Economic issues

Civil society was the critical “eyes and ears on the ground”, Nikhil Seth, Director of ECOSOC Support and Coordination in the Department of Economic and Social Affairs, said as the Committee on Non-Governmental Organizations (NGOs) opened its 2010 regular session today .

Overwhelming concern over massive destruction caused by a 7.0 earthquake in Haiti that impacted 3 million people – one third of the population -– and left much of the Caribbean nation in shambles dominated discussion in the Economic and Social Council today, as the 54-member body held its first organizational meeting of 2010.

As news of the devastating earthquake dramatically underlines the urgency of broad support for humanitarian relief and assistance, the United Nations is launching a new website designed to match the needs of entities of the Organization with the resources and capacities of the private sector.

Wrapping up its resumed 2009 substantive session, the Economic and Social Council today filled outstanding vacancies on a number of its subsidiary bodies, and heard briefings by key United Nations officials dealing with food security issues, as well as detailed review by its President on coordinated follow-up in response to the world economic and financial crisis.

Concluding its sixty-fourth session today, the Second Committee approved five draft resolutions on a range of agenda items, including a text by which the General Assembly would note with deep concern that the world financial and economic crisis had severely impacted international trade, with a particular effect on developing countries, resulting in lower fiscal revenues and balance-of-payment problems.

Taking action on a wide range of issues today, the Second Committee (Economic and Financial) approved 15 draft resolutions -- 14 by consensus -– including a text by which the General Assembly would urge the international community to adopt urgent, effective steps to eliminate the use of unilateral measures as a means of political and economic coercion against developing countries.

The Second Committee (Economic and Financial) approved 11 draft resolutions this afternoon, including a text entitled “towards a new international economic order” that would have the General Assembly reaffirm the need to continue working towards that goal based on the principles of equity, sovereign equality, interdependence, common interest, cooperation and solidarity among all States.

The Second Committee (Economic and Financial) this afternoon approved by consensus three draft resolutions, including texts concerning the Fourth United Nations Conference on Least Developed Countries, science and technology for development, and the sustainable development of small island developing States.

The Second Committee (Economic and Financial) approved by consensus today three draft resolutions relating, respectively, to sustainable mountain development, cyber security and landlocked developing countries.

The Second Committee (Economic and Financial) approved by consensus today a draft resolution on South-South cooperation for development and an oral decision on postponement of the fourth High-level Dialogue on Financing for Development.