Announcing the United Nations System Chief Executives agreement to nine joint initiatives in response to the crisis

United Nations System: Chief Executives Board for Coordination (CEB)

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Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents Browse by Media Type 4-5-2009 Chief Executives Board for Coordination (CEB) Communique United Nations System: Chief Executives Board for Coordination (CEB) Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation United Nations System: Chief Executives Board for Coordination (CEB), "Chief Executives Board for Coordination (CEB) Communique" (2009). YPFS Documents. 1341. https://elischolar.library.yale.edu/ypfs-documents/1341 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. Final – EditedSecretariat of the United Nations SystemChief Executives Board for Coordination (CEB)________________________________________________________________________________________________CEB COMMUNIQUÉ5 April 2009Paris, FranceWe, the United Nations System Chief Executives, are meeting at a time of the worst global financial andeconomic crisis since the Great Depression of the 1930s. What began as a collapse of the US sub-primemortgage market has quickly spread through global financial markets impacting the real economy, underminingconsumer and business confidence and triggering further contraction in demand. World trade is falling andcommodity prices have declined sharply. The world faces multiple financial, economic and social crisescompounded by vulnerability from earlier food and energy crises. Livelihoods of rural and urban poor familiesare deteriorating rapidly. Jobs are being lost everywhere at an alarming pace. The crisis will affect all countrieswith a serious and disproportionate impact on the poorest. Accelerating trends of climate change presentunprecedented new risks and demand a fundamental reorientation of production and consumption patterns. It isimperative that we turn this crisis into an opportunity for a sustainable future.We welcome the historic decisions of the recent G-20 Summit and the commitment of $1.1 trillion ofadditional resources to address the crisis. We underscore the central importance of a truly global stimulus,strengthened financial regulation and oversight to prevent a recurrence of the crisis and the need for coordinatedpolicies to ensure that all available resources for stimulus have the maximum global impact. We welcome thestrong emphasis of the G-20 on assisting developing countries on keeping opening trade, and on the additionalfinancing for trade. However, specific commitments to additional resources are also required to assist thepoorest, while avoiding the risk of resuming a cycle of unsustainable indebtedness.The social effects of the crisis are already disturbing and could worsen. If action is not taken urgently, itcan be devastating for the most vulnerable and voiceless, with growing social insecurity and displacement ofpeople. The achievement of the MDGs is at stake. Progress in reducing poverty and hunger in developingcountries is being set back. The 850 million people already suffering from chronic hunger in 2006 will increaseto around one billion in 2009. The middle class in many countries is being weakened. The vulnerable groups,children, women, youth, elderly, migrants and people with disabilities, are hit the strongest.Even before the onset of the current financial crisis, significant challenges existed in terms of food,education, health, water and sanitation, housing and minimum welfare for the most needy. Poverty anddeprivation define the lives of too many.In the face of this unfolding crisis, the multilateral system must deploy all its resources and capacities ina rapid and effective response, while upholding the principles, values and goals to which the internationalcommunity has committed. Open economies and societies must be defended to avoid the risk of reverting toinward-looking policies, protectionism and even xenophobia. Human rights, democracy, social justice andpeace must be preserved.CEB underlines the risk of a reduction in development assistance at this time and the need to ensure thatall efforts are made to prevent a global economic crisis from becoming a humanitarian and security crisis ofpotentially immense proportions. CEB reiterates that the commitments made earlier to increase ODA must bemet. This means that donors will deliver at least $300 billion in aid over the next two years.International policy coordination is crucial. The crisis is multidimensional and calls for policycoherence at global, regional and national levels. It is impacting countries differently and requires policyresponses specific to national priorities. We call upon stakeholders to build on the current momentum ofintensified multilateral cooperation in order to promote a fully inclusive framework of global governance.Final – EditedSecretariat of the United Nations SystemChief Executives Board for Coordination (CEB)________________________________________________________________________________________________The capacity of governments to design, afford and implement the right policies, while coordinatingthem with international partners, must be strengthened. The multilateral system plays a central role inarticulating and delivering a global and coherent response to the crisis, and in translating it into action at thecountry level. At the country level, United Nations and IMF/WB representatives should work together in a jointand complementary approach to the crisis.We, the United Nations System Chief Executives, are determined to take decisive and urgent action. Inview of the multiple facets of the crisis and our collective mandates and responsibilities, we have agreed on ninejoint initiatives. This common commitment is designed to assist countries and the global community to confrontthe crisis, accelerate recovery and build a fair and inclusive globalization allowing for sustainable economic,social and environmental development for all, while facing the future in a spirit of conviction of the need fortransformational change:1. Additional financing for the most vulnerable: advocating and devising a joint World Bank - UN systemmechanism for the common articulation and implementation of additional financing, including through theWorld Bank proposed Vulnerability Fund.2. Food Security: strengthening programmes to feed the hungry and expanding support to farmers indeveloping countries.3. Trade: fighting protectionism, including through the conclusion of the Doha round and strengthening aid fortrade initiatives and finance for trade.4. A Green Economy Initiative: promoting investment in long-term environmental sustainability and puttingthe world on a climate-friendly path.5. A Global Jobs Pact: boosting employment, production, investment and aggregate demand, and promotingdecent work for all.6. A Social Protection Floor: ensuring access to basic social services, shelter, and empowerment andprotection of the poor and vulnerable.7. Humanitarian, Security and Social Stability: Emergency action to protect lives and livelihoods, meetinghunger and humanitarian needs, protecting displaced people and shoring up security and social stability.8. Technology and Innovation: developing technological infrastructure to facilitate the promotion and access toinnovation.9. Monitoring and Analysis: strengthening macroeconomic and financial surveillance and implementing an effective economic earlywarning system; Urgently establish a UN system-wide vulnerability monitoring and alert mechanism to trackdevelopments, and report on the political, economic, social and environmental dimensions of the crisis.Policy coherence and coordination are essential. Promoting coordination of strengthened financial oversightand of economic stimulus packages will enhance their overall effectiveness; and providing relevant policyadvice on countercyclical policies will contribute to protecting people, accelerating the way out of this crisis andpreventing its recurrence.____________

Chief Executives Board for Coordination (CEB) Communique

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Chief Executives Board for Coordination (CEB) Communique

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