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The Doha Review Conference on Financing for Development is taking place at a time when the global economy is facing unprecedented challenges. A crisis at the centre of the global financial system has put pressure on the world’s most prosperous economies. Simultaneously, this crisis is also spreading to the economies of many developing countries, slowing their economic growth, curbing consumption and stifling investment. If millions in those countries are at risk of losing recent economic gains, dashing their hopes for the future, this will quickly evolve from an economic crisis to a human crisis. It will assume new and difficult political and security dimensions that could overwhelm the ones the world is already facing.   

The Doha Follow-up Conference provides an inclusive intergovernmental process in which to articulate a possible vision for a new efficient and robust international financial architecture that can address this and future crisis all the while supporting the development of low-income countries. A renewed international financial regime must also provide incentives, financing and structures that can enable countries to enhance agricultural production, increase energy supply, address security threats, and reduce greenhouse-gas emissions under a coherent sustainable development and poverty reduction agenda.

For more on the Doha Summit and the impact of the financial crisis:

• Media Advisory: Nov. 29 High-Level Panel Discussion on "A Time of Crisis and Opportunity: Policy Response and Renewed Multilateralism" (.pdf)
• Fast Facts: Doha - A Time of Crisis and Opportunity (.pdf)
• Video: Press Conference by UNDP Administrator Kemal Derviş (24 November 2008, .rm, 53 minutes)
• International Conference on Financing for Development Web site