMENT

PRACTICAL STRATEGIES FOR IMMEDIATE PROGRESS ON CLIMATE CHANGE BUILDING BLOCKS FOR A GLOBAL AGREEMENT PRACTICAL STRATEGIES FOR IMMEDIATE PROGRESS ON CLIMATE CHANGE BUILDING BLOCKS FOR A GLOBAL AGREEMENT Forging an effective response to climate change is one of the international community s highest priorities.

More information

Estonia and the European Debt Crisis Juhan Parts

Estonia and the European Debt Crisis Juhan Parts Estonia and the European Debt Crisis Juhan Parts Estonia has had a quick recovery from the recent recession and its economy is in better shape than before the crisis. It is now much leaner and significantly

More information

Appeal to the Member States of the United Nations Early Childhood Development: The Foundation of Sustainable Human Development for 2015 and Beyond

Appeal to the Member States of the United Nations Early Childhood Development: The Foundation of Sustainable Human Development for 2015 and Beyond UNICEF/NYHQ2006-0450/Pirozzi Appeal to the Member States of the United Nations Early Childhood Development: The Foundation of Sustainable Human Development for 2015 and Beyond We, the undersigned, submit

More information

Economic Overview. East Asia managed to weather the global recession by relying on export-oriented

Economic Overview. East Asia managed to weather the global recession by relying on export-oriented Economic Overview Economic growth remains strong in East Asia and retains healthy momentum thanks to strong commodity prices and increases in exports. leads the region in growth and its GDP is expected

More information

Needs of Countries in Special Situations:

Needs of Countries in Special Situations: Needs of Countries in Special Situations: African Countries, LDCs, LLDCs, and SIDS as well as Specific Challenges Facing the Middle Income Countries December 11, 2013 Mahmoud Mohieldin, President's Special

More information

Impact of Global Financial Crisis on South Asia

Impact of Global Financial Crisis on South Asia Impact of Global Financial Crisis on South Asia February 17, 2009 - The global financial crisis hit South Asia at a time when it had barely recovered from severe terms of trade shock resulting from the

More information

The International Monetary Order and the Canadian Economy

The International Monetary Order and the Canadian Economy Notes for Remarks by David Dodge Governor of the Bank of Canada to the Canada-U.K. Chamber of Commerce London, U.K. 28 June 2005 The International Monetary Order and the Canadian Economy As business people

More information

THE GROUP OF 8 EXTERNAL DEBT CANCELLATION Effects and implications for Guyana

THE GROUP OF 8 EXTERNAL DEBT CANCELLATION Effects and implications for Guyana THE GROUP OF 8 EXTERNAL DEBT CANCELLATION Effects and implications for Guyana Introduction Guyana is one of the most indebted emerging market economies in the world. In 2004, its total public external

More information

International Monetary and Financial Committee

International Monetary and Financial Committee International Monetary and Financial Committee Twenty-Seventh Meeting April 20, 2013 Statement by Koen Geens, Minister of Finance, Ministere des Finances, Belgium On behalf of Armenia, Belgium, Bosnia

More information

Haiti s Economic Development since 2004/05 and Macroeconomic Outlook

Haiti s Economic Development since 2004/05 and Macroeconomic Outlook Haiti s Economic Development since 2004/05 and Macroeconomic Outlook By Ugo Fasano Former IMF Resident Representative in Haiti the American-Haitian Chamber of Commerce Port-au-Prince, July 1, 2009 Plan

More information

The Smartest Targets For The WORLD 2016-2030

The Smartest Targets For The WORLD 2016-2030 The Smartest Targets For The WORLD 2016-2030 The World s Best Targets Right now, 193 governments negotiating Targets for 2016-2030 Most people don t know Development aid 2016-30: $2.5 trillion The World

More information

AUSTRALIAN HIGH COMMISSION. University of Newcastle Graduation Recognition Ceremony for Graduates from Botswana

AUSTRALIAN HIGH COMMISSION. University of Newcastle Graduation Recognition Ceremony for Graduates from Botswana AUSTRALIAN HIGH COMMISSION PRETORIA University of Newcastle Graduation Recognition Ceremony for Graduates from Botswana 12.00pm on Sunday 13 SEPTEMBER 2009 SHERATON PRETORIA HOTEL SOUTH AFRICA Remarks

More information

Fiscal consolidation: the Greek case. Dionysios A. Lalountas Directorate of Macroeconomic Policy & Forecasts Ministry of Finance

