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Transcript
The Global Financial and
Economic Crisis
UNDP’s RESPONSE
Regional Conference on the Impact of the Global
Economic and Financial Crisis to the Vulnerable Sectors
in the Region: Civil Society Voices and ASEAN
Jakarta, 28-29 July 2009
1
Human Development
Impact of Crisis in Asia


Progress towards MDGs under threat
While poverty incidence decreased sharply many
remain vulnerable to economic shocks
– Recent food and fuel crisis forced 200 million into
poverty
– An estimated 60 million in 2009 and up to 100 million in
2010 more pushed into poverty

Children, women, working poor, migrants and
people already at a disadvantage among most
vulnerable
Human Development
Impact of Crisis in Asia



Unemployed in Asia projected to
increase from 80 million in 2007 to 93
million in 2009
Slow-down in job creation (a 4% drop
in growth will reduce employment
growth by 2- 4% per year)
Female and migrant workers often most
vulnerable to lose jobs
Responding to Crisis



Asymmetry between industrialized and
developing countries in capacity to
respond
Most countries focus on fiscal stimulus
packages
Support for vulnerable remains
fragmented and under-resourced
Global Responses
Conference on World Financial and Economic Crisis
and Its Impact on Development June 2009
– Tackling crisis can be consistent with tackling
poverty and climate change
– Highlighted systemic fragilities and imbalances
– Called for renewed multilateralism
– Called for intensification of efforts to reform and
strengthen international financial system and
architecture
UN Summit Proposals

Adopting a comprehensive approach
to address
– climate change, environmental issues
– food/fuel price crisis
– MDGs



Keeping a long-term perspective
Looking beyond national benefits
Improving monitoring of vulnerabilities
UN Summit –
Some Proposals for
Action






Suggests counter-cyclical measures of stimulus
Calls on countries to avoid protectionist actions
Proposes better regulation over financial
markets
Calls for creation of new credit facility and
mechanisms of innovative financing
Calls for better coherence between policies
governing trade and finance
Proposes institutional reform of Bretton Woods
institutions
UNDP Response –
Country Level Support
UNDP’s support includes
 Policy dialogue and consultations
 Assessment and advocacy
 Monitoring human development impact
 Support through existing and new programs and
projects
– Design of social protection programs and safety nets
– Job creation schemes (e.g. labor intensive
infrastructure)
– Increasing income and productivity of farmers
Asia Pacific – Regional
and Country Level
Responses



Regional
– Shift from more localized response to higher
policy level
Philippines
– Local government unit intervention
– High level policy advice
Laos
– UNDP Round Table Implementation Meeting
– Follow up workshop in December with key
ministries – discussion of implications of
crisis on next National Socio-Economic
Development plan with concrete
recommendations
Asia Pacific Country Level
Responses, Continued . . .


China
– Discussion with government on South South
financial flows in trade, aid and investment
– China-Africa Business Council involvement
Cambodia
– Insights for Action initiative (UNDP
Cambodia) is exploring ways of facilitating
information sharing and providing advisory
assistance to the government
UN Response Indonesia



Harmonized UN Approach: UNDP, WFP,
UNICEF and ILO
Technical Workshop March/April 2009 laid
groundwork for Crisis Monitoring and
Response System
Assist Government in Setting up Crisis
Monitoring and Response System
–
–
–
–
Institutional framework
In-depth analysis of impact
Assessing response mechanisms
Data management system
Thank
You