FINANCE Minister Pravin Gordhan will this week chair a meeting of finance ministers from 54 Commonwealth countries in Washington. The purpose of the meeting is to identify new ways of raising funds for development and ensuring aid effectiveness.
The meeting, which takes place during a period of particular global economic and financial uncertainty, will be held tomorrow at the International Monetary Fund's (IMF) headquarters and takes place during the annual meetings of the World Bank Group and the IMF.
Among key areas of focus will be continuing discussion of how relationships between the Commonwealth and the Group of 20 most industrialised countries might be strengthened and discussions on accelerating development and achieving the Millennium Development Goals with more effective aid.
Exploring innovative ways of raising finance in an increasingly resource-constrained environment is another important topic.
Kamalesh Sharma, Commonwealth secretary-general, said the timing of the meeting wasperfect .
"With the volatility in the world markets, increasing job losses, rising food prices and rising debt problems across the globe, this meeting is timely to explore ways of dealing with these multiple crises," Sharma said.
He added that the items on the agenda were central to informing policy research and analysis as well as the advocacy work of the Commonwealth secretariat.
"Innovative finance, for example, is a major development issue. There is a need to explore and develop new ways to raise additional finance to secure balanced growth and to meet critical development challenges such as climate change mitigation and adaptation as well as the Millennium Development Goals," Sharma said.
Discussions on accelerating development will examine what collective efforts need to be made by donors, developing countries and other stakeholders to improve the impact and effectiveness of aid.
Gordhan to chair vital global talks
FINANCE Minister Pravin Gordhan will this week chair a meeting of finance ministers from 54 Commonwealth countries in Washington. The purpose of the meeting is to identify new ways of raising funds for development and ensuring aid effectiveness.
The meeting, which takes place during a period of particular global economic and financial uncertainty, will be held tomorrow at the International Monetary Fund's (IMF) headquarters and takes place during the annual meetings of the World Bank Group and the IMF.
Among key areas of focus will be continuing discussion of how relationships between the Commonwealth and the Group of 20 most industrialised countries might be strengthened and discussions on accelerating development and achieving the Millennium Development Goals with more effective aid.
Exploring innovative ways of raising finance in an increasingly resource-constrained environment is another important topic.
Kamalesh Sharma, Commonwealth secretary-general, said the timing of the meeting wasperfect .
"With the volatility in the world markets, increasing job losses, rising food prices and rising debt problems across the globe, this meeting is timely to explore ways of dealing with these multiple crises," Sharma said.
He added that the items on the agenda were central to informing policy research and analysis as well as the advocacy work of the Commonwealth secretariat.
"Innovative finance, for example, is a major development issue. There is a need to explore and develop new ways to raise additional finance to secure balanced growth and to meet critical development challenges such as climate change mitigation and adaptation as well as the Millennium Development Goals," Sharma said.
Discussions on accelerating development will examine what collective efforts need to be made by donors, developing countries and other stakeholders to improve the impact and effectiveness of aid.
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