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Governments take big step towards ending debt crises

Developing countries vote united for a new regime, EU is divided 10th September 2014 The way debt crises are managed could change forever following a UN General Assembly (UNGA) resolution paving the way for an international treaty to manage sovereign debt crises. The resolution, which was passed by 124 votes to 11 yesterday (Tuesday at 21:30 CET), gives the UN the mandate to create a multilateral legal framework for debt restructuring. For the first time since the United Nations began negotiating ...

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Financing for Development - Where is the UN heading?

Bodo Ellmers

31 Oct 2013 14:10:17

The United Nations' Sixth High-Level Dialogue on Financing for Development (FfD) that took place in New York in early October shows a deep rift between developing and developed countries. This dialogue was mandated to look at the FfD Agenda's status of implementation and the tasks ahead.  While the EU thinks it contributed at least its fair share, developing countries pointed to the major failures in implementation of aid, debt or trade commitments. The future of the FfD process remains unclear.  Slow Implementation For the EU – the only rich countries that bothered to issue a statement at the meeting - the state of financing for development 11 years after the first UN World Conference, held in Monterrey, on the subject seems just fine. The EU's representative ...