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UN Security Council: Two years on, Iran nuclear accord at a ‘critical crossroads’

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The United Nations political chief told the Security Council Tuesday that the UN Secretariat is not yet in a position to confirm whether the ballistic missiles launched at the Saudi cities of Yanbu and Riyadh were Iranian Qiam-1 missiles, as assessed by Saudi authorities.

“Almost two years after Implementation Day of the Joint Comprehensive Plan of Action (JCPOA), we are at a critical crossroads,” Under-Secretary-General Jeffrey Feltman told the Council.

On 20 July 2015, the Security Council unanimously adopted resolution 2231 (2015) endorsing the JCPOA. The action plan, between the Council’s five permanent members (China, France, Russia, the United Kingdom and the United States), plus Germany, the European Union (EU) and Iran, set out rigorous mechanisms for monitoring limits on Iran’s nuclear programme, while paving the way for lifting UN sanctions against the country.

Mr. Feltman recalled that since January 2016 the International Atomic Energy Agency (IAEA) had reported to the Council nine times that Iran is adhering to its nuclear-related obligations. At the same time, in October 2017 the President of the United States decided not to certify to Congress that Iran was complying with the agreement.

“This decision has regrettably created considerable uncertainty about the future of the JCPOA,” he said, noting that the UN the Secretary-General is reassured that the US, during the recent 7th meeting of the Joint Commission, together with other participants, expressed its continued adherence to its commitments.

“Today’s meeting is an important opportunity to reflect carefully on what has been achieved and the challenges that lay ahead,” Mr. Feltman continued, presenting the main findings of the UN Secretary-General’s fourth report on the implementation of the provisions contained in annex B to resolution 2231.

Regarding the supply, sale or transfer to Iran of nuclear-related items undertaken in violation of the provisions of resolution 2231, Mr. Feltman said that the Secretary-General has again not received any report of such flows.

As for the implementation of ballistic missile-related provisions, Mr. Feltman said the report contained preliminary observations indicating that the two missiles launched at the Saudi cities of Yanbu and Riyadh had similar features which suggested a common origin, and are consistent with missiles of the Scud family and had features known to be consistent with the Qiam-1 missile.

One of the missiles bore castings similar to that of an Iranian entity on the list maintained pursuant to resolution 2231, he added.

In terms of restrictions on arms-related transfers, the Secretariat is confident that close to 900 of the assault rifles seized by the United States in March 2016 are identical to those seized by France also in the same month, which the Secretariat had assessed were of Iranian origin and shipped from Iran, Mr. Feltman said.

The Secretariat is also confident that half of the 200 rocket propelled grenade launchers had characteristics similar to Iranian-produced RPG launchers.

Further, the Secretariat had received information on an unmanned surface vessel (USV) laden with explosives allegedly used against the Saudi-led coalition and had the opportunity to examine parts of its guidance and detonation systems, which included a computer terminal with a dual English/Farsi keyboard and characteristics similar to those of Iranian-produced terminals.

The Secretariat was also requested to examine two unmanned aerial vehicles (UAVs), reportedly recovered in Yemen after Implementation Day. One of the UAVs – which Saudi authorities ascertain was similar to that of the Iranian-made Ababil-II – is similar to other drones reportedly seized in Yemen brought to our attention by the United Arab Emirates, Mr. Feltman said.

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ADB Project to Improve Fiscal Management, Develop Capital Markets in Armenia

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The Asian Development Bank (ADB) has approved a $40 million-equivalent policy-based loan attached to reforms that help strengthen fiscal sustainability and develop the financial and capital markets in Armenia. These are crucial enablers of private sector development.

Armenia’s economic growth over the last few years has been hampered by low levels of investment, both foreign and domestic, given the high costs of local currency finance and related constraints in the financial system. Efficiency-promoting upgrades in public investment and fiscal management are also needed to ensure sustained improvements in fiscal outlook and sovereign risk pricing.

“Financial markets remain nascent in Armenia, which limits the development of the country’s private sector and the banking industry,” said ADB Senior Financial Sector Economist for Central and West Asia Mr. João Farinha Fernandes. “This also constrains public finance and fiscal management, while exposing the economy to financial stability risks. ADB’s assistance is intended to help ensure that Armenia develops a conducive fiscal and financial intermediation environment where private sector players, both big and small, can contribute to growth and development.”

ADB approved a $50 million policy-based loan in November 2018 as part of an ongoing programmatic engagement on financial reforms to strengthen public debt and fiscal risk management, and to develop financial markets in Armenia.

