UNCTAD participates in autumn meetings of IMF, World Bank and G24

08 November 2013

Senior UNCTAD officials have represented the organization at recent meetings of the International Monetary Fund (IMF), the World Bank, and the Group of 24 (G24).

Alfredo Calcagno, Head of UNCTAD's Macroeconomic and Development Policies Branch, attended sessions of the International Monetary and Financial Committee (IMFC) and the Development Committee. A statement by the Secretary-General of UNCTAD on the world economic situation was provided to the meetings.

Yuefen Li, Head of UNCTAD's Debt and Development Finance Branch, made a presentation at a meeting of the G24 on the objectives, economic and legal rationale, formulation process, and characteristics of the UNCTAD Principles on Promoting Responsible Sovereign Lending and Borrowing. She also spoke on strategies for implementing the Principles.

The G24, a group which coordinates the position of developing countries on monetary and development issues, held a consultative meeting for G24 Deputies on the UNCTAD Principles on 9 October in Washington, D.C., during the 2013 IMF-World Bank Annual Meeting. Around 50 representatives from G24 and non-G24 countries, multilateral organizations, non-governmental organizations, labour unions, think tanks, and regional organizations participated.

Responding to questions, Ms. Li said that the Principles were voluntary and their endorsement would depend on the decision-making processes of different countries. G24 Director Amar Bhattacharya, who chaired the meeting, emphasized the importance and relevance of the Principles.

Alongside representatives of other international organizations, Mr. Calcagno also participated in parallel meetings organized by the G20. These included a session of the Framework Group for Strong, Sustainable and Balanced Growth, where Mr. Calcagno provided ideas on development strategies.

In addition, Mr. Calcagno travelled to New York to present UNCTAD's Trade and Development Report 2013 to delegates at the United Nations General Assembly.