Financing for Development: Global Economic Solutions Now!
This event is part of the virtual Global People's Assembly. The assembly is part of the Global Week of Action for the SDGs and is organised in parallel to the UN General Assembly.
At the 2021 Financing for Development (FfD) Forum, in the midst of an unprecedented global crisis, it is unconscionable that the world’s governments agreed to adopt an FfD outcome document filled with rhetoric and no action, sticking to business as usual. This status quo threatens the wellbeing of billions of people and makes the possibility of realising the Sustainable Development Goals and to respond to the expanding climate emergency more remote than ever. National level decisions, while important, are insufficient to ensure the required policy and fiscal space needed for a decolonial, feminist and just transition for people and planet.
The scope and gravity of the current crisis requires an ambitious multilateral response under the auspices, leadership and coordination of the United Nations, but the FfD outcome document failed to deliver it. Inequalities within and between countries have been magnified, while unpaid domestic and care work have once again augmented their already significant subsidy to the global economy, acting as a primary shock absorber. The crisis has further exposed the lack of implementation of universal social protection floors and lack of access to decent work.
Despite seductive narratives, powerful forces are already at play to use the crisis to further consolidate the already skewed concentration of economic and political power in few hands. We cannot allow this to happen. We call on governments to step up and demonstrate much-needed leadership in the following weeks within UNGA to ensure progress on key systemic reforms on debt, illicit financial flows including tax dodging, trade etc.
The event will feature presentations on upcoming civil society campaigns on global economic solutions to mobilise jointly around structural transformation. The time to act is NOW!
- Jason Braganza, AFRODAD
- Iolanda Fresnillo, Eurodad
- Chenai Mukumba, Tax Justice Network-Africa
- Patricia Miranda, LATINDADD
- Ranja Sengupta, Third World Network