Latin America & the Caribbean

New Development Bank Opens for Business [viewed]

ndb21 July 2015: The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, a multilateral development bank (MDB) operated by the BRICS group of countries (Brazil, the Russian Federation, India, China and South Africa), has begun its operations. The NDB will be headquartered in Shanghai, China, and each country will be assigned one vote, while no country will hold veto power.

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IAEG-SDGs Issues Timeline, Plans for Work Streams [viewed]

unstats10 July 2015: The UN Statistics Division (UNStats) has circulated a note outlining the tentative timeline, work plan and organization of work of the Inter-agency and Expert Group on the Sustainable Development Goals Indicators (IAEG-SDGs). Also available is an updated version of the list of proposed global indicators for the goals and targets of the post-2015 development agenda.

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Two-Week Session to Finalize Post-2015 Agenda Kicks Off [viewed]

announcementpost1520 July 2015: Opening the seventh session in the intergovernmental negotiation process on the outcome document of the UN Summit to adopt the post-2015 development agenda, the Co-Facilitators stressed the need to conclude negotiations by 31 July, and expressed confidence in UN Member States' ability to "do great things."

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ECLAC Calls for Caribbean SIDS Debt Relief at FfD3 [viewed]

logo_ffdiii16 July 2015: In the lead up to agreement on the Addis Ababa Action Agenda (AAAA) by UN Member States at the Third International Financing for Development (FfD3) Conference, the UN Economic Commission for Latin America and the Caribbean (ECLAC) advocated for regional perspectives and priorities to be reflected in the AAAA, organizing side events and bringing to Addis Adaba a proposal for a debt forgiveness mechanism for Caribbean small island developing States (SIDS).

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UN Regional Commissions Call for Effective Fiscal Policies, Global Tax Reform [viewed]

United Nations14 July 2015: The UN Regional Commissions highlighted the need for effective fiscal policies and global tax reform in the quest for sustainable and inclusive development during a roundtable event that featured Nobel Laureate Joseph Stiglitz. The event, titled 'Regional Perspectives on Implementing an Ambitious, Transformative Sustainable Development Agenda,' took place on the sidelines of the Third International Conference on Financing for Development (FfD3) in Addis Ababa, Ethiopia.

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Member States Review Progress on SIDS Partnerships [viewed]

maldives_undesa25 June 2015: UN Member States, UN agencies and international organizations reviewed progress of partnerships and initiatives launched at the Third International Conference on Small Island Developing States (SIDS). The informal SIDS Partnership Dialogue, organized by Maldives and the UN Department of Economic and Social Affairs (DESA) as a follow-up to the Conference, took place on 25 June 2015, in New York, US.

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World Bank Group Issues Global and Regional Economic Projections [viewed]

world_bank_newJune 2015: The World Bank Group has issued the June edition of its Global Economic Prospects report. The report notes that global growth is expected to be 2.8% in 2015 before strengthening moderately to 3.2% in 2016–2017. It also indicates that developing country growth has been revised downward to 4.4% in 2015 due to falling commodity prices, the stronger dollar, and tightening financial conditions, but is “expected to pick up momentum” and reach 5.3% in 2016-2017.

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OECD and UNDP Launch 'Tax Inspectors Without Borders' at FfD Conference [viewed]

oecd-undp13 July 2015: The Organisation for Economic Co-operation and Development (OECD) and UN Development Programme (UNDP) launched the 'Tax Inspectors Without Borders' (TIWB) initiative at the Third International Conference on Financing for Development (FfD). The initiative aims to help developing countries increase domestic resource mobilization (DRM) by strengthening their tax audit capacities and is anticipated to help countries realize the post-2015 development agenda.

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ECOSOC Dialogue Focuses on Regional Transition to SDGs [viewed]

ECOSOC9 July 2015: Member States discussed the regional dimension of the transition from the Millennium Development Goals (MDGs) to the Sustainable Development Goals (SDGs) during the UN's Economic and Social Council (ECOSOC) annual Dialogue with the Executive Secretaries of the UN Regional Commissions. The Dialogue 'Managing the transition to the SDGs: What will it take at the Regional Level' took place on 9 July 2015 in New York, US.

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BRICS to Operationalize New Development Bank, Strengthen Energy Cooperation [viewed]

brics9 July 2015: At its seventh annual summit, the BRICS group of countries (Brazil, the Russian Federation, India, China and South Africa) announced the BRICS Economic Partnership Strategy through 2020, which aims to strengthen ties in energy, high technology, agriculture, science and education. The BRICS also adopted the New Development Bank and Contingent Reserve Arrangement, with a total capacity of US$200 billion.

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