Rethinking Bretton Woods | Thu, Apr 4, 2013
A recent brief by CIDSE, the international alliance of Catholic development agencies, "How can the G20 really contribute to development?" addresses recommendations to the Group of 20 under this year’s Russian Presidency.
Most of the specific agendas dealt by the G20 leaders are crucial for southern countries and their access to different sources of financing for their public policies of development (Development Agenda, Financial Regulation, Anti corruption action plan, Innovative Financing, etc.)
The Seoul Multi-Year Action Plan on development ends under the Russian Presidency of the G20. This is a useful moment for the G20 to reflect on its role in global development and how to improve its impact to date.
This brief draws attention to some key changes that would improve the G20’s track record on providing an inclusive and sustainable recovery, namely:
- To improve mechanisms to hold G20 governments accountable to objectives and commitments.
- To improve development coherence of its core agenda.
- To improve its interactions with civil society groups and low income countries, more able to represent perspectives of poor communities.
- To play to its strengths and highlight neglected agendas.
- To play to its strengths to tackle gaps in global governance and coordination that undermine development impacts in the global economy.
- To improve poverty and sustainability impacts of its “development agenda” to promote inclusive economies and regulate foreign direct investment.