ECOSOC Debate on Global Economic Governance Emphasizes Inclusive System

ECOSOC16 May 2013: During an informal ECOSOC debate on the UN's role in global economic governance, ECOSOC President Néstor Osorio said a more effective and inclusive global governance system is necessary to ensure the Millennium Development Goals (MDGs) are achieved and an actionable post-2015 development agenda is established.

During the event, which took place on 16 May, at UN Headquarters in New York, the ECOSOC President also said that: a post-2015 development agenda will require a more structural, inclusive and systemic approach to address current and emerging challenges; the UN plays a central role in global economic governance by gathering political will and policy coordination at the international level; and efforts should be made to enhance the accountability, effectiveness and coherence of the UN system. Osorio suggested that ECOSOC's Annual Ministerial Review, if strengthened, could be the forum for monitoring implementation of the post-2015 development agenda.

Osario also went on to explain that the Development Cooperation Forum (DCF) could expand its role as a driver for greater national and global accountability in development cooperation. The DCF, organized bi-annually by ECOSOC, brings together policymakers, civil society organizations, parliamentarians, local authorities and foundations to review development cooperation trends, debate ways to improve the quality and effectiveness of such cooperation, and increase its impact on development goals. Osorio also highlighted the importance of: an effective strategy for financing sustainable development in the follow-up to Rio+20; and including civil society and the private sector in the dialogue on the post-2015 development agenda priorities.

ECOSOC Vice-President Masood Khan and Committee for Development Policy Chair José Antonio Ocampo also addressed the meeting. [Press Release on ECOSOC Debate]