While the G20 efforts to manage global aggregate demand, exchange rate management and stronger regulation of the international financial sector have not worked out quite as planned, in Cannes the Group was further solidifying its role in directing the system of multilateral institutions. The G20 has assigned itself the job of determining international development cooperation policy. It is not the proper group to undertake such a job and it is not doing it well. A comment by Barry Herman
“International development cooperation” is understood here to mean the coherent and consistent application of the full panoply of policy measures that aim to boost economically, socially and environmentally sustainable and sustained development. By global agreement, it includes everything in the Monterrey Consensus, adopted in 2002 at the International Conference on Financing for Development, as well as the mandates and actions for sustainability that can be traced back to the “Earth Summit” of 1992 in Rio de Janeiro ...
Having avoided a deep depression, stabilized financial markets and recovered the ground lost during the crisis years, there is a growing belief in some policy circles that the global economy is back to normal. But UNCTAD's 2014 Trade and Development Report suggests that tight fiscal policy, flexibilisation of labour markets, active monetary policies and the reliance on buoyant asset prices cannot bring the world economy back to robust health.
South Asia is home to about 22% of the global population; about one third of the population is extremely poor, accounting for about 45% of the global poor living on less than the infamous US$1.25 per day. 70% of the South Asia population lives on less than US$2 per day. With Gini coefficients hovering around 0.35, poverty while omnipresent is less unequal than in many countries of Africa and Latin America.
The EU purports to be part of the solution in Ukraine. Particularly, the EU continues to claim that the proposed Association Agreement will contribute to solving the economic problems of the country. EU Commissioner for Enlargement, tefan Füle, even raised the possibility of eventually offering an EU membership to Ukraine. There are, however, strong indications that the EU approach creates more problems than it solves.
The UN project of the Millennium Development Goals (MDGs) adopted at the UN Summit in 2000 is to expire in 2015. Discussions on a new international post-2015 development approach have started and are pursued in New York, Geneva, and Brussels, and in many capitals all over the world by international organizations, governments and civil society. A personal contribution to the debate.