International Financial System and Development

A/RES/60/186View PDF

Who adopted this document and its mandates?

A Resolution of the General Assembly, under agenda item 50b International financial system and development, published in 2006.

What other versions does this mandate have?

24 versions · 2003–2025

This is an older version — the most recent is A/RES/80/122

Year	Symbol	Title	Word length	Text similarity
2025	A/RES/80/122	International financial system and development	5,978	37%Compare
2024	A/RES/79/196	International financial system and development	6,920	85%Compare
2023	A/RES/78/136	International financial system and development	6,458	90%Compare
2022	A/RES/77/152	International financial system and development	5,907	79%Compare
2022	A/RES/76/192	International financial system and development	5,416	90%Compare

Which reports were submitted under this mandate?

24 reports · 2003–2026

Year	Symbol	Title	Mandate resolution
2026	A/81/322	International financial system and development report of the Secretary-General	A/RES/80/122
2025	A/80/331	International financial system and development report of the Secretary-General	A/RES/79/196
2024	A/79/130	International financial system and development report of the Secretary-General	A/RES/78/136
2023	A/78/178	International financial system and development report of the Secretary-General	A/RES/77/152
2022	A/77/224	International financial system and development report of the Secretary-General	A/RES/76/192

What’s in this document?

22 operative paragraphs

Takes note of the report of the Secretary-General;⁶

⁶A/60/163.

Notes that global economic growth and a stable international financial system, inter alia, can support the ability of developing countries to achieve internationally agreed development goals, including the Millennium Development Goals, and stresses the importance of cooperative efforts by all countries and institutions to cope with the risks of financial instability;

Emphasizes that economic growth should be further strengthened and sustained, noting that global economic growth depends on national economic growth and that implementation of sound macroeconomic policies could significantly contribute to a revitalization of economic growth;

Invites the World Bank, the International Monetary Fund, the regional development banks and other relevant institutions to further integrate development dimensions into their strategies and policies, consistent with their respective mandates;

Notes that developing countries as a whole continue to experience a net outflow of financial resources, and requests the Secretary-General, in continuing collaboration with international financial institutions and other relevant bodies, to analyse the range of reasons for this in his report under this item;

Underlines the importance of promoting international financial stability and sustainable growth, and welcomes the efforts undertaken to this end by the International Monetary Fund and the Financial Stability Forum, as well as the consideration by the International Monetary and Financial Committee of ways to sharpen tools designed to promote international financial stability and enhance crisis prevention, inter alia, through an even-handed implementation of surveillance, including at the regional level, and a sharpening of surveillance of capital markets and systemically and regionally important countries, with a view, inter alia, to the early identification of problems and risks, integrating debt sustainability analysis, the fostering of appropriate policy responses, the possible provision of financing and other instruments designed to prevent the emergence or spread of financial crises and further improvements in the transparency of macroeconomic data and statistical information on international capital flows;

Also underlines the importance of efforts at the national level to increase resilience to financial risk, stresses in this regard the importance of better assessment of a country’s debt burden and its ability to service that debt in both crisis prevention and resolution, and welcomes the ongoing work of the International Monetary Fund on assessing debt sustainability;

Invites developed countries, in particular major industrialized economies, to take into account the effect of their macroeconomic policies on international growth and development;

Recognizes the need for multilateral surveillance to remain at the centre of crisis prevention efforts and that surveillance should focus not only on crisis-prone countries but on the stability of the system as a whole;

Reiterates that measures to mitigate the impact of excessive volatility of short-term capital flows and to improve transparency of and information about financial flows are important and must be considered;

Notes the impact of financial crises or risk contagion in developing countries and countries with economies in transition, regardless of their size, and in this regard welcomes the efforts of the international financial institutions, in their support to countries, to continuously adapt their array of financial facilities and resources, drawing on a full range of policies, taking into account the effects of economic cycles, as and where appropriate, having due regard to sound fiscal management and the specific circumstances of each case, so as to prevent and respond to such crises in a timely and appropriate way;

Underscores the importance of competitive and inclusive private and public financial markets in mobilizing and allocating savings towards productive investment and thus making a vital contribution to national development efforts and to an international financial architecture that is supportive of development;

Invites the international financial and banking institutions to consider enhancing the transparency of risk-rating mechanisms, noting that sovereign risk assessments made by the private sector should maximize the use of strict, objective and transparent parameters, which can be facilitated by high-quality data and analysis, and encourages relevant development institutions, including the United Nations Conference on Trade and Development, to continue their work on this issue, including its potential impact on the development prospects of developing countries;

Stresses the importance of strong domestic institutions in promoting business activities and financial stability for the achievement of growth and development, inter alia, through sound macroeconomic policies and policies aimed at strengthening the regulatory systems of the corporate, financial and banking sectors, and also stresses that international cooperation initiatives in those areas should encourage flows of capital to developing countries;

Underlines the fact that the issue of enhancing the voice of developing countries and countries with economies in transition in the Bretton Woods institutions is of vital importance, stresses the importance of enhancing ongoing work in this regard, taking into account progress in the context of the International Monetary Fund quota review, and invites the World Bank and the International Monetary Fund to continue to provide information on this issue, using existing cooperation forums, including those involving Member States;

Emphasizes that it is essential to ensure the effective and equitable participation of developing countries in the formulation of financial standards and codes, underscores the need to ensure their implementation, on a voluntary and progressive basis, as a contribution to reducing vulnerability to financial crisis and contagion, and notes that more than one hundred countries have participated in or agreed to participate in the joint World Bank-International Monetary Fund financial sector assessment programme;⁷

⁷See A/59/218 and Corr.1, para. 15.

Notes the proposal to use special drawing rights allocations for development purposes, and considers that any assessment of special drawing rights allocations must respect the Articles of Agreement of the International Monetary Fund and the established rules of procedure of the Fund, which requires taking into account the global need for liquidity at the international level;

Invites the multilateral and regional development banks and development funds to continue to play a vital role in serving the development needs of developing countries and countries with economies in transition, including through coordinated action, as appropriate, and stresses that strengthened regional development banks and subregional financial institutions add flexible financial support to national and regional development efforts, thus enhancing their ownership and overall efficiency, and are an essential source of knowledge and expertise for their developing-country members;

Calls for the continued effort of the multilateral financial institutions, in providing policy advice, technical assistance and financial support to member countries, to work on the basis of nationally owned reform and development strategies, to pay due regard to the special needs and implementing capacities of developing countries and countries with economies in transition and to minimize the negative impacts of the adjustment programmes on the vulnerable segments of society, while taking into account the importance of gender-sensitive employment and hunger and poverty eradication policies and strategies;

Stresses the need to continuously improve standards of corporate and public sector governance, including accounting, auditing and measures to ensure transparency, noting the disruptive effects of inadequate policies;

Requests the Secretary-General to submit a report to the General Assembly at its sixty-first session on the implementation of the present resolution;

Decides to include in the provisional agenda of its sixty-first session, under the item entitled “Macroeconomic policy questions”, the sub-item entitled “International financial system and development”.

International Financial System and Development

Who adopted this document and its mandates?

What other versions does this mandate have?

Which reports were submitted under this mandate?

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What’s in this document?

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