Fiscal consolidation: the Greek case. Dionysios A. Lalountas Directorate of Macroeconomic Policy & Forecasts Ministry of Finance Fiscal consolidation: the Greek case Dionysios A. Lalountas Directorate of Macroeconomic Policy & Forecasts Ministry of Finance 1 Structure of the presentation Macroeconomic developments before the sovereign

More information

In this chapter, we highlight the main issues relating to Uganda s

In this chapter, we highlight the main issues relating to Uganda s 3 HIPC Debt Relief and Poverty Reduction Strategies: Uganda s Experience Florence N. Kuteesa and Rosetti Nabbumba In this chapter, we highlight the main issues relating to Uganda s experience in debt stock

More information

Message from the Prime Minister of Republic of Turkey

Message from the Prime Minister of Republic of Turkey TURKISH G20 PRESIDENCY PRIORITIES FOR 2015 Message from the Prime Minister of Republic of Turkey The Great Recession in 2008-09 taught us that the solution to global challenges rests in global actions.

More information

DECLARATION SUMMIT ON FINANCIAL MARKETS AND THE WORLD ECONOMY November 15, 2008 1. We, the Leaders of the Group of Twenty, held an initial meeting in

DECLARATION SUMMIT ON FINANCIAL MARKETS AND THE WORLD ECONOMY November 15, 2008 1. We, the Leaders of the Group of Twenty, held an initial meeting in DECLARATION SUMMIT ON FINANCIAL MARKETS AND THE WORLD ECONOMY November 15, 2008 1. We, the Leaders of the Group of Twenty, held an initial meeting in Washington on November 15, 2008, amid serious challenges

More information

A full report of our recent meeting will be distributed to all the delegations. Let me briefly summarize some of the most salient conclusions.

A full report of our recent meeting will be distributed to all the delegations. Let me briefly summarize some of the most salient conclusions. Statement by the Executive Secretary of the Economic Commission for Latin America and the Caribbean, ECLAC, Dr. José Antonio Ocampo, in the name of Regional Commissions of the United Nations It is a great

More information

21 PROGRESSIVE PROPOSALS FOR COP21 approved by the PES Presidency on 9 October, to be adopted by PES Leaders on 21 October in Paris

21 PROGRESSIVE PROPOSALS FOR COP21 approved by the PES Presidency on 9 October, to be adopted by PES Leaders on 21 October in Paris 21 PROGRESSIVE PROPOSALS FOR COP21 approved by the PES Presidency on 9 October, to be adopted by PES Leaders on 21 October in Paris The world community will have the unique opportunity to tackle dangerous

More information

International Monetary and Financial Committee

International Monetary and Financial Committee International Monetary and Financial Committee Thirty-Second Meeting October 9-10, 2015 IMFC Statement by Immongault Tatagani Minister of Economy, Investments, Promotion and Prospective, Gabon On behalf

More information

Supplemental Unit 5: Fiscal Policy and Budget Deficits

Supplemental Unit 5: Fiscal Policy and Budget Deficits 1 Supplemental Unit 5: Fiscal Policy and Budget Deficits Fiscal and monetary policies are the two major tools available to policy makers to alter total demand, output, and employment. This feature will

More information

We, in regional sub-national and national legislative Assemblies in Federal States, gathered here in Milan from different Nations and Continents,

We, in regional sub-national and national legislative Assemblies in Federal States, gathered here in Milan from different Nations and Continents, WORLD FORUM OF REGIONAL AND SUB-NATIONAL LEGISLATIVE ASSEMBLIES Manifesto of regional, sub-national and national Legislative Assemblies in Federal States for a true global democracy We, in regional sub-national

More information

A Brief Analysis of the Impact of NAFTA on the United States and Mexico. Animesh Singh Professor P. Dasgupta Saint Peter s College November 15, 2011.

A Brief Analysis of the Impact of NAFTA on the United States and Mexico. Animesh Singh Professor P. Dasgupta Saint Peter s College November 15, 2011. 1 A Brief Analysis of the Impact of NAFTA on the United States and Mexico. Animesh Singh Professor P. Dasgupta Saint Peter s College November 15, 2011. 2 1. Background NAFTA, the North American Free Trade

More information

Adjusting to a Changing Economic World. Good afternoon, ladies and gentlemen. It s a pleasure to be with you here in Montréal today.

