Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


UN needs greater global economic role, Clark says

UN needs greater global economic role, Clark says

By Paul McBeth

Nov. 13 (BusinessDesk) - The United Nations needs a greater role in coordinating global economic decisions, with finance ministers attending a beefed up body to ensure not just the largest economies set the agenda, says UN Development Programme chair Helen Clark.

With organisations such the G20, comprising of the world's 20 biggest economies, dominating measures to shore up growth after the global financial crisis, many other states were at risk of being affected without having a voice, Clark said in a lecture in Wellington. That could be eased by a stronger economic body at the United Nations provided it could attract the world's finance ministers to help coordinate a global response.

"A reformed ECOSOC (economic and social council) which attracted finance ministers to its proceedings would also give the UN a more effective forum and voice on economic and financial issues," she said.

Clark was speaking at Victoria University as part of a series on international governance in lecture lecture entitled 'Improving Global Governance: making global institutions fit for purpose in the 21st century'.

When asked how global bodies could improve their ability to respond to shocks such as the global financial crisis, Clark said international entities are probably better prepared now than they had been, but ongoing reform is still needed.

She cited the inability of members to reach meaningful consensus on climate change as a major issue for her as the head of the UN's development programme, but noted an increasing role taken by non-state actors, such as non-governmental organisations and the private sector.

The issue of permanent membership to the UN Security Council, and the veto right held by those members were sticking points for the organisation, and Clark said the recent events in Syria may revive an impetus for change.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Consents And Taxes: Trustpower 'very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news