Abstract
The research paper entitled ‘Global Issues and Financing for Achieving Sustainable Development Goals’ is a unique research effort to analyze the current frontline global issues that is affecting the global economies at large. In these days of current global crisis, the COVID-19 global pandemic has emerged as not only a global health crisis but also a global humanitarian crisis. The research has made an attempt to study and analyze the cross cutting global issues including the present global pandemic which has taken a serious toll on humanity, but has also affected the various sectors of the global economies such as health, humanitarian, economic, social, geopolitical, environment etc., and other related cross-cutting issues which are vital determinants and key indicators in achieving the Sustainable Development Goals(SDGs). The paper also dwells into the aspect of global financing issues keeping in mind and including finding ways and means for containment of the present global health pandemic by looking into the various aspects of financing needs of the economies to enable these economies to come out of such serious economic shocks that has resulted and affected these economies due to the severe outbreak of COVID-19. The research paper also covers and studies other aspects of the global economies such as the Addis Ababa Action Agenda(AAAA) on cross cutting initiatives to develop and built-in synergies for achieving the SDGs, monitoring by the Inter-Agency Task Force on Sustainable Development and the Financing for Global Sustainable Forum(FfSD), upcoming events planned by FfSD, Global issues for FfSD Forum, ECOSOC and its role on International Cooperation in Tax Matters, Global Economic Governance, External Debt, Innovative Financing for Sustainable Development including Inclusive and Local Finance, Global Investors for Sustainable Development Alliance, key messages conveyed by the United Nations in their report on Financing for Global Sustainable Development 2020, important statements made by global experts of United Nations on issues pertaining to financing for achieving SDGs, COVID-19 and it impact on humanity in terms of human crisis, global health crisis and concerns, socio-economic and environmental aspects for sustainable long-term financing in various economies including the undeveloped LLDCs, SIDSs, African & Caribbean economies and the developing economies. The role of international multilateral institutions such as the World Bank, IMF, IFC, MIGA and other global financing institutions are of paramount importance in terms of financing these economies to come out of the global pandemic at the first instance and then in stabilizing these economies in the long-run. The important policy considerations and conclusions drawn from the research study is that the WHO and United Nations including other multilateral and financing institutions need to work in tandem not only to aid these economies to come out of the global pandemic, but also to strike a balance in terms of achieving the long-term SDGs slated by UN which are key indicators and determinants in achieving the SDGs in these economies.
Highlights
The Addis Ababa Action Agenda (AAAA) adopted by United Nations contains several key cross-cutting initiatives that build on the synergies of the Sustainable Development Goals (SDGs) and address critical gaps in their delivery
The COVID-19 pandemic is a defining moment for modern society and history will judge the efficacy of our responsibility by the actions of any single set of government actors taken in isolation, but by the degree to which the response is coordinated globally across all sectors to the benefit of our human family
The research has made an attempt to study and analyze the cross cutting global issues including the present global pandemic which has taken a serious toll on humanity, but has affected the various sectors of the global economies such as health, humanitarian, economic, social, geopolitical, environment etc., and other related crosscutting issues which are vital determinants and key indicators in achieving the Sustainable Development Goals(SDGs)
Summary
Sarangi / DUTCH J FINANCE MANA, 4(1), em0062 development Each of these initiatives can contribute to progress across a large number of SDGs. Because of the close links to the 2030 Agenda for Sustainable Development, monitoring by the Inter-Agency Task Force set up by United Nations will be able to draw on a large number of relevant SDG indicators, in particular for commitments focused on achieving specific outcomes. The Task Force will add to those as necessary, and provide greater specificity and detail to the monitoring of financial and non-financial means of implementation (MoI) (Source: Addis Ababa Action Agenda of the Third International Conference on Financing for Development, United Nations, New York, 2015). 2. Twentieth Session of the Committee of Experts in International Cooperation Matters 27-30 April 2020 New York, United States. The global issues encompassing the various countries addressed by FfSD Forum, UNDESA are: i) Domestic Public Resources ii) Private Business and Finance iii) Development Cooperation iv) Trade, Debt, Systemic v) Technology and Capacity vi) Global Economic Governance vii) External Debt viii) Innovation Finance ix) Inclusive and Local Finance x) Tax Cooperation
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