The Second Public Efficiency and Financial Markets Program continues these reforms by strengthening the effectiveness of the government’s fiscal risk management function; promoting the development of fiscally responsible public–private partnerships; and enhancing market transparency and predictability in public debt management. The program will also improve the infrastructure of the government securities market and money market infrastructure, enhancing the sustainability and resilience of Armenia’s finance sector.

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Bangladesh Can Boost its Exports with Better Logistics

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To meet the needs of its growing economy and to boost export growth, Bangladesh needs to improve its transport and logistics systems, says a new World Bank report launched today. 

The report Moving Forward: Connectivity and Logistics to Sustain Bangladesh’s Success, finds that by making logistics more efficient, Bangladesh can significantly boost export growth, maintain its position as a leading ready-made-garments and textile producer, and create more jobs. The report notes that congestion on roads and in seaports, high logistics costs, inadequate infrastructure, distorted logistics service markets, and fragmented governance hamper manufacturing and freight, further eroding Bangladesh’s competitive edge and putting its robust growth path at risk. 

“Bangladesh’s congested transportation and often unsophisticated logistics systems impose high costs to the economy,” said Mercy Tembon, World Bank Country Director for Bangladesh and Bhutan. “By making its logistics more efficient, Bangladesh can significantly optimize its connectivity, business environment, and competitiveness, putting the country on the right path to become a dynamic upper-middle-income country.”

Efficient logistics, the report argues, has become one of the main drivers for global trade competitiveness and export growth and diversification. For Bangladesh, improving its logistics performance provides an opportunity to increase its world market share in garments and textiles, which account for 84 percent of its total exports, expand into new markets, and diversify its manufacturing and agriculture into high-value products. 

The report notes that improving Bangladesh’s logistics requires a system-wide approach based on greater coordination among all public institutions involved in logistics and with the private sector, increasing the effective capacity of core infrastructure, and removing distortions in logistics service markets to reduce costs and improve quality. At a regional level, harmonizing its logistics systems and aligning its customs with that of its neighbors could turn Bangladesh into an important node for regional freight flows and further boost its trade. 

“There’s no doubt that reforms and investments for better transport and logistics will yield Bangladesh substantial economic benefits and strengthen its competitive advantage,” said Matías Herrera Dappe, Senior Economist at the World Bank and author of the report. “But the solution to logistics is not just to invest more but to invest better, by focusing on the service gap, and creating the incentives for high quality and competitive logistics services.”

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New development models to drive growth and employment for youth in Africa

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The United Nations Environment Programme (UNEP) today launched the Global Environment Outlook-6 (GEO-6) for Youth in Africa report on the margins of the 17th session of the African Ministerial Conference on the Environment (AMCEN).

The report analyses the economic opportunities that Africa’s natural resources can provide for job creation and sustainable development. It also provides a package of solutions to tackle Africa’s youth unemployment through the Green Economy.

“This Publication is anchored substantively in the UNEP’s sixth Global Environment Outlook (GEO-6) Regional Assessment for Africa,” said Juliette Biao Koudenoukpo, Director of UNEP’s Regional Office for Africa. “This Assessment has a very clear message; Africa has an opportunity to use its large young population to drive its growth.”

Africa’s youth remains the most hit by unemployment. One-third of Africa’s 420 million youth aged 15 to 35 are unemployed. Of these, 35 per cent are vulnerably employed and 19 per cent are inactive. These numbers will increase dramatically unless urgent actions are not taken.

The report recommends that Africa’s natural capital should be managed sustainably to enhance the livelihoods of African young population, create more sustainable and decent jobs as well as increase social and economic cohesion.

“The Green Economy calls for a paradigm shift in the way that we produce and consume. If young people are the centre of such a shift, they will secure a sustainable future replete with sustainable livelihoods,” said Professor Lee White, Minister for Environment, Forest and Oceans of Gabon and outgoing President of AMCEN. “The Global Environment Outlook-6 for Youth, Africa: A Wealth of Green Opportunities digs deep into that future and shows young people how they can secure their livelihoods through green jobs.”

Natural resources remain a key source of employment in Africa. Eight out of ten people’s employment on the continent are supported by natural resources. Nearly six million Africans are employed in the fisheries and aquaculture sector, ten million people work in the wildlife sector and an average of 54 per cent in the agricultural sector.

The report includes case studies and success stories on African youth who have invested in natural resources to develop entrepreneurship, improve their knowledge and skills as well as create jobs and sustain their livelihoods.

The report calls on governments to encourage youth to invest in green economy through creating platforms for innovation in sustainable development. While confirming the potential of youth in leading green growth in Africa, the report strongly establishes the correlation between green economy and decent jobs.

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