Dr. Supachai was opening the UNCTAD Public Symposium, which brought together representatives from governments, non-governmental organizations, think tanks and academia for two days of discussion on the post-2015 development agenda.
In his address, Dr. Supachai highlighted the economic reforms needed in order to meet specific goals set out by the United Nations Secretary-General’s High-Level Panel of eminent persons on the Post-2015 Development Agenda. The panel, which is chaired by the leaders of Indonesia, Liberia and the United Kingdom, recently submitted a report to the United Nations expanding the number of development goals from 8 to 12.
Dr. Supachai also expressed scepticism about the impact of quantitative easing, when governments buy financial assets from private banks. Quantitative easing had been deployed by several central banks since the financial crisis. It had inflated stock market and currency bubbles, and had pumped more money into a broken banking system, he said.