UN DESSA Finance For Dev (FFD) Priority Areas

Subject: [NGO News]: DESA NGO News – 18 March 2013
Ravi Karkara <ravkarkara@gmail.com>
DESA NGO News – 18 March 2013
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 Sovereign debt restructur​ing: UN takes a big step forward

Dear colleagues, 

The UN General Assembly has passed a landmark resolution that mandates the UN to create a “multilateral legal framework for sovereign debt restructuring”. Promoted by the G77 countries and triggered by the aggressive vulture funds lawsuits against Argentina, this resolution could be a game changer for the way future debt crises are managed. First and foremost, it has shifted the forum for political debate away from the International Monetary Fund (IMF) towards the UN.  However, shamefully the EU’s vote was split over this crucial decision.

The path towards a real debt restructuring regime

It is certainly not news that the lack of a legal framework for sovereign debt restructuring – a state insolvency regime – has been a gaping hole in the international financial architecture. Prominent economists such as Joe Stiglitz, senior officials such as the IMF’s former Deputy Director Anne O. Krueger and civil society campaigners have pointed again and again to this deficit.

However, governments from both debtor and creditor countries have so far been reluctant to put their political weight behind any meaningful initiative. The most relevant political commitment is probably the Monterrey Consensus’ vague commitment to “consider” new debt workout mechanisms. The most relevant practical work, on the other hand, was the IMF’s concept for a Sovereign Debt Restructuring Mechanism, which was shelved 11 years ago when it faced a political deadlock in the US and EU-dominated IMF Executive Board.

Never miss a good crisis

Remarkably, even the global financial crisis has not led to any meaningful political initiative by governments since 2008. It was civil society campaigns that kept the flame burning until the issue was picked up last year by the staff of international organisations, when the IMF issued a staff paper and the UN set up expert groups on new debt workout mechanisms at the UN Conference on Trade and Development (UNCTAD) and the UN Department of Economic and Social Affairs (DESA).

Then came the rather surreal vulture fund lawsuit of NML Capital vs Argentina at a provincial court in the US state of New York, and Judge Thomas Griesa’s ruling to pay out the vultures in full. He interpreted the pari passu (equal treatment) clause in an extraordinary way and – probably as an unintended side-effect – kicked the whole contemporary sovereign debt restructuring non-regime into the dustbin.

Basically all the experts agree that debt restructurings as we knew them, which used to depend on the voluntary participation of creditors, simply don’t work anymore if holdout creditors can achieve full payment through litigation. Restructuring decisions must be binding for all creditors and must be enforceable, hence the need for a multilateral legal framework.

Debtor countries drive the issue forward

Argentina’s bold move of proposing a UN General Assembly (UNGA) Resolution – and successful mobilisation of the whole G77 as well as China to back this Resolution – represents a long overdue political breakthrough. Finally, a critical mass of governments is willing to act. Most remarkably, while governance reform processes in the area of sovereign debt restructuring used to be dominated by creditor nations, or creditor-dominated institutions such as the IMF, debtor nations have now finally taken the driving seat. The Resolution was voted on yesterday, on 9 September 2014, and was passed with a large majority: 124 UN Member States voted in favour, 41 abstained, and only 11 voted against.

UN takes centre stage

When looking at the debate that took place around the vote, it becomes clear that any conflict was not so much about whether there should be a legal framework or not. Only the USA, one of the few ‘no’ voters, stated that this was counter-productive. For the other countries that spoke out, the question was more whether the UNGA should be mandated to take it on, or if this should be left to the IMF.

Developing countries made it clear that the UNGA, as the most inclusive forum, is the right place for political debate and decision-making to take place. Debt restructuring is simply too important to be left to the IMF, in whose board developing countries do not have a significant stake, and which, as a major creditor, would face an impossible conflict of interest.

All BRICS countries (Brazil, Russia, India, China and South Africa) voted in favour of the Resolution, another expression of their dissatisfaction with the stalled governance reform at the IMF. Of the five countries that have the largest share of voting rights and their own Executive Director at the IMF, four voted no (USA, Japan, Germany and the UK). The EU vote was split; the majority of European nations abstained. The EU speaker, Italy, stated the key reason for abstaining was that the G77 initiative was simply too rushed.

