South and South-West Asia Policy Dialogue: Economic and Social Survey of Asia and the Pacific 2024 "Boosting affordable and longer-term financing for Governments"

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10 July 2024, 14:00 - 16:00 Indian Standard Time

While South and South-West Asia  economies have displayed resilient output growth in 2023, the lingering effects of the COVID-19 pandemic together with the war in Ukraine, have had significant socioeconomic impacts. Job creation is subdued, the cost of living is high, and there are concerns regarding the rise in poverty and inequalities. At the same time, climate change and related natural disasters are increasingly disrupting economic activities and adversely impacting people's well-being.

These developing countries need to strengthen their domestic resource mobilization strategies and macroeconomic fundamentals to reduce fiscal risks and borrowing costs. Yet, the tangible benefits of such policy efforts on fiscal and public debt positions may take years to materialize. Support from the international community is urgently needed in the meantime.
In this context, the 2024 edition of ESCAP's flagship publication, "Economic and Social Survey of Asia and the Pacific", examines how countries in the region, donors, multilateral development banks and credit rating agencies can boost the availability of affordable and long-term financing for Governments.[1] The report also provides an analysis on the fiscal implications of global megatrends, especially demographic shifts, climate change and environmental degradation, and rapid technological advancements. Survey 2024 website

This policy dialogue, organized by ESCAP, aims to discuss ideas on policy issues and actions to reduce the cost of government borrowing and to increase the supply of long-term capital for development purposes. The discussion will address interconnected issues of macroeconomic prospects, challenges and policy options in the context of South and South-West Asia.

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