The G20 has played a significant role during the pandemic as a forum to discuss global challenges and support collective multilateral initiatives to ease the burden of the COVID-19. The pandemic has hit Least Developed Countries (LDCs) disproportionately, and it is encouraging that many of the initiatives adopted by the G20 have a direct positive bearing on LDCs’ economic prospects. The costs of inaction could indeed be particularly dramatic and lead to negative spillovers. Several challenges, however, lie ahead. Fiscal deficits are expected to expand significantly, leading to an unprecedented jump in public debt. The emerging two-speed recovery threatens to exacerbate global inequalities, leaving LDCs behind. In addition, LDCs will require significant investments in climate-resilient infrastructures to ensure a sustainable recovery and long-term development.
Against this backdrop, although the G20 members are taking important initiatives to support vulnerable countries, these may well be insufficient. Moreover, the LDCs and African countries have still limited representation in this setting. Addressing the issue of LCDs' and Africa’s agency in the G20 is thus crucial to boost the effectiveness and legitimacy of related decisions.
The aim of the webinar is to help bring forward the voice of the LDCs in G20 policy agenda and to reflect upon the role played by the Italian G20 Presidency to effectively reflect their priorities in the key G20 decision-making processes.
The event will allow to present some of the findings of a T20-UNCTAD joint study on how to better integrate the priorities of the LDCs within the agenda of the current and future G20 Presidencies.
The webinar is organised within the framework of the T20 related activities, the T20 Roundtables.
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