chapter  8
22 Pages

ICT Strategic Framework

ByCesar Marolla

Addressing risks are an increasingly important part of management for the public and private sector because they include such threats as network, telecommunication and transportation interruption, disaster recovery, severe weather events impacts and discontinuity of systems, business and information security threats, data backup and protection, and public health risks and more. It is fundamental to create the right incentives and encourage actions by individuals that reduce collective risks. In that context, creating social, environmental and economic incentives to conserve biodiversity and develop concrete actions toward economic growth and social progress is of paramount importance because we live in a world that economic growth does not take proper account of environmental effects. Capitalizing in strong institutions and coordinated international action show a path to sustainable development goals (SDGs), which in essence needs concerted international efforts, with adequate representation which are required to accelerate world production growth, to facilitate the flow of goods and services and to support effective resource utilization. The World Economic and Social Survey (2017) emphasized important factors that contribute to develop an effective strategic approach to sustainable development and advance economic and social progress. The following three factors are significantly relevant to guiding countries through a difficult current global economic situation and for the implementation of the 2030 Agenda for Sustainable Development:

Stability in the international monetary and trade systems underpins development. In that respect, the Survey has consistently highlighted risks associated with volatile commodity prices and warned against protectionism. Regarding the international monetary system, the Survey has advocated for a shift away from a single-currency system and called for effective financial regulation and supervision.138

Countries need adequate policy space to accelerate development. Flexible application of the international norms and commitments has facilitated economic recovery at times of crisis and major adjustment. In the late 1950s, the flexibility shown by the International Monetary Fund (IMF) toward Western European countries was a determinant in these countries’ success in eliminating foreign exchange restrictions and establishing current account convertibility.

Development is multidimensional, context-specific and about transformation, underpinned by strategic development planning and strengthened State capacity. Proper coordination across various policy areas and diverse actors are needed in bringing about structural and institutional changes, which would lead countries toward economic diversification, stable growth and improved living standards (World Economic and Social Survey, 2017).