GFDD Attends High Level Debate on State of the World Economy

May 21, 2012

Global Foundation for Democracy and Development attended the High Level Thematic Debate (HLTD) on the State of the World Economy and Finance in 2012,  held in New York on 17-18 May 2012, under the sponsorship of the Secretary-General of the United Nations, Mr. Ban-ki Moon (SG) and the President of the General Assembly (PGA) H. E. Mr. Nassir Abdulaziz Al-Nasser.

Following the adoption of Resolution 65/313 by the
General Assembly, entitled Follow-up to the Conference on the World Financial and Economic Crisis and Its Impact on Development. The negotiations focused on the ongoing adverse impact of the world financial and economic crisis, particularly on development. Although global growth is returning, there is still a need to sustain this fragile and uneven recovery and to continue to address the systemic fragilities and imbalances. The United Nations, because of its
universal membership and legitimacy, provides a key forum for discussing international economic issues and their impact on development. The UN is also well positioned to participate in various reform processes aimed at improving and strengthening the effective functioning of the international financial system and architecture.

The HLTD provided an informal setting to share viewpoints and put forth recommendations aimed at contributing to global collective efforts to
secure a sustained, inclusive and equitable recovery of the world economy, while taking into account the specific needs of the world’s poorest and most vulnerable.

Through the convening power of the General Assembly, the HLTD was designed to create support among Member States by attracting Heads of Government, Ministers of Financial and Economic Affairs and Ministers of Foreign Affairs, as well as Heads of relevant multilateral organizations, regional development banks
and central banks to engage in dialogue and offer recommendations for improving the global economic and financial situation.

Following the HLTD, GFDD — an active member of  the Committee on Financing for Development (FfD) — was one of only two NGO’s invited to attend a luncheon hosted by the 66th President of the General Assembly’s, Special Coordinator for Third Committee and Civil Society, in honor of the Debate’s speakers, including Jean
Pierre Diserens, Secretary-General, Convention of Independent Financial Advisors ( FICA), and Professor William Black of the Department of Economics and Law, University of Missouri-Kansas City.