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While international financial development speeded up within the first decade of the millennium, the LDCs remained marginalized on this planet economic system. The record demands the construction of a brand new overseas improvement structure (NIDA) for the LDCs geared toward: a) reversing their marginalization within the international economic climate and assisting them of their catch-up efforts; (b) helping a trend of speeded up fiscal progress and diversification to enhance the overall healthiness of all their humans; and (c) aiding them graduate from liquid crystal display prestige. The NIDA for LDCs will be constituted via reforms of the worldwide financial regimes which without delay impact improvement and poverty aid in LDCs, and during the layout of a brand new iteration of distinctive foreign aid mechanisms for the LDCs geared toward addressing their particular structural constraints and vulnerabilities. expanding South-South cooperation, either inside of areas and among LDCs and big, fast-growing constructing international locations, may also play a tremendous position

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Additional info for Least Developed Countries Report 2010: Towards a New International Development Architecture for LDCs (United Nations Conference on Trade and Development)

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Thus, in addition to trade facilitation, it should include support for technological development and diversification out of commodity dependence. Commodities In the area of commodities, the long-term goal should be structural transformation leading to more diversified economies. However, in the short and medium term, some new forms of international commodity policy are required. Priority actions in the global economic regime could include the introduction of new measures for reducing the volatility of commodity markets and the adverse impacts of that volatility, such as: (i) The establishment of a global countercyclical financing facility that ensures fast disbursement of aid at times of commodity price shocks, with low policy conditionality and high concessionary elements; (ii) Setting up of innovative commodity price stabilization schemes, consisting of both physical and virtual reserve facilities; (iii) Introduction of taxation measures to reduce speculation in global commodity markets; and (iv) A counter-cyclical loan facility indexing repayment to debtors’ capacity to pay.

Indeed their economic recovery is expected to be the most anaemic of all country groups. It will depend particularly on whether the global recovery is sustained, and whether ODA continues to be provided in forms which boost investment and maintain consumption per capita. The Global Financial Crisis and Recent Boom-Bust Cycle in the LDCs It is difficult to gauge the overall social impact of the global economic crisis on the LDCs because only a few country studies on this issue have been conducted so far.

FOCAC); • RTAs should adopt SDT measures fo LDCs; • Large and dynamic developing countries in a position to do so should offer DFQF market access to LDC exports; Overview XXI • Large and dynamic developing countries should finance the transfer of their technologies to LDCs on preferential terms; • South-South collaboration on renewable energy should be strengthened through technical cooperation, trade and investment. In order to improve the development impact of these actions, LDC Governments need to formulate proactive strategies for their deeper economic integration with the other countries of the South.

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