- This event has passed.
Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development, Fourth Session
November 1 - November 3
The fourth session of the Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development of the Economic and Social Commission for Asia and the Pacific (ESCAP) will be held at the United Nations Conference Centre in Bangkok and online from 1 to 3 November 2023.
Economies around the globe, including in Asia and the Pacific, are facing difficult macroeconomic conditions. Together with weak economic growth prospects and high inflation, they are experiencing elevated interest rates, a constrained fiscal space and rising public debt levels. In such circumstances, adequately financing efforts aimed at achieving the Sustainable Development Goals and at climate action will not be an easy task. Policymakers need to respond to the immediate macroeconomic challenges while not losing sight of long-term sustainable development ambitions.
In this context, the Committee will focus on assessing the impacts of investments in the Sustainable Development Goals on public debt sustainability and accelerating sustainable finance. The work of the Committee will be carried out with three main objectives: (a) to increase understanding of the need for, and the policy implications of, a long-term public debt sustainability analysis that takes into consideration investments in the Sustainable Development Goals and climate action; (b) to review and develop a consensus on the broad principles underpinning the actions needed to scale up sustainable finance in Asia and the Pacific and understand their policy implications; and (c) to discuss the future direction of the work under the subprogramme, with a focus on financing for development and on engagement with the Consultative Group on Financing Strategies for the Sustainable Development Goals, which was established by the Committee at its third session, held in October 2021.
Various analytical and knowledge products will be shared to enrich the discussions of the Committee and the experience of the participants. High-level panel discussions and side events will be organized with a view to boosting affordable and longer-term financing for Governments and exploring the nexus between climate change and debt vulnerabilities.