Publications

In the early days of the COVID-19 pandemic, the United Nations (UN) estimated that developing countries needed an extra US$ 2.5 trillion in external finance to cope with the consequences of the crisis. This vast sum is needed because additional spending needs – for example on health services and social protection – coincide with a simultaneous collapse of all traditional sources of development finance: tax revenue, export earnings, migrant remittances, foreign direct investment and, to a lesser extent, also official [...]

Lessons from the global COVID-19 crisis

This is the fifth edition of the report Spotlight on Sustainable Development. Since 2016, we have published this report annually to assess not only the implementation of the 2030 Agenda but also the structural obstacles in its realization.

When we started to plan for this year’s report in Autumn 2019, mass protests were shaking a growing number of countries in various regions of the world. In Ecuador, Brazil, Chile and Argentina, in Egypt, Lebanon [...]

This briefing paper looks at the financing for development (FfD) work at the United Nations in 2020, an exceptional year due to outbreak of the global coronavirus crisis in the spring. Following this shock, FfD became a highly relevant issue on the UN agenda. The FfD process as originally scheduled was redesigned, with the FfD Forum originally scheduled for April cut down from four days of face-to-face meetings to a virtual session that lasted for just one hour. An official [...]

Across the UN development system, Member States, the UN Secretariat and UN leadership are exploring the profound socio-economic impacts of COVID-19 and what macroeconomic policy changes are needed to “build back better”. From UN-led programme activity responses to COVID-19 to needed policy responses both by the Financing for Development process and Member State-led initiatives, there are several opportunities to monitor these developments in the coming weeks.

On 27 May, leadership of UN agencies headlines the final session of the Economic [...]

Member States adopted General Assembly Resolution “International cooperation to ensure global access to medicines, vaccines and medical equipment to face COVID-19” on 20 April under silence procedure. The resolution, drafted by Mexico and sponsored by 75 other delegations, states that the current crisis calls for:

• “rapidly scaling manufacturing and strengthening supply chains that promote and ensure fair, transparent, equitable, efficient and timely access to and distribution of preventive tools, laboratory testing, reagents and supporting materials, essential medical supplies [...]

The Financial Accountability, Transparency and Integrity (FACTI) Panel, a joint General Assembly and ECOSOC initiative established in early 2020, will hold a virtual consultation with Member States on 24 April. The Panel has made available an overview of existing mechanisms and a concept note of their work. Among their priorities will be addressing financial secrecy.

The Panel’s “Overview of Existing Mechanisms and Understanding Priorities” document notes that “moving from secrecy to transparency can improve accountability, but different countries [...]

At a briefing on COVID-19, Secretary-General Antonio Guterres stated: “We are in an unprecedented situation and the normal rules no longer apply. We cannot resort to the usual tools in such unusual times.”

The Secretary-General’s call for a global ceasefire in light of COVID-19 has already garnered significant support including from Member States and CSOs, receiving over 2 million signatures. Learn more and sign the petition here.

Introducing his report on the socio-economic implications of COVID-19 he stated [...]

By Elena Marmo

On 28 January 2020 the President of the General Assembly (PGA), Tijjani Muhammad-Bande, and the President of ECOSOC, Mona Juul announced a new initiative: “a high-level panel on international financial accountability, transparency and integrity (FACTI)”. This joint endeavour is framed as a means to target and recover assets for investment in the Sustainable Development Goals.

At present, the UN estimates the financing gap to achieve the Sustainable Development Goals (SDGs) totals a staggering $2.5 trillion. Proponents of [...]

By Elena Marmo

The Second Committee of the UN General Assembly, in charge of Economic and Financial Affairs, concluded its 2019 deliberations last November 27. Fifty resolutions were passed and discussion was closed on all but one agenda item: the Revitalization of the UN General Assembly. The range of the resolutions, dealing with sustainable development, macroeconomics, operational activities for development and countries in special situations show that the UN is relevant in macroeconomic and financing matters. More attention will be [...]

By Elena Marmo

As the dust of the UN General Assembly High-level week settles, the General Assembly and its committees continue their annual work on a myriad of issues. Across the upcoming meetings, the many themes discussed at the Sustainable Development Goals (SDG) Summit, High-level Dialogue on Financing for Development and High-level meeting on the SAMOA Pathway are salient and pivotal to shaping discussions on macroeconomic conditions for development and human rights.