European governments’ voting behaviour is shameful, as this continent is currently the most vulnerable to debt crises. As things stand, Europe is in most urgent need of a better state insolvency regime. However, at the next stages of this process, EU leaders will have the opportunity to engage constructively and to listen to their citizens. Ahead of the vote, a large coalition of European civil society organisations, including Eurodad, called on European governments to vote in favour of the Resolution. This might have helped to shift some European votes from ‘no’ to abstention.

The next steps

In any case, the G77’s support was sufficient to help the Resolution pass. However, this represents just the beginning, not the end, of a process leading to a multilateral framework for sovereign debt restructurings. The next step will be that the UNGA decides on the modalities of the intergovernmental negotiations.

The character this new multilateral framework will take will be subject to political power plays in the future. For us as civil society organisations campaigning for just solutions to debt crises, it is key that a legal framework does not only make binding and enforceable decisions, but that it also reduces the human suffering that debt crises cause, and also addresses the question of illegitimate debts.

We therefore share the view of the UN Special Rapporteur on Debt and Human Rights that “international  human  rights  law  should  be  considered  as applicable  law  in  the  context  of  debt restructurings”. On 25 September 2014, the UN Human Rights Council will vote on a complementary resolution that places debt restructurings firmly in the context of human rights. We hope that Europe will take a more constructive position when it gets its second chance later this month.     

Bodo Ellmers Policy and Advocacy Manager – Debt and Responsible Finance

  Eurodad, European Network on Debt and Development

Tel: + 32 2 894 46 51

Skype: eurodad-bodo

Email: bellmers@eurodad.org Rue d’Edimbourg, 18-26. Brussels 1050. Belgium

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DESA News May 2014: Islands 2014, Indigenous Peoples, Sustainabl​e cities

http://www.un.org/en/development/desa/newsletter/desanews/2014/05.html

 Call for nominations, see details below.  Please share with your colleagues and networks.  Let us know if you are interested.

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From: Paul Quintos <pquintos@iboninternational.org> Date: Tue, Apr 8, 2014 at 9:05 PM Subject: A Global Partnership of Solidarity or Global Partnerships for Wealth? To:

-- 
Paul Quintos
IBON International
3rd Flr., IBON Center
114 Timog Avenue,
Quezon City 1103
Philippines
Telefax: +63 2 9276981

Skype ID: paul.quintos
Websites: iboninternational.org
peoplesgoals.org

Sign on Statement.Global Partnership.final 2014Apr8

TO UN DESA NGO MAJOR GROUP

All Major Groups and other stakeholders are invited to a General Information meeting taking place today, 5:30 pm – 6:30 pm. Take elevator at UN lobby to 27th floor, Room 2727.

TO UN DESA NGO MAJOR GROUP — FYI — OWG 10 and SIDS Zero Draft

The OWG co-chairs released the following documents (also attached) in preparation for OWG 10 taking place 31 March – 4 April.

• All documents are available      at http://sustainabledevelopment.un.org/index.php?menu=1549
• Registration for ECOSOC      accredited organizations is at http://sustainabledevelopment.un.org/owg10.html
• Wednesday, 2 April, 3 – 6 pm,      Major Groups and other Stakeholders Programme – to be announced once      available
• The collated document of      responses from MGs and thematic clusters to the Focus Areas document and      its summary are now online athttp://sustainabledevelopment.un.org/owg9.html

The  zero draft of the 3rd SIDS Conference is online for consultation. 

Please read and react at http://www.sids2014.org/index.php?menu=1494  Registration for ECOSOC-accredited NGOs will be open by the end of the week for the Conference and last PrepCom. Shortly UN DESA will also open a special accreditation process for non-ECOSOC accredited NGOs interested in participating.

From: Jones, Debra <Debra.Jones@savethechildren.org>
Date: Wed, Mar 19, 2014 at 3:33 PM
Subject: OWG Revised Focus Areas Document and Programme of Work for OWG 10
To: “beyond2015unwg@googlegroups.com” <beyond2015unwg@googlegroups.com>

Dear all,

Please find attached the following documents which have just been released by the OWG Co-chairs today:

1.       Letter from the Co-Chairs, 18 March 2014 – Noting that they have made light revisions to the Focus Areas document reflecting the views at the last OWG session;

2.       Revised Focus Areas Document – 19 focus areas are still identified; we will provide a summary of the changes made between the previous Focus Areas document and the revised version in our NY Office post-2015 update at the end of the week;

3.       Annex Document of Interlinkages – Separating out the interlinkages for the 19 focus areas (these were included in the original Focus Areas document); and

