Financing for Development
Fiji has called for a strengthening of mechanisms for financing of the Post-2015 development agenda at the United Nations today. The call came on behalf of the 133 Member States of the Group of 77 and China, in Fiji’s capacity of Chair of the Group, at the General Assembly's 6th High-level Dialogue on Financing for Development.
Fiji's Permanent Representative to the United Nations, Ambassador Peter Thomson, told the High-level meeting that, "the Group of 77 reiterates its view that the global and financial economic crisis cannot be a convenient justification for developed partners to avoid fulfilling existing international financial and technical cooperation for development.”
He said it was ironic that Overseas Development Assistance had continued to decline globally, at the same time that the world's Heads of Government had so recently reaffirmed their commitment to strengthening the global development agenda. He said this commitment had been given last month at the UN's Special Event on MDGs in order to accelerate progress towards a bold post-2015 development agenda, with poverty eradication and sustainability as its core.
Ambassador Thomson affirmed that the Group of 77 recognized that innovative mechanisms of financing can make a positive contribution to assisting developing countries. He said such innovations can, "mobilize additional resources for development on a stable, predictable and voluntary basis.”
Fiji’s representative told the General Assembly that a more inclusive framework of global economic governance is required in order to improve the functioning and stability of international monetary, financial and economic institutions. "Serious reforms are required to address systematic short-comings,” Ambassador Thomson told the meeting. "This requires a strengthened role and increased effectiveness from the United Nations, including high-level engagements with all relevant international and regional financial institutions.”