Adjusting to a Changing Economic World. Good afternoon, ladies and gentlemen. It s a pleasure to be with you here in Montréal today. Remarks by David Dodge Governor of the Bank of Canada to the Board of Trade of Metropolitan Montreal Montréal, Quebec 11 February 2004 Adjusting to a Changing Economic World Good afternoon, ladies and

More information

Governor's Statement No. 34 October 10, 2014. Statement by the Hon. 'AISAKE VALU EKE, Governor of the Bank for TONGA

Governor's Statement No. 34 October 10, 2014. Statement by the Hon. 'AISAKE VALU EKE, Governor of the Bank for TONGA Governor's Statement No. 34 October 10, 2014 Statement by the Hon. 'AISAKE VALU EKE, Governor of the Bank for TONGA Statement by the Hon. 'Aisake Valu Eke, Governor of the Bank for Tonga Mr. Chairman,

More information

Global Conference on Accounting and Reporting by Governments The global case for transparency

Global Conference on Accounting and Reporting by Governments The global case for transparency www.pwc.com Global Conference on Accounting and Reporting by Governments The global case for transparency Brian Quinn, World Bank Group The Global Case for Transparency Brian Quinn Director World Bank

More information

RIA Novosti Press Meeting. Economic Outlook and Policy Challenges for Russia in 2012. Odd Per Brekk Senior Resident Representative.

RIA Novosti Press Meeting. Economic Outlook and Policy Challenges for Russia in 2012. Odd Per Brekk Senior Resident Representative. RIA Novosti Press Meeting Economic Outlook and Policy Challenges for Russia in 2012 Odd Per Brekk Senior Resident Representative January 26, 2012 This morning I will start with introductory remarks on

More information

The Hospital Strategy Project in South Africa

The Hospital Strategy Project in South Africa 8 The Hospital Strategy Project in South Africa Monitor Company, Health Partners International, Center for Health Policy, and National Labor and Economic Development Institute, South Africa This chapter

More information

Deutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director

Deutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director Deutsche Bank UK Banks Conference 07 April 2011 Chris Lucas, Group Finance Director Slide: Name Slide Thanks very much, it s a great pleasure to be here today and I d like to thank our hosts Deutsche Bank

More information

ordinated way, while remaining focused on the long-term needs for a continent which aspires to earn its livelihood through trade and investment.

ordinated way, while remaining focused on the long-term needs for a continent which aspires to earn its livelihood through trade and investment. Table-ronde ministérielle / Ministerial Round Table Allocution d ouverture / Opening Address Donald Kaberuka, président de la BAD / AfDB President 12 mai 2009 May 12 2009 Africa s limited integration into

More information

A EUROPE THAT WORKS EUROPEAN LIBERALS ARE THE FIRST TO ADOPT ELECTION MANIFESTO

A EUROPE THAT WORKS EUROPEAN LIBERALS ARE THE FIRST TO ADOPT ELECTION MANIFESTO A EUROPE THAT WORKS EUROPEAN LIBERALS ARE THE FIRST TO ADOPT ELECTION MANIFESTO In 2014, we will have the opportunity to shape the future of Europe at a crucial time in the history of our continent. In

More information

G20 Leaders Communiqué Brisbane Summit, 15-16 November 2014

G20 Leaders Communiqué Brisbane Summit, 15-16 November 2014 G20 Leaders Communiqué Brisbane Summit, 15-16 November 2014 1. Raising global growth to deliver better living standards and quality jobs for people across the world is our highest priority. We welcome

More information

Open Banking Building a transparent banking system

Open Banking Building a transparent banking system Open Banking Building a transparent banking system Housing Open Banking : Building a transparent banking system Labour s With Britain back in recession thanks to the Government s failed economic policies

More information

The FDI regime in Brazil has been fairly open during the last decades. Except in specific situations in the legislation or as a manner to circumvent

The FDI regime in Brazil has been fairly open during the last decades. Except in specific situations in the legislation or as a manner to circumvent The FDI regime in Brazil has been fairly open during the last decades. Except in specific situations in the legislation or as a manner to circumvent FDI limitations, there is no distinction between established

More information

The Global Banking Crisis: an African banker's response

The Global Banking Crisis: an African banker's response Sir Patrick Gillam Lecture The Global Banking Crisis: an African banker's response Mallam Sanusi Lamido Sanusi Governor, Central Bank of Nigeria Professor Judith Rees Chair, LSE Suggested hashtag for Twitter

More information

Vice-President Jyrki Katainen Euro changeover conference 25 September 2014, Vilnius. Introduction. Distinguished Guests, Ladies and Gentlemen,