4.       Programme of Work for the next session of the OWG (31 Mar-4 Apr).

In preparation for the next session of the OWG, the co-chairs propose to engage in a structured discussion by grouping the 19 focus areas into the following clusters:

Cluster 1        Poverty eradication, Promote equality

Cluster 2        Gender equality and women’s empowerment, Education, Employment and decent              work for all, Health and population dynamics

Cluster 3        Water and sanitation

Cluster 4        Economic growth,  Industrialization,  Infrastructure,  Energy

Cluster 5        Sustainable cities and human settlements, Promote Sustainable,                         Consumption and Production, Climate

Cluster 6        Conservation and sustainable use of marine resources, oceans and seas                      Ecosystems and biodiversity

Cluster 7        Means of implementation/Global partnership for sustainable development

Cluster 8        Peaceful and non-violent societies, rule of law and capable institutions

INVITATION  Feb 5th, 2014

The Permanent Mission of Germany to the UN,
The Permanent Mission of the Republic of South Africa to the UN,
The Office of the High-Commissioner for Human Rights, and
The United Nations Development Programme

cordially invite you to a

Briefing on the Global Thematic Consultation on Governance and the Post-2015 Development Framework

on the margins of the 8^th Session of the Open Working Group on Sustainable Development Goals

DATE: Wednesday 5 February 2014
TIME: 1:00 pm – 2:30 pm
VENUE: Trusteeship Council Chamber, United Nations Headquarters, New York

From October 2012 through March 2013, the Post-2015 Governance consultation provided a platform to discuss governance and accountability bottlenecks in the context of the MDGs. The consultation consisted of a series of regional meetings in Africa, the Arab region, Latin America and the Caribbean, and Asia, as well as an expert meeting on measurement, e-discussions, and a final meeting at the Pan-African Parliament in Johannesburg, South Africa. Throughout the consultation, a strong consensus emerged among participants on the relevance of governance as a foundation for sustainable development. The Briefing will present the consultation’s outcomes at the UN Headquarters in New York, as a contribution to the intergovernmental processes on Sustainable Development Goals and the Post-2015 development agenda.

MODERATOR:

• Ms. Radhika Balakrishnan, Executive Director, Center for Women’s Global Leadership, Rutgers University

SPEAKERS:

• H.E. Mr. Hans Peter Wittig, Permanent Representative of Germany to the United Nations
• H.E. Mr. Jeremiah Nyamane Kingsley Mamabolo, Permanent Representative of the Republic of South Africa to the United Nations
• Mr. Jeffery Huffines, United Nations Representative, CIVICUS

• Mr. Craig Mokhiber, Chief, Development and Economic and Social Issues, OHCHR
• Mr. Olav Kjørven, Special Advisor to the UNDP Administrator on the Post-2015 Development Agenda

For further information and inquiries, please contact

Serge Kapto
+1 212 906 6431
serge.kapto@undp.org

Nouhoum Sangare
+1 212 963 6136
sangaren@un.org

Jeffery Huffines

NGO Major Group Organizing Partner
CIVICUS UN Representative (NY)
Cell: +1 646-707-1060
Email: jeffery.huffines@civicus.org
Skype: jefferyvhuffines

CIVICUS: World Alliance for Citizen Participation
PO BOX 933, Southdale 2135, JHB, South Africa
www.civicus.org

Follow threats and take action to protect civil society – join Civil Society Watch at www.cswatch.org

 Please don’t print this e-mail unless you really need to. Thank you.

 OWG8 Governance Briefing in NY – Concept Note

 Invitation – Gov2015 Briefing-5Feb2014

 Agenda- Gov2015 Briefing-5Feb2014

TO RIO+20 NGO MAJOR GROUP

Happy New Year! NGO Organizing Partners Leida Rijnhout <Leida.rijnhout@eeb.org> and Jeffery Huffines <jeffery.huffines@civicus.org> look forward to welcoming members of the NGO Major Group who have registered to attend the Open Working Group taking place at UN HQ (NY) 6 – 10 January 2014. This session will review: sustainable cities and human settlements, sustainable transport (2 days); sustainable consumption and production (including chemicals and waste) (1.5 days); and climate change and disaster risk reduction (1.5 days).

