India, Brazil and South Africa foreign ministers met informally in Pretoria on 4 June, 2018 for the informal meeting of IBSA Foreign Ministers, adopting and jointly releasing the IBSA Declaration on South-South Cooperation, to contribute to greater understanding of development co-operation as a common endeavour of the Global South. It includes increasing advocacy for reforms of global governance institutions in multilateral fora, as well as driving people-centric social policies for restructuring the international financial architecture and reforming international organisations.
Governments and international organisations, the private sector and academics meet with the aim of fostering trade action in least developed countries and building deeper collaboration and commitment to integrate such nations into global and regional trade. Progress over the past decade will be discussed, with a view to determining what more is needed and to obtaining new commitments by LDC leaders to use trade to meet the Sustainable Development Goals (SDGs).
Energy transitions is one of the 11 work streams of the G20, with the transition to cleaner, more flexible and transparent energy systems a priority. The working group promotes the strengthening of energy efficiency and renewables, energy access, reducing inefficient fossil fuel subsidies, energy data transparency and market digitalisation.
Sub-Saharan Africa can expect a modest growth uptick, while decisive policies are needed to reduce vulnerabilities and raise medium-term growth prospects, according to the IMF’s Regional Economic Outlook: Domestic Revenue Mobilization and Private Investment. Monetary policy must be geared towards ensuring low inflation.
The Opportunities For All: OECD Framework for Policy Action on Inclusive Growth finds that governments need to make urgent and concerted efforts to drive more inclusive, sustainable economic growth that benefits everyone in society. To help countries assess their progress in achieving more inclusive growth, the OECD has created a new dashboard of indicators.
The WTO publication looks at its role in delivering the SDGs and unpacks ways it can help to ensure that international trade contributes to accelerating progress in achieving the goals. The report examines the SDGs from economic, social and environmental perspectives and outlines how trade is contributing to making progress in each of these areas.
The BTTC meeting was held under the theme “Envisioning inclusive development through a socially responsive economy”. It was held alongside the Academic Forum. The gathering looked at ways of solving urgent socio-economic challenges, such as water scarcity and literacy statistics, many of which were seen as symptoms of much broader issues and the result of far-reaching challenges such as climate change, inequality, economic prosperity and education.
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.