High-Level Meeting on Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond - Part 1

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29-Sep-2020 03:49:55
A high-level meeting on financing the 2030 Agenda for Sustainable Development in the era of COVID-19 and beyond, co-convened by the Secretary-General and the Prime Ministers of Canada and Jamaica.

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The COVID-19 pandemic and the social and economic crisis it triggered has caused immeasurable suffering in the past six months. In some parts of the world, the pandemic is fast turning into a humanitarian crisis, threatening to push entire populations into a state of acute food deprivation and endangering the lives of millions of women, men and children. International cooperation and solidarity are imperatives to respond to the pandemic and ensure an inclusive and prosperous future.

On 28 May 2020, Canada, Jamaica and the Secretary-General convened a High-Level Event to join forces with Heads of State and Government, international organizations, and other key partners to enable discussions of concrete financing solutions to the COVID-19 health and development emergency guided by the roadmap set out in the 2030 Agenda for Sustainable
Development and seeking to leave no one behind.

To take stock and consider bold choices that now need to be made to secure our common future, Canada, Jamaica and the Secretary-General are convening a follow-up Meeting of Heads of State and Government on September 29th, 2020. The overall objective of the meeting is to consider the menu of policy options developed over the last four months with the ambition of supporting
Member States efforts in responding to and recovering from the current global crisis.

The ambition and partnership embedded in this effort, building on existing work of International Financial institutions and the United Nations, will feed into and mobilize discussions and decisions at high-level meetings such as the World Bank and International Monetary Fund annual meetings and the G20 Leaders’ Summit, in October and November, respectively.

In follow up to the High-Level Event on May 28th, six Discussions Groups were convened to address questions of (1) external finance and remittances, jobs and inclusive growth; (2) recovering better for sustainability; (3) global liquidity and financial stability; (3) debt vulnerability; (5) private sector creditors engagement; and (6) illicit financial flows.

Each Discussion Group was co-led by Member States and supported by the United Nations. Membership included Member States, represented by Ministries of Finance, as well as more than 250 institutional partners – international financial institutions, international organizations, private sector and civil society representatives, think tanks and academic institutions.

The Groups received further logistical, technical and substantive support from 20 specialized UN entities, funds and programmes, and received regular input from United Nations Country Teams. Group co-leads met on several occasions to enhance coordination and coherence across the outcomes of the six Groups. Over 50 of the world’s top experts in their fields were also invited to
infuse scientific accuracy and cutting-edge research into the outcomes.

The result is a single, ambitious yet pragmatic menu of policy options for the short, medium and long term, supported by a set of six executive summaries containing key highlights of each Discussion Group. This package fully reflects the variety of needs and views of various stakeholders and, above all, those of Member States.

The menu of policy options have been distilled further to reflect to views expressed by Ministers of Finance from all continents received during a Meeting of Ministers of Finance that took place in early September 2020. The menu of policy options is not a negotiated document. It reflects a wide array of perspectives, priorities and offers pathways and opportunities for countries to respond to the socio-economic recovery, both in the immediate term and in the coming years.
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