UN DESA Releases World Economic Situation and Prospects 2016
January 29, 2016  //  By:   //  Blog Post, Featured, Publication  //  No Comment

When the international community conceived of the Sustainable Development Goals (SDGs), it was clear that the goals were to coordinate and drive much-needed action on sustainable development. There are hundreds of important development actors working on sustainable development. Governments, international organizations, NGOs, civil society organizations, and others all work on the same issues but have different agendas, perspectives, and resources. This leads to fragmentation of efforts which, in theory, is less effective than coordinated efforts.

Already, UN organizations are using the SDGs to structure their reports. UN DESA, the Department of Economic and Social Affairs, recently released its flagship World Economic Situation and Prospects 2016. In the report, UN DESA tackles issues like global financial stability, trade negotiations, and more. Much of their recommendations and analyses are done with the SDGs as context.

Perhaps most importantly, the report calls for “a coherent set of rules and policies that channel finance to support sustainable development” at the international level. Financing is complicated issue in international development, especially when it comes to global aspirational goals. Many of the goals are related to expensive or high-capacity structural changes in economies, public access to energy, and governance processes. Low-income countries will require additional access to financing if they are to achieve these goals in a reasonable amount of time. Moreover, large amounts of money already flow from high-income to low-income countries by way of development organizations and private investments, and with additional coordination, this financing can become more effective.

To read the full report on global finances and trade, click here.

About the Author :

Michael Denney is a PhD student in the Global Governance and Human Security program at the University of Massachusetts Boston. He is a Research Associate at the Center for Governance and Sustainability.

Leave a reply