September 22-23-2010High-level Plenary Meeting of the General Assembly on the Millennium Development Goals
Special meeting of ECOSOC with BWIs, WTO & UNCTAD
Pursuant to ECOSOC resolution 2009/30 of 31 July 2009, the Special high-level meeting of ECOSOC with Bretton Woods institutions, World Trade Organization and United Nations Conference on Trade and Development was held on 18 and 19 March 2010 at UN Headquarters. The overall theme was “Building on Monterrey and Doha: towards achieving the internationally agreed development goals, including the Millennium Development Goals”.
The meeting has resulted in a summary by the President of ECOSOC as a substantive input to the preparation of the High-level Plenary Meeting of the General Assembly on MDGs (New York, 20-22 September 2010).
_____ Follow-Up
MARCH 23 -24- 2010 - UNITED NATIONS "THE MONTERREY CONSENSUS AND DOHA DECLARATION"
General Assembly
Sixty-fifth session
Item 19 of the preliminary list*
Follow-up to and implementation of the outcome of
the 2002 International Conference on Financing for
Development and the 2008 Review Conference
http://www.un.org/esa/ffd/documents/10-ECOSOC-BWI-Summary-Final_AUV_20.05.10.pdf
45. Several participants noted the importance of strengthening of regulatory mechanisms for financial flows, the need for an international sovereign debt restructuring mechanism and the need to consider setting up regional monetary funds. Some participants also urged that consideration be given to reforming the existing reserve currency system based essentially on one national currency, the United States dollar.
It was considered important to start discussions on an international reserve currency including broadening of the existing SDR arrangements.
46. In addition, the problems of financial speculation and possible ways of addressing it were raised by a number of speakers. In this regard, reference was made to various possibilities, including the imposition of a financial transactions tax and domestic capital controls. One participant also lamented the fact that the responses of financial markets were often taken as valid judgment of national policies, misleading some Governments to implement unsound policies.
47. While discussing issues pertaining to international trade, some speakers pointed out that exchange rates did not constitute a key element in restoring trade balance. Some participants emphasized the need to reduce barriers to international trade and to arrive at a successful conclusion to the Doha Development Round. In this regard, the concerns of land-locked states were also emphasized, including their need for, among other things, freedom of transit. Moreover, one participant stressed the importance of labour standards in the context of international trade and the need to note their consistency with the objective of achieving the MDGs
