Urges larger role for fiscal policy in development, poverty alleviation; calls for international reforms, greater emphasis on domestic resources
Geneva, 21 September 2010 -- UNCTAD Secretary-General Supachai Panitchpakdi said Monday at the opening session of a three-day summit on the Millennium Development Goals (MDGs) that achieving these humanitarian targets -- which include halving extreme poverty by 2015 -- shouldn´t be separated from government and international fiscal policies, since economic growth is vital for broadly raising living standards and for making such progress sustainable.
Mr. Supachai, one of several speakers as the United Nations General Assembly began its 65th annual session, addressed the topic of how to achieve the MDGs despite the global financial crisis.
The summit is intended to take stock of progress so far towards the MDGs and to determine what shifts in strategy are needed to accomplish the goals by 2015.
Along with stressing the importance of sound, development-supportive fiscal policy, Mr. Supachai said that economic sectors crucial for alleviating poverty should be targeted. He told the meeting that developing countries should mobilize more domestic, private resources to fuel stable economic growth, as these resources - in addition to official development aid -- are crucial for stimulating the long-term productive investments that can alleviate poverty. And he called for a re-examination of global governance, citing the international architecture for aid, trade, and debt as examples of areas that may need reform.
In addition, the UNCTAD Secretary-General urged that efforts to achieve the MDGs pay more attention to income inequality, which has been steadily increasing. There is a correlation between poverty and income inequality, he told the summit, and progressive fiscal policies that serve to reduce these disparities could have an immediate and impressive impact on poverty reduction.
Also speaking at the opening session were Joseph Deiss, President of the 65th session of the GA, and Ali Abdussalam Treki, President of the 64th session. They are serving as co-chairs of the summit. They emphasized that "strength of community is measured by the well-being of the poorest."
In a keynote address, United Nations Secretary-General Ban Ki-moon told the meeting that "we are here to fight for a more equitable world." He said that while efforts to reach the MDGs have produced tangible results, more needs to be done.
Other speakers were Helen Clark, Administrator of the UN Development Programme; Hamidon Ali, President of the Economic and Social Council; Robert Zoellick, President of the World Bank; Dominique Strauss-Kahn, Managing Director of the International Monetary Fund; and Pascal Lamy, Director-General of the World Trade Organization. In their remarks they emphasized that support should be given to countries that are falling short of the MDGs. And they said that in the aftermath of the economic crisis, cooperation by both the public and private sectors is crucial to ensuring that the MDGs are met.
The high-level plenary will hold meetings over three days, concluding 22 September.
