Barry Herman, senior advisor at the UN Financing for Development (FfD) office writes at Policy Innovations about progress being made in the run-up to the FfD Doha meeting, to be held in November/December.
The conference is due to examine the extent to which the Monterrey Consensus of 2002 has been implemented. However, Doha could herald the emergence of something more dramatic.
Herman reports the proposal of Ambassador Eduardo Galvez of Chile, who called for “an integrated multi-stakeholder forum”. According to Herman, by November we may be in a position to see, for the first time, the creation of a genuinely systematic and coherent high-level forum for discussions of the reform of international economic institutions.
So far so good. But Galvez’s commendable words are, unsurprisingly, somewhat vague. Only time will tell the degree to which these developments have any real significance. Nonetheless, Herman is right to suggest that “it is time for a political meeting on international economic reform at the global level” and the FfD Doha conference is a step in the right direction. Of course, as always, the success of such a “political meeting” will depend upon a willingness to compromise, as well as an abundance of both political capital and willpower.
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