Vice-President Jyrki Katainen Euro changeover conference 25 September 2014, Vilnius. Introduction. Distinguished Guests, Ladies and Gentlemen, Vice-President Jyrki Katainen Euro changeover conference 25 September 2014, Vilnius Introduction Distinguished Guests, Ladies and Gentlemen, It is a great pleasure to be here in Vilnius today to mark this

More information

GHANA S IMF PROGRAM - THE RISK OF FISCAL CONSOLIDATION WITHOUT STRONG FISCAL POLICY RULES. Commentary

GHANA S IMF PROGRAM - THE RISK OF FISCAL CONSOLIDATION WITHOUT STRONG FISCAL POLICY RULES. Commentary GHANA S IMF PROGRAM - THE RISK OF FISCAL CONSOLIDATION WITHOUT STRONG FISCAL POLICY RULES Introduction Commentary Mohammed Amin Adam, PhD Africa Centre for Energy Policy Following macroeconomic challenges

More information

Forecasting Chinese Economy for the Years 2013-2014

Forecasting Chinese Economy for the Years 2013-2014 Forecasting Chinese Economy for the Years 2013-2014 Xuesong Li Professor of Economics Deputy Director of Institute of Quantitative & Technical Economics Chinese Academy of Social Sciences Email: xsli@cass.org.cn

More information

IOE PERSPECTIVES ON THE POST 2015 DEVELOPMENT AGENDA JANUARY 2013

IOE PERSPECTIVES ON THE POST 2015 DEVELOPMENT AGENDA JANUARY 2013 IOE PERSPECTIVES ON THE POST 2015 DEVELOPMENT AGENDA JANUARY 2013 INTERNATIONAL ORGANISATION OF EMPLOYERS Disclaimer Articles posted on the website are made available by the UNCTAD secretariat in the form

More information

Governor's Statement No. 34 October 9, 2015. Statement by the Hon. BARRY WHITESIDE, Governor of the Bank and the Fund for the REPUBLIC OF FIJI

Governor's Statement No. 34 October 9, 2015. Statement by the Hon. BARRY WHITESIDE, Governor of the Bank and the Fund for the REPUBLIC OF FIJI Governor's Statement No. 34 October 9, 2015 Statement by the Hon. BARRY WHITESIDE, Governor of the Bank and the Fund for the REPUBLIC OF FIJI Statement by the Hon. Mr. Barry Whiteside, Governor of the

More information

The Macroeconomic Situation and Monetary Policy in Russia. Ladies and Gentlemen,

The Macroeconomic Situation and Monetary Policy in Russia. Ladies and Gentlemen, The Money and Banking Conference Monetary Policy under Uncertainty Dr. Sergey Ignatiev Chairman of the Bank of Russia (The 4 th of June 2007, Central Bank of Argentina, Buenos Aires) The Macroeconomic

More information

Fiscal Space & Public Expenditure on the Social Sectors

Fiscal Space & Public Expenditure on the Social Sectors Briefing Paper Strengthening Social Protection for Children inequality reduction of poverty social protection February 2009 reaching the MDGs strategy security social exclusion Social Policies social protection

More information

ANNEX FRAMEWORK OF COOPERATION FOR AFRICA TURKEY PARTNERSHIP

ANNEX FRAMEWORK OF COOPERATION FOR AFRICA TURKEY PARTNERSHIP ANNEX FRAMEWORK OF COOPERATION FOR AFRICA TURKEY PARTNERSHIP The Heads of State and Government and Heads of Delegation of Africa, representing the Continent and the African Union and its Institutions;

More information

F A C T S H E E T. EU-US Summit (Brussels, 26 March 2014) and EU-US relations

F A C T S H E E T. EU-US Summit (Brussels, 26 March 2014) and EU-US relations Brussels, 24 March 2014 140324/01 F A C T S H E E T EU-US Summit (Brussels, 26 March 2014) and EU-US relations The Leaders of the European Union and the United States of America will meet on 26 March 2014

More information

Climate Change and. Environment Position. Statement. and 2017 Action Plan. action. Statement. Action Plan. September 2014

Climate Change and. Environment Position. Statement. and 2017 Action Plan. action. Statement. Action Plan. September 2014 1 action September 2014 Westpac Group has a long-standing commitment to operating sustainably. 3 Helping future generations For us, this is about helping future generations live better lives in a healthy

