Nemat Shafik, Deputy Managing Director of the International Monetary Found, (IMF), writes that the post-2015 agenda needs to be realistic and result from an extensive consultative process.
On the role of the IMF, Shafik argues that the institution needs to address sound and economic financial management that can produce inclusive growth.
December 2012: Nemat Shafik, Deputy Managing Director, International Monetary Fund (IMF), argues for a reconceptualization of the post-2015 agenda in order to cope with “new imperatives” of development practices, in the December 2012 issue of the IMF’s “Finance and Development” newsletter. Highlighting the perverse effects of the economic crisis, Shafik stresses the need to strengthen global stability and support countries during downturns.
Recalling the imminent deadline of the Millennium Development Goals (MDGs), Shafik argues that the next development framework must be based on extensive consultation. She stresses the need for a broadened understanding of development requirements, saying the new development agenda must be “truly global, relevant to all, and realistic in assigning responsibilities.” She also notes that the most pressing issue is to build confidence in the global recovery.
Regarding the poverty setbacks caused by the crisis, Shafik highlights that the IMF can contribute by: bolstering its lending capacity; making growth more inclusive by working in partnerships with other multilateral organizations; and designing policies for the green economy that are mindful of real environmental costs. [Publication: Finance and Development, December 2012]