Will a new IDC Convention abandon or weaken the existing commitments?

The rationale for an IDC Convention is largely grounded in the failure to deliver on existing commitments on both the quantity and quality of aid. Using OECD data, Oxfam calculated “the ‘aid debt’ by totalling the gap between what was promised, 0.7% of GNI, and what has been delivered. This aid debt goes back to 1970 when the 0.7% target was set. We found that this gap has grown to $7.2 trillion.” The foundation of the Convention would be this and the many already universally recognised commitments.

A new Convention would not imply walking back existing commitments, but would aim to incorporate and strengthen the existing commitments that governments have already made. A Convention could draw inspiration from the principle of Common but Differentiated Responsibilities where all governments convene under a shared framework but have different obligations and responsibilities under that framework.