Monthly Global Forecast | March 2024

Politics and Governance

The 55th Session of the United Nations Statistical Commission is scheduled for 27 February to 1 March 2024

The fifty-fifth session of the United Nations Statistical Commission takes place from 27 February to 1 March 2024 in New York. It aims to address various global statistical issues. Its primary objective is to discuss and approve global statistical standards, including the Fundamental Principles of Official Statistics, and to promote the use of reliable and accurate data for policymaking and decision-making processes worldwide. Topics such as national accounts, social and demographic statistics, population and housing census, and the utilisation of big data and data science will be deliberated upon to enhance the effectiveness and relevance of statistical information in addressing global challenges.

Iran’s Legislative Elections scheduled for 1 March 2024

Iran’s Legislative Elections will be scheduled on 1 March 2024. Iranians will vote for the 290-seat parliament and the 88-seat Assembly of Experts advising Supreme Leader Ayatollah Ali Khamenei. President Ebrahim Raisi aims to boost voter turnout after low participation in 2020. Some reformist and moderate candidates were disqualified, potentially leading to a more conservative legislature and a hard-line speaker. The exclusion of figures like former President Hassan Rouhani hints at shifts in leadership dynamics. The elections occur amidst widespread discontent over economic challenges and political restrictions, with calls for boycotts from some opposition figures. The election’s objective lies in shaping Iran’s political landscape and future leadership succession.

The Election Commission of Pakistan will hold an Election for President on 9 March 2024

The Election Commission of Pakistan (ECP) is preparing for the presidential election by 9 March 2024 amidst post-poll challenges and rigging allegations. Asif Ali Zardari is the consensus candidate of the six-party alliance led by PML-N’s Shehbaz Sharif. The Senate elections are also imminent. The term-wise data indicates significant retirements, particularly for PML-N and PPP. The ECP has also issued notifications for reserved seats, albeit some are pending due to PTI-backed candidates joining the Sunni Ittehad Council. The upcoming elections will shape Pakistan’s political landscape, determining the composition of key institutions and the direction of governance.

Defence and Security

China, Russia and Iran Navy drills scheduled before the end of March 2024

China, Russia and Iran joint naval drills are set to take place before the end of March. While the exact location has not been disclosed, the drills are expected to focus on enhancing regional security. Rear Admiral Shahram Irani of Iran’s navy stated that several other countries have been invited to participate. The objective of the drills, as emphasised by Iranian media, is to strengthen cooperation and coordination among the participating navies to address security challenges in the Middle East. These exercises come amidst escalating tensions in the region, particularly in response to recent attacks on commercial vessels in the Red Sea.

Japan’s Joint Antiterror Drills in India scheduled for 25 February to 9 March 2024

The annual joint antiterror exercises, Dharma Guardian, between Japan’s Ground Self-Defence Force (GSDF) and the Indian army scheduled for 25 February to 9 March 2024 in Rajasthan, India, to enhance defence cooperation. The drills involve coordinated efforts in searching for and neutralising terrorists. Approximately 40 troops from GSDF’s 34th Infantry Regiment participated. GSDF Chief of Staff Gen. Yasunori