18 May 2012: In his closing remarks to the UN General Assembly’s (UNGA) high-level thematic debate on “The State of the World Economy and Finance and its Impact on Development,” UN Secretary-General Ban Ki-moon stressed that efforts to revive the global economy must be based on a long-term vision of sustainable and inclusive development.

This debate, held on 17-18 May 2012, was convened jointly by UNGA President Nassir Abdulaziz al-Nasser and UN Secretary-General Ban Ki-moon and included thematic roundtable discussions on: youth unemployment, debt sustainability, trade and investment, and accountability of the financial system.

Al-Nasser said the deliberations would provide input to various UN processes, including the UN Conference on Sustainable Development (UNCSD, or Rio+20), the Financing for Development Follow-up process, discussions on global economic governance, and the future of the Millennium Development Goals (MDGs).

Ban highlighted that the UNCSD will be an opportunity to stimulate global support for a transformative agenda for change. He stressed that acting within a long-term vision of sustainable development, development gains can be achieved and new dynamism and growth generated. He also underscored that Rio+20 must agree to a process to establish sustainable development goals (SDGs) that build on the MDGs after 2015. Finally, he expressed concern with the pace and ambition of the negotiations. [UN Press Release, 18 May] [UN Press Release, 17 May] [Statement of Secretary-General] [UNGA President Opening Remarks] [UNGA President Closing Remarks] [UNCTAD News] [Background and Programme of Debate] [UNGA Meeting Summary]