• The program of work, side      events schedule, Issues briefs on the topic covered and other      supplementary information: http://sustainabledevelopment.un.org/index.php?menu=1679.
• The OWG 7 will also be webcast      all day here: http://webtv.un.org/
• A provisional list of relevant      side events can be accessed here:http://sustainabledevelopment.un.org/content/documents/2838OWG%207%20Sides%20Program%20WEB.pdf
• Organize position papers and      upload your written contributions through Major Groups thematic clusters      at: http://sustainabledevelopment.un.org/index.php?menu=1565
• Follow OWG at Twitter @SustDev      and @UN_DSD and give your feedback using #SustDev.
• Facebook links: https://www.facebook.com/UNRioplus20, https://www.facebook.com/UNSDKP

After each OWG afternoon session, Organizing Partners will host evening planning meetings for all Major Group constituencies (Conf Rm will be announced later). Moreover,each Major Group, including the NGOs, will meet just before the Morning Hearings from 9-10am prior to the start of the OWG session.

The Morning Hearings are an opportunity for Major Groups and other stakeholders to have a direct dialogue with the Co-Chairs on the SDGs and have experts in the field engage with the process prior to the start of the formal meetings. Attendance at these sessions will provide supplemental perspectives on the OWG themes from a civil society vantage point. As an OWG registrant, you are highly encouraged to attend. Subject matters for each of the sessions are listed below:

• List of      panelists/speakers:
• http://sustainabledevelopment.un.org/content/documents/2903SpeakerListMajorGroupsOWG7.pdf
• January 6: Sustainable cities      and Human Settlements
• January 7: Sustainable      Transport
• January 8: Sustainable      Consumption and Production (including chemicals and waste)
• January 9: Climate Change
• January 10: Disaster risk      reduction

Major Groups interventions at the OWG sessions themselves are solely coordinated through the Organizing Partners. NGOs interested in making 2 minute interventions during the OWG itself should contact Leida Rijnhout (leida@anped.org) and Jeffery Huffines (jeffery.huffines@civicus.org). Preference will be given to NGO representatives who represent the views of international networks and coalitions. Given the high demand for intervention, especially within the NGO Major Group, interventions are not guaranteed as they are selected by the OWG Co-Chair.

All registered NGOs should have received the attached updated confirmation letter, providing specific details about the meetings, and offering some lessons learned from past sessions. Also attached is a security note, outlining procedures for acquiring UN passes to the event. Please ensure that you are familiar with security procedures before arriving at UN Headquarters to make registration quick and simple prior to the start of the meeting. All the details, including the time during which you can pick up your UN passes, can be found in the security document. Please note that UN DESA will only be registering participants during the outlined times.

—
Jeffery Huffines
Rio+20 NGO Major Group Organizing Partner
CIVICUS UN Representative (NY)
Cell: +1 646-707-1060
Email: jeffery.huffines@civicus.org
Skype: jefferyvhuffines

CIVICUS: World Alliance for Citizen Participation
PO BOX 933, Southdale 2135, JHB, South Africa
www.civicus.org

Follow threats and take action to protect civil society – join Civil Society Watch at www.cswatch.org

Seventh Session of the Open Working Group (OWG) of the UN General Assembly (UNGA) on Sustainable Development Goals (SDGs)

6-10 January 2014 | UN Headquarters, New York, United States of America

 http://www.iisd.ca/sdgs/owg7/

The seventh session of the UN General Assembly’s (UNGA) Open Working Group (OWG) on Sustainable Development Goals (SDGs) will convene from 6-10 January 2014, at UN Headquarters in New York, US.

This will be the seventh formal meeting of the group since the UNGA’s adoption of Decision 67/555, which established the composition of the OWG and thus followed-up on the outcome of the 2012 UN Conference on Sustainable Development (UNCSD or Rio+20). OWG 7 will focus on the following topics:

*Sustainable cities and human settlements, sustainable transport

*Sustainable consumption and production (including chemicals and waste)

*Climate change and disaster risk reduction

IISD RS will produce daily web coverage and a summary and analysis from this session. Kindly return to this site on Monday, 6 January 2014, for more information.

Daily and summary coverage is available at http://www.iisd.ca/sdgs/owg7/

———————————————————————
Langston James “Kimo” Goree VI
Vice President, Reporting Services and United Nations Liaison
International Institute for Sustainable Development (IISD) — United Nations Office
300 E 56th St. Apt. 11D – New York, NY 10022  USA
Direct Line: +1 973 273 5860 Email: kimo@iisd.org Mobile phone (new!): +12128107701 Skype: kimogoree

Where: NYC

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