Is Global Financial Reform Possible?

The reform process was often inspired by international financial institutions.

The ongoing reform of the multilateral financial institutions was noted.

IV. Developing economies growth, reform, financial crisis A. Africa will it sustain the growth impulse? B. Latin America and the Caribbean recovery and new reform C. East Asia financial shake out takes hold

The financial crippling of the United Nations continued to obstruct the momentum for reform, preventing constructive negotiations for genuine reform of the Organization.

The persistence of debt crises underscores the need to reform the international financial system.

Such financial support is especially vital in the critical domain of security sector reform.

Appeals by developing countries to reform the international financial architecture fell on deaf ears.

Financial aid Planning Legal reform Offers to provide assistance were made by 39 countries.

A similar case could be made on the closely related question of financial reform.

It is worth touching on the key issues of Security Council and financial reform.

Reform cannot supplant the Charter obligation of Member States to honour their financial obligations.

31. The reform of the United Nations was also threatened by the financial crisis.

These programmes included restrictive monetary and fiscal policies, financial sector consolidation and structural reform.

Another financial issue on which reform was proposed would concern borrowing by Dependent Territories.

As long as our financial system demands endless growth, reform is unlikely to succeed.

On financial reform, New Zealand is strongly concerned about the crisis facing the United Nations.

The proposals of the Secretary General complement the ongoing intergovernmental process regarding the revitalization of the United Nations, particularly financial reform and reform of the Security Council.

It is time to broaden the agenda of global financial reform, which so far has focused on an essential but still limited set of issues, particularly financial regulation. Reform of the global reserve system must be part of that broader agenda.

In fact, the Department initiated a reform process well before the financial crisis made downsizing an imperative.

Related to this reform process is the pressing issue of the critical financial situation of the United Nations.

Subsequently, the Secretary General had presented the financial implications of his reform proposals in document A 52 303.

97. In the more traditional areas of budget and financial management and civil service reform, major progress has been made in defining a coherent strategy for supporting public sector reform efforts.

The reform is based on five basic standards equal opportunities, social inclusion, financial justice, shared liability and personal autonomy.

Donor countries and international financial institutions should refrain from using financial assistance as a coercive tool to achieve their demands for political and social reform in a recipient country.

My Government is trying to turn the current financial crisis into an opportunity to reform and revitalize its economy. We are taking bold and decisive steps towards a comprehensive structural reform based on democracy and market principles. This structural reform is intended to ensure deregulation of economic activities, transparency and accountability in the financial and corporate sector, and mobility in the labour market.

After the financial crisis, the United States enacted the Dodd Frank Act to overhaul American financial regulation, with the aim of reducing the risk of another financial meltdown. But it did nothing to reform repo lending arguably the weakest link in the financial chain.

That is why we state the need to reform the current international financial architecture, because it is outdated and ineffective.

In addition, the Howard League for Penal Reform reported that in Belarus, some financial aid for electronic equipment was needed.

The resulting precarious financial situation of the Organization also diverts attention from its substantive work and undermines efforts at reform.

But resistance to reform increases as the United Nations financial crisis persists and United States arrears, in particular, remain unpaid.

(2) instituting the financial policies that facilitate the reform and development of the enterprises, setting up and perfecting the financial fund management systems that conduce to the development of the enterprises

The Task Force on Palestinian Reform continued to monitor and support the Palestinian reform process in the areas of elections, financial accountability, the judicial sector and rule of law, legislation, market economy, local government and public administration, and worked with the Palestinian Authority Reform Coordination Support Unit to develop a one year reform action plan.

The Russian Federation supported efforts to increase the effectiveness of UNHCR activities and reform its financial structure within its existing mandate.

However, reform could not take place without a strong financial base, which was the guarantee of the Organization's stability and vitality.

But it remains true that no reform plan can be successful until the financial situation of the United Nations is cured.

The success of the Secretary General apos s reform programme would depend on the political and financial commitment of each State.

In Fiji, legal and financial assistance in lobbying, advocacy and drafting with 24 non governmental organizations brought about unprecedented constitutional reform.

23. Emphasizes the important supportive role that stronger regional and subregional financial institutions and arrangements can play in the reform of the international financial system and the enhancement of financing for development

Implementing these improvements will be difficult, to be sure. As with the financial sector, however, crisis can be the mother of reform.

Budgetary aid came primarily from the European Union, Saudi Arabia and the World Bank public financial management reform trust fund (see para.

Reform in the financial sector should aim to remove all institutional impediments responsible for the financial repression that currently exists in some countries and to create properly functioning and better integrated capital markets.

The Commission encouraged UNRWA to expedite its financial and administrative reform measures, and welcomed the offers of technical assistance in key management areas from certain donors, which it believed would enhance and speed the reform process.

In addition, the World Bank and regional development banks provide financial support and technical cooperation for financial sector reform (with capacity in the case of the World Bank recently bolstered by the creation of its Special Financial Operations Unit in February 1998).

We need reform of the international monetary and financial institutions, as well as to set right other systemic imbalances, to ensure equitable development.