The world needs another paradigm shift bringing together new
types of inclusive economics, Abdallah Al Dardari, UNDP Resident
Representative in Afghanistan, said during the panel discussions on
Pathway to Prosperity, Azernews reports.
Multidimensional Poverty in Islamic Development Bank (IsDB)
Member Countries held as part of the IsDB annual meetings.
“When we were working on the Millennium Development Goals
(MDGs), we had a very good tool that could be linked to the MDGs
progress and achievements. So that was a considerable paradigm
shift in our thinking about economics in general. But then, when we
started facing further challenges, which are inequality, unease
amongst societies and within societies, leading to fragility and to
conflict, it was difficult to say what’s the reason, how come we
have a good GDP growth and there is fragility in the society,” he
said.
Al-Dardari believes that neoclassical economics has reached the
limits.
“Therefore we need to think about another paradigm shift that
brings together new types of inclusive economics. We are happy to
be partnering with this and take humanity one step further in
understanding the relationships between economics, human welfare,
wealth, distribution, and sustainability,” he added.
The Islamic Development Bank Group (IsDB) is holding its 2024
Annual Meetings and Golden Jubilee in Riyadh from April 27-30,
under the Royal Patronage of the Custodian of Two Holy Mosques,
King Salman Bin Abdulaziz Al-Saud.
The 2024 Annual Meetings are being held under the theme of
“Cherishing our Past, Charting our Future: Originality, Solidarity
and Prosperity”, which marks IsDB’s 50 years of fostering
socio-economic development in its member countries.
Among other topics, the meetings will also feature a roundtable
on COP29 with the participation of Azerbaijani government
representatives.
As the premier South-South multilateral development Bank, the
2024 IsDB Group Annual Meetings and Golden Jubilee are expected to
attract international and regional attention. The Annual Meetings
will feature a series of side events with top-level panelists from
government, international and regional organizations, the private
sector, academia, and civil society.
Ministers of Economy, Planning, and Finance from IsDB’s 57
member countries will participate in the event, along with
representatives of international and regional financial
institutions, Islamic banks, private sector companies, national and
international development finance institutions, international and
regional organizations, NGOs, chambers of commerce & Industry, and
business councils.
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