International Monetary Fund. External Relations Dept.
Development requires a holistic approach, says Kenyan Nobelist
In 2004, when the Nobel Committee awarded Kenya’s Wangari Maathai its Peace Prize, it cited “her contributiontosustainabledevelopment, democracy, and peace.” The committee made special mention of her work in founding the Green Belt Movement, which mobilized African women to plant more than 30 million trees, and her courageous stand against political oppression. Maathai, commended for combining “science, social commitment, and active politics,” is a member of parliament and Deputy Minister
Fiscal policy affects sustainable development through its effects on growth, the environment, and resource development. What are the relationships between fiscal policy and sustainable development, and how does the IMF seek to promote sustainable development in its policy advice? What lessons have been learned so far, and how can governments, the international community, and international financial institutions more fully support sustainable development?
effects operate at both a macroeconomic level and through the myriad ways in which governments’ tax and spending decisions affect incentives to work, spend, save, and invest.
Fiscal policy is central to the work of the IMF. The IMF’s mandate is to promote international monetary cooperation, the balanced growth of international trade, foreign exchange rate stability, and orderly foreign exchange arrangements among countries. Fulfilling this mandate is the IMF’s primary contributiontosustainabledevelopment. Within this general setting, fiscal policy plays a key role
, indigenous peoples and children in vulnerable situations.
4.6 By 2030, ensure that all youth and a substantial proportion of adults, both men and women, achieve literacy and numeracy.
4.7 By 2030, ensure that all learners acquire the knowledge and skills needed to promote sustainable development, including, among others, through education for sustainable development and sustainable lifestyles, human rights, gender equality, promotion of a culture of peace and nonviolence, global citizenship and appreciation of cultural diversity and of culture’s contributionto
Round. The EU’s objective for Cancun is to achieve meaningful progress in the DDA negotiations, which must: (1) address all DDA issues and reflect the interests of all WTO members, (2) better integrate developing countries in world trade, and (3) make a significant contributiontosustainabledevelopment. In light of the current state of the international economy, the EU considers the conclusion of the DDA to be particularly important in order to boost global economic growth and development opportunities.
In order to re-launch the agricultural negotiations, the EU
International Monetary Fund. External Relations Dept.
New IMF financial sector department; Short takes: Oman, C.A.R., Greece; Nobelist Wangari Matthai on sustainable development; Moldova and remittances; Financial globalization; VAT refunds; Emerging markets alter financial landscape.
This Selected Issues paper explores non-oil growth impediments in Chad to better understand why the Chadian economy has not sufficiently rebounded from the crisis. It discusses how the economy is held back by crisis legacies such as high public debt and a fragile banking sector and how Chad continues to face long standing structural weaknesses which hamper potential growth. Three years of recession in Chad have left important legacies that continue to affect fiscal policy and performance in the non-oil private sector and the banking sector. Public domestic debt more than doubled with the crisis. As the Chadian economy was hit by the oil shock, while dramatically cutting spending, the government had to rely on large domestic financing to cushion the impact of the shock. Although the government started paying arrears, the remaining stock is very large and presents a drag on the non-oil economy. The paper ends with a discussion of how Chad’s economic potential will require reforms to address those weaknesses to foster economic diversification.
, the mining sector’s contributiontosustainabledevelopment is an even bigger issue than revenue transparency. The advantage of the EITI is the simplicity of its approach. It can be a good starting point for a country seeking to improve the transparency of revenue flows from the sector, increase the potential to defeat the curse, and make sustainable development a priority. In that regard, revenue transparency should also be linked to how and where revenues are used. If the issue of revenue transparency is not linked to the broader objective of using the funds
experience may be as essential a contributiontosustainabledevelopment of the poorest nations as access to external savings. But these lessons cannot be forced on an unreceptive government or population, and this may indeed constitute the most serious obstacle to rapid improvements in the near term in several cases.
A second challenge is to strengthen and expand the open world trading and financial system and reduce its potential for disruption. Twentieth-century experience has shown that international trade and capital movements are essential to realize the vast
International Monetary Fund. Secretary's Department
concluding the most ambitious trade agreement ever. Let us do what we can—each of us—to make decisive progress on these counts as a forceful contributiontosustainability, development, social justice, and our common future in one world.
Statement by the Governor of the Bank and the Fund for India— Manmohan Singh
I would like to join my fellow Governors in welcoming the new members—the Czech Republic, the Slovak Republic, Croatia, Slovenia, Tajikistan, the former Yugoslav Republic of Macedonia, and the Federated States of Micronesia. The Bank and Fund have now