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Towards a new international development architecture for LDCs

Date
Time (GMT +00) 13:00 14:30
Hero image description: Workers surrounded by sugarcane, Guyana Image credit:Mareike Meyn Image license:Creative Commons

Speaker:

Charles Gore - Special Coordinator for Cross-sectoral Issues, Division for Africa, LDCs and Special Programmes, UNCTAD

Stephany Griffith-Jones - Financial Markets Director, Initiative for Policy Dialogue, Columbia University

Dirk Willem te Velde - Head of Investment and Growth, ODI

Chair:

Andy Norton - Director of Research, ODI

Description

UNCTAD will be releasing their Least Developed Countries Report 2010: Towards a New International Development Architecture for LDCs. The report says that the least developed countries (LDCs), which were unable to diversify their economies and significantly reduce poverty during the boom years of 2002-2007, when growth averaged 7% per year, do not have good prospects as they exit the recession. The report suggests the international approaches to helping LDCs must be changed.

Charles Gore will outline the reports recommendations, highlighting calls for a "New International Development Architecture" (NIDA) that would, among other things:

  • make helpful technology more easily available to LDCs and less restricted by intellectual property rules;
  • make early results of the Doha trade negotiations that are favourable to LDCs available whatever the fate of the overall negotiations;
  • take steps to stabilize global commodities prices -- that is, the prices of basic food staples and raw industrial materials;
  • vastly increase financing to help LDCs adapt to climate change;
  • and, especially, channel much more funding and international attention towards increasing LDCs' productive capacities -- that is, their abilities to produce a broader variety of goods, and more sophisticated goods.