International Financial System and Development

A/RES/64/190View PDF

Who adopted this document and its mandates?

A Resolution of the General Assembly, under agenda item 51b International financial system and development, published in 2010.

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?

24 operative paragraphs

Takes note of the report of the Secretary-General;⁸

⁸A/64/178.

Reaffirms that the United Nations, on the basis of its universal membership and legitimacy, is well positioned to participate in various reform processes aimed at improving and strengthening the effective functioning of the international financial system and architecture, while recognizing that the United Nations and the international financial institutions have complementary mandates which make the coordination of their actions crucial;

Recalls, in this regard, the resolve to strengthen the coordination of the United Nations system and all other multilateral financial, trade and development institutions so as to support economic growth, poverty eradication and sustainable development worldwide, based on a clear understanding of and respect for their mandates and governance structures;

Underlines the importance of the implementation of the Outcome of the Conference on the World Financial and Economic Crisis and Its Impact on Development,6 and in this regard recalls the establishment of the ad hoc open-ended working group of the General Assembly to follow up on the issues considered therein;

Notes that the crisis has produced or exacerbated serious and wide-ranging yet differentiated impacts across the globe and that, since the crisis began, many States have reported negative impacts, which vary by country, region, level of development and severity, including massive reversal of private capital inflows, especially at the height of the crisis;

Expresses serious concern at the impact that the current world economic and financial crisis is having on all countries, particularly developing countries, stresses the need for actions that are commensurate with the scale, depth and urgency of the crisis to be taken, adequately financed, promptly implemented and appropriately coordinated internationally, and in this regard notes the significant work under way at the national, regional and international levels to mitigate the impact of the crisis;

Reaffirms the need to further develop the comprehensive response of the United Nations development system to the world financial and economic crisis in support of national development strategies through a coordinated approach by United Nations funds and programmes, the specialized agencies and the international financial institutions at the country level;

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

Stresses that this crisis has added new impetus to ongoing international discussions on the reform of the international financial system and architecture, including on issues related to mandate, scope, governance, responsiveness and development orientation, as appropriate;

Notes that major failures of regulation and supervision, plus irresponsible risk-taking by banks and other financial institutions, had created dangerous financial fragilities which contributed significantly to the current crisis, and stresses the need for greater transparency and better regulation and supervision of the international financial system by, inter alia, strengthening prudential oversight, improving risk management and reinforcing international cooperation, while noting ongoing reforms in this regard;

Emphasizes the need for global concerted efforts to restore global economic growth, particularly in developing countries, also emphasizes, in this regard, the need to take into account the human and social impact of the crisis, and underlines the need to promote a job-intensive recovery from the crisis, drawing on the decent work agenda and through the implementation of the resolution entitled “Recovering from the crisis: a Global Jobs Pact”, adopted by the International Labour Conference at its ninety-eighth session;

Stresses that developing countries facing an acute and severe shortage of foreign reserves because of the fallout of the crisis can use, as a measure of last resort, temporary capital account measures, in accordance with the relevant bilateral and multilateral agreements, in order to help to mitigate the adverse impacts of the crisis;

Notes that developing countries can seek to negotiate, as a last resort, on a case-by-case basis and through existing frameworks, agreements on temporary debt standstills between debtors and creditors in order to help to mitigate the adverse impacts of the crisis and stabilize macroeconomic developments;

Recalls that countries must have the necessary flexibility to implement counter-cyclical measures and to pursue tailored and targeted responses to the crisis, and calls for a streamlining of conditionalities to ensure that they are timely, tailored and targeted and support developing countries in the face of financial, economic and development challenges;

Notes, in this regard, the recent improvement of the lending framework of the International Monetary Fund through, inter alia, streamlined conditions and the creation of more flexible instruments such as a flexible credit line, while also noting that new and ongoing programmes should not contain unwarranted pro-cyclical conditionalities;

Urges international financial institutions to continue their efforts to mitigate the global economic impacts of the current crisis, including through the provision of financial resources to developing countries, stresses the need to assist developing countries in responding to the crisis without incurring the risk of relapsing into another debt crisis, takes note with appreciation in this regard of the additional resources that have been made available through the International Monetary Fund and the multilateral development banks, and calls for the continued provision of concessional and grant-based financing to low-income countries to enable them to respond to the crisis;

Notes recent progress on reform of the governance structures of the international financial institutions, and reaffirms the commitment to broaden and strengthen the participation of developing countries and countries with economies in transition in international economic decision-making and norm-setting, while stressing the importance to that end of continuing efforts to reform the international financial architecture, and acknowledges the need for continued discussion on the issue of the voting power of developing countries in the Bretton Woods institutions, which remains a concern;

Reaffirms the need to address the often expressed concern regarding the extent of representation of developing countries in the major standard-setting bodies, therefore welcomes, as a step in the right direction, the expansion of the membership in the Financial Stability Board and the Basel Committee on Banking Supervision, and encourages the major standard-setting bodies to further review their membership promptly while enhancing their effectiveness, with a view to expanding the representation of developing countries as appropriate;

Notes the important role played by recent allocations of special drawing rights in increasing global liquidity, recognizes the need to continue regular reviews of the role of special drawing rights, including with reference to their potential role in the international reserve system, and requests the Secretary-General to take this into account while preparing his report on the implementation of the present resolution;

Also notes the value of regional and subregional cooperation efforts in meeting the challenges of the global economic crisis, and encourages enhanced regional and subregional cooperation, for example, through regional and subregional development banks, commercial and reserve currency arrangements, and other regional initiatives, as contributions to the multilateral response to the current crisis and to improved resilience with respect to potential future crises;

Invites the international financial and banking institutions to enhance 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;

Invites the multilateral and regional development banks and development funds 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 regional development banks and financial institutions add flexible financial support to national and regional development efforts, thus enhancing their ownership and overall efficiency, and in this regard calls upon the international community to ensure that multilateral and regional development banks are adequately funded;

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

Decides to include in the provisional agenda of its sixty-fifth 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?

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What’s in this document?

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