left: Tarcisio Alvarez-Rivero, Economic Affairs Officer (UN / DESA) in charge of transfers of ESTs outlined work being done in DESA for each of the above action areas, and highlighted the development of new information dissemination tools such as website inventory of resources and tools, which is currently in planning and research.  These inventories will include information resources, funding requirements, recipient info, contact and program information from organizations in the UN system, NGOs, and non-UN bodies working in ESTs.

 

left: Zoltan Csizer, Director (UNIDO Cleaner Production and Environmental Management Branch, Sectoral Support and Environmental Sustainability Division) outlined UNIDO's activities which include removal of market and technology policy barriers, implementing monitoring systems, evaluating private-sector participation in developing countries, and jointly establishing 15 National Cleaner Production Centres (NCPCs) in developing countries and countries with economies in transition with many more planned. 

Photo (left to right) : Wilfredo Alangui (Philippines); Barry Herman FfD Secretariat; Asda Jayanama (Thailand).

centre: Barry Herman, Chief, International Economics Relations Branch (UN/DESA) gave a background of the Financing for Development (FfD) Preparatory Committee (prepcom) and its Bureau. Set up within UN/DESA, the FfD prepcom and its Bureau were mandated to organize consultations in preparation for a high-level intergovernmental Ministerial meetings regarding finance for development at 2001's GA. 

 

For more detailed information, visit the FfD website located at http://www.un.org/esa/analysis/ffd/ .

above right: Ambassador Asda Jayanama
Permanent Mission of Thailand to the UN 

"In July 997 when the financial crisis hit Asia, the typical western view was that it was caused by crony-ism, widespread corruption, the lack of good governance, poor management and operating inefficiencies – which may or may not have been true – but 6 months later it became clear that the crisis was due to something more fundamental involving the international financial system. The crisis was part of globalization." Jayanama also gave the book a positive review, saying that it was concise, accurate, very-focused on the international financial system, and written from a developing country perspective.

above left: Wilfredo Alangui
TEBTEBBA Foundation (Philippines), and the World Council of Churches

Alangui shared sentiments for the search for new financial architectures, citing that current imbalances lead to issues of security, the erosion of social fabric, leading to increased levels of crime, violence and unrest, inside and outside the home. Recommendations echo Martin Khor's prescriptive plan for developing countries to retain their own domestic policies, to slow down and claw back financial liberalization in developing countries, and scrutinize multi-lateral financial agreements. The international financial system thus needs to properly address issues of economic vulnerability in developing countries and, in doing so, should search for the solution within systemic dysfunctionality.

 

left: Kamal Malhotra, 
Sr. Civil Society Advisor (UNDP).

During the '97 economic crisis, the need for responsible financial architecture reform was clearly articulated, but that initial hope has faded, and efforts to date have been superficial. Malhotra outlined key elements of a responsible architecture hark back to basic principles: that economic and financial policies must be a means to sustainable development, rather than an end in themselves; financial capital flows should support the real economy of goods and services, rather than take on a life of their own; the financial architecture should increase the national autonomy of individual states rather than constrain them; and multi-partite participation is necessary and should make room for the role of the UN system. With this in mind, Malhotra's proposals include ensuring financial pluralism and hence more competition for the international financial institutions; scaling back the responsibilities of the IMF to its original mandates, while entrusting them to scrutinize all countries on equal footing; and strengthening and enhancing ECOSOC to incorporate financial considerations.