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Interdependence in trade, debt and finance recognized in 'Stiglitz Commission' terms of reference (February 2009)

Rethinking Bretton Woods | Sun, Feb 8, 2009

Last year, the President of the General Assembly set up a Commission of Experts whose mandate is to reflect on the causes of the crisis, assess impacts on all countries and suggest adequate responses as to avoid its recurrence and restore global economic stability.  

The Commission, chaired by Nobel Prize-winner economist Joseph Stiglitz will provide critical input for the substance of the High Level Conference on the World Economic and Financial Crisis and its Impacts on Development, to be held this year (this conference was called by the Doha Declaration on Financing for Development, last year, see commentary at http://www.coc.org/node/6282)  

The Terms of Reference of the Commission explicitly state that “in its deliberations, the Commission will also bear in mind that in an interdependent world, multilateral rules and regulations in trade, debt and finance will have to be mutually reinforcing if they are to underpin financial stability as well as sustainable and equitable development.” 

More information on the Commission of Experts

 

Current resolution on the modalities of the High Level Conference on World Economic and Financial Crisis and its Impacts on Development.  

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PDF icon UN PGA-Lttr & Draft Resolution02-09.pdf356.07 KB