More information

VIETNAM CURRENCY: GOING GOING DONG? British Embassy, Hanoi

VIETNAM CURRENCY: GOING GOING DONG? British Embassy, Hanoi VIETNAM CURRENCY: GOING GOING DONG? British Embassy, Hanoi March 2009 VIETNAM CURRENCY: GOING GOING DONG? SUMMARY 1. A devaluation of the Vietnamese Dong (VND) looks almost inevitable in 2009. The question

More information

Concept Note and. Call for Papers

Concept Note and. Call for Papers Concept Note and Call for Papers AFRICAN ECONOMIC CONFERENCE 2015 ADDRESSING POVERTY AND INEQUALITY IN THE POST 2015 DEVELOPMENT AGENDA Kinshasa, Democratic Republic of Congo 2-4 November, 2015 1 1. Introduction

More information

Working together for global debt justice

Working together for global debt justice Working together for global debt justice The choice facing us at the referendum on Scotland s future is the most important decision of our lifetimes. The decision we make will have significant consequences

More information

Ed Miliband MP, Leader of the Labour Party, speech to the CBI

Ed Miliband MP, Leader of the Labour Party, speech to the CBI Ed Miliband MP, Leader of the Labour Party, speech to the CBI Monday 10 November 2014 It is great to be here with you, representatives of British business today, celebrating the work that you do day-in,

More information

Sustainable jobs, secure incomes and social protection

Sustainable jobs, secure incomes and social protection 3 rd ITUC World Congress 18-23 May 2014 Berlin Sustainable jobs, secure incomes and social protection Framework for Action INTERNATIONAL TRADE UNION CONFEDERATION Sustainable jobs, secure incomes and social

More information

I am pleased to represent the World Bank Group on this important and critical occasion.

I am pleased to represent the World Bank Group on this important and critical occasion. Burundi Development Partners Conference October 29-30 Geneva, Switzerland Session: Interventions by the Sponsors of the Conference Remarks by Philippe Dongier Country Director: Burundi, Tanzania, Uganda

More information

Seventeenth Meeting April 12, 2008

Seventeenth Meeting April 12, 2008 International Monetary and Financial Committee Seventeenth Meeting April 12, 2008 Statement by Ms. Christine Lagarde Minister of Economy, Finance and Employment, France On behalf of France Statement by

More information

DRAFT REPORT. EN United in diversity EN 2011/2068(INI) 10.2.2012. on a resource-efficient Europe (2011/2068(INI))

DRAFT REPORT. EN United in diversity EN 2011/2068(INI) 10.2.2012. on a resource-efficient Europe (2011/2068(INI)) EUROPEAN PARLIAMT 2009-2014 Committee on the Environment, Public Health and Food Safety 10.2.2012 2011/2068(INI) DRAFT REPORT on a resource-efficient Europe (2011/2068(INI)) Committee on the Environment,

More information

NEW ZEALAND MISSION to the UNITED NATIONS

NEW ZEALAND MISSION to the UNITED NATIONS NEW ZEALAND MISSION to the UNITED NATIONS UNITED NATIONS GENERAL ASSEMBLY FIFTY-NINTH SESSION GENERAL DEBATE STATEMENT BY THE HONOURABLE PHIL GOFF MINISTER OF FOREIGN AFFAIRS AND TRADE OF NEW ZEALAND TUESDAY

More information

> WTO Director-General Roberto Azevêdo Opening Remarks

> WTO Director-General Roberto Azevêdo Opening Remarks Skip to content Français Español Search: Contact us Site map A-Z Hom e About WT O News an d events Trade topi cs WTO membershi p Document s and resources WT O and you home > wto news > 2014 press releases

More information

Sudan Economic Policies, Challenges and Constraints

Sudan Economic Policies, Challenges and Constraints The Republic of the Sudan Sudan Economic Policies, Challenges and Constraints International Conference Sudan & Europe: Prospects of Cooperation for Regional Peace and Development AUSTRIA10 11 OCTOBER2012

More information

Averting the Social Impact of the Global Financial Crisis

Averting the Social Impact of the Global Financial Crisis Averting the Social Impact of the Global Financial Crisis Recommendations of Anglicare Australia, Catholic Social Services Australia, UnitingCare Australia and the Salvation Army January 2009 Recommendations

More information

Sub-Saharan Africa. Strategy for Sweden s regional development cooperation in 2016 2021 MFA

Sub-Saharan Africa. Strategy for Sweden s regional development cooperation in 2016 2021 MFA MINISTRY FOR FOREIGN AFFAIRS, SWEDEN UTRIKESDEPARTEMENTET Strategy for Sweden s regional development cooperation in Sub-Saharan Africa 2016 2021 MFA 103 39 Stockholm Telephone: +46 8 405 10 00, Web: www.gov.se

More information

ADDRESS BY BANK OF UGANDA GOVERNOR EMMANUEL TUMUSIIME MUTEBILE TO THE

ADDRESS BY BANK OF UGANDA GOVERNOR EMMANUEL TUMUSIIME MUTEBILE TO THE ADDRESS BY BANK OF UGANDA GOVERNOR EMMANUEL TUMUSIIME MUTEBILE TO THE AFRICA TRADE INSURANCE AGENCY (ATIA) HIGH LEVEL SEMINAR ON POLITICAL RISKS AND FINANCING TRADE TRANSACTIONS IN AFRICA 21 ST AUGUST

More information

SWK 6061 LECTURE 2 SOCIAL SECURITY: DEFINITION AND CHOICES. Dr. Wong Hung ( 黃 洪 ) Associate Professor, Department of Social Work

SWK 6061 LECTURE 2 SOCIAL SECURITY: DEFINITION AND CHOICES. Dr. Wong Hung ( 黃 洪 ) Associate Professor, Department of Social Work SWK 6061 LECTURE 2 SOCIAL SECURITY: DEFINITION AND CHOICES Dr. Wong Hung ( 黃 洪 ) Associate Professor, Department of Social Work What is Social Welfare? The term welfare state is used when a nation has

More information

Global Alliance for Tax Justice

Global Alliance for Tax Justice Global Alliance for Tax Justice Position Paper and for The Third UN Conference on Financing for Development 19 March 2015 www.globaltaxjustice.org Introduction The substantial problem of illicit financial

More information

GLOBAL ALLIANCE FOR CLIMATE-SMART AGRICULTURE (GACSA)

GLOBAL ALLIANCE FOR CLIMATE-SMART AGRICULTURE (GACSA) GLOBAL ALLIANCE FOR CLIMATE-SMART AGRICULTURE (GACSA) FRAMEWORK DOCUMENT Version 01 :: 1 September 2014 I Vision 1. In today s world there is enough food produced for all to be well-fed, but one person

More information

Evolution of informal employment in the Dominican Republic

Evolution of informal employment in the Dominican Republic NOTES O N FORMALIZATION Evolution of informal employment in the Dominican Republic According to official estimates, between 2005 and 2010, informal employment fell from 58,6% to 47,9% as a proportion of

More information

It s a great pleasure to have the opportunity to talk to the School s students, alumni and academic staff this evening.

It s a great pleasure to have the opportunity to talk to the School s students, alumni and academic staff this evening. Address to the Melbourne Business School Mike Smith Chief Executive Officer, ANZ Good evening and thank you for the warm welcome. It s a great pleasure to have the opportunity to talk to the School s students,

More information

G20 Leaders Communiqué Brisbane Summit, 15-16 November 2014

G20 Leaders Communiqué Brisbane Summit, 15-16 November 2014 Council of the European Union PRESS EN PRESS RELEASE ST 16021/14 PRESSE 604 Brisbane, 16 November 2014 G20 Leaders Communiqué Brisbane Summit, 15-16 November 2014 1. Raising global growth to deliver better

More information

TAXATION AND AID FOR DOMESTIC RESOURCE MOBILIZATION (D.R.M.) AID: HELPING OR HARMING DOMESTIC RESOURCE MOBILIZATION IN AFRICA

TAXATION AND AID FOR DOMESTIC RESOURCE MOBILIZATION (D.R.M.) AID: HELPING OR HARMING DOMESTIC RESOURCE MOBILIZATION IN AFRICA TAXATION AND AID FOR DOMESTIC RESOURCE MOBILIZATION (D.R.M.) AID: HELPING OR HARMING DOMESTIC RESOURCE MOBILIZATION IN AFRICA My presentation deals with i. Definition and Importance of Domestic Resource

More information

WHO Consultation on the Zero Draft Global Mental Health Action Plan 2013-2020 International Diabetes Federation (IDF) Submission

WHO Consultation on the Zero Draft Global Mental Health Action Plan 2013-2020 International Diabetes Federation (IDF) Submission WHO Consultation on the Zero Draft Global Mental Health Action Plan 2013-2020 International Diabetes Federation (IDF) Submission The International Diabetes Federation (IDF), an umbrella organisation of

More information