Monthly Global Forecast | March 2023

Politics and Governance

Montenegro will hold its Presidential Elections on 19 Mar 2023

The parliamentary speaker of Montenegro, Danijela Djurovic, has announced the date for the country’s presidential elections. The elections to replace President Milo Djukanovic will be held on 19 March 2023. President Djukanocic has been serving as the country’s president since 20 May 2018. The political campaigns in Montenegro are predominantly marked by the rift between Montenegrins and those who see themselves as Serbs. In the event of failing to attain more than a 50 per cent majority, the second round of elections will be conducted between the top two candidates.  The president of Montenegro will be elected for a period of five years.

The United States Will Co-host the Second Summit for Democracy from 29 March to 30 March 2023

Alongside the governments of Costa Rica, the Netherlands, the Republic of Korea, and the Republic of Zambia, the United States will co-host the second Summit for Democracy from 29 to 30 March 2023. The summit will bring together world leaders through virtual or plenary formats, along with multiple gatherings in each of the co-hosted countries that will be attended by country representatives and representatives from private and civil sectors. According to the White House, the summit will strengthen democratic institutions and tackle corruption. With setting goals for the upcoming year, the summit will also be a platform to witness the countries’ progress in the first iterations’ commitments.

Defence and Security

The largest Military Exercise in Norway, Joint Viking, will Commence on 4 March 2023

With the purpose of training to defend Norway, the largest Norwegian winter military exercise in collaboration with Norway’s allies and civilian partners will take place from 4 March 2023 to 16 March 2023. The bi-yearly military exercise, Joint Viking, will be held after a gap of one extra year against the backdrop of the Russia-Ukraine war. This is because, according to the Norwegian mandate, the security situation has deteriorated severely in the past year, which has increased the urgency of good preparedness and well-trained military forces that the exercise will aim to ensure. Approximately 10,000 Norwegian and allied soldiers will train in this military exercise.

International Day for Disarmament and Non-Proliferation Awareness will be Observed on 5 March 2023

Promoting awareness and understanding of disarmament issues in public, the International Day for Disarmament and Non-Proliferation Awareness will be observed on 5 March 2023. It was adopted for the first time on 7 December 2022 when the UN General Assembly unanimously supported the initiative of the Kyrgyzstan government, which is a supporter of the idea of a nuclear weapons-free world. This observance day will play a role in communicating the significance of disarmament towards peace and security and how it will ensure human security. The day will motivate national governments, international organisations, academia, and civil society to consider concrete measures for the implementation of disarmament measures.

Trade and Economics


A Meeting of the G20 Foreign Ministers will be held on 1 March 2023 Under the Indian Presidency

The foreign ministers of the Group of Twenty (G20) countries will meet in New Delhi in March this year on 1 March 2023. This will be the first foreign ministers meeting after India assumed the G20 presidency in December 2022. The meeting’s proceedings will focus on global challenges, including the energy crisis, debt crisis and spiralling overall inflation. The meeting will deliberate on financial stability at the global level. The meeting will set the stage for India’s agenda for the G20 presidency, which includes digital inclusion, a push for early implementation of the Sustainable Development Goals (SDGs), and green growth.

United Nations will Conduct the 2023 ECOSOC Special Meeting on “International Cooperation in Tax Matters” on 31 March 2023

The Special Meeting of the Council on International Cooperation in Tax Matters 2023 will take place in New York, US, on 31 March 2023. The meeting will aim to advance the policy dialogues on making the international taxation system better and more effective. The proceedings will be disseminated in the form of the President’s summary. The platform will provide an occasion for member states, members of the UN Tax Committee, international organisations and other stakeholders to benefit from engaging in discussions. The meeting will be followed by the adoption of a new resolution on the “Promotion of inclusive and effective international tax cooperation at the United Nations” by the General Assembly.

Social Issues

International Women’s Day will be Observed on 8 March 2023

Under the theme “DigitALL: Innovation and technology for gender equality”, International Women’s Day will be observed on 8 March 2023. The theme will complement the main theme for the upcoming 67th Session of the Commission on the Status of Women (CSW-67), “Innovation and technological change, and education in the digital age for achieving gender equality and the empowerment of all women and girls”. The day will aim to help forge a gender-equal world while acknowledging and celebrating women’s achievements and increasing visibility. This year’s theme will highlight the role of all stakeholders in improving women’s access to digital tools and technology.

International Day to Combat Islamophobia will be Observed on 15 March 2023

Adopted by the United Nations General Assembly as a resolution sponsored by 60 Member-States of the Organization of Islamic Cooperation (OIC), 15 March 2023 will be observed as the International Day to Combat Islamophobia. The day will be an annual reminder of the need to combat Islamophobia. The day will raise awareness to not associate violent extremism with any religion or ethnic group and respect the diversity of religions. The resolution for this day was adopted after a gunman entered two mosques in Christchurch, New Zealand, killing 51 victims and injuring 40 others. The day will advocate the end to acts of discrimination, hostility and violence towards Muslims.

Energy and Environment

Joint Eighth and Ninth Review Meeting of the Contracting Parties to the Convention on Nuclear Safety (CNS) 2023 will be held from 20 March to 31 March 2023

With the aim to review the National Reports of all Contracting Parties, the Review Meetings Meeting of the Contracting Parties to the Convention on Nuclear Safety will be held after three years, in accordance with Article 21(3) of the Convention, from 20 March to 31 March 2023. The Review Meeting will consist of three main parts, including the Opening Plenary Session, the Country Group Sessions and the Final Plenary Session. The conference will be organised as a “green meeting” and will also focus on the areas of paper smart documentation, waste reduction and recycling, and environmentally friendly catering.

UN-Water Conference will be held from 22 March to 24 Mar 2023

UN Conference on the Midterm Comprehensive Review of the Implementation of the Objectives of the International Decade for Action, ‘Water for Sustainable Development,’ will be conducted from 22 March to 24 March 2023. The conference will be held in New York and will focus on the objectives of the Water Action Decade 2018-2028. The conference will be co-hosted by Tajikistan and the Netherlands. The conference will also deliberate on proposals for the themes of the interactive dialogues submitted by Non-governmental organisations, civil society organisations, academic institutions, and the scientific community. The main agenda of the conference will include opening and closing sessions, six plenary sessions, and five interactive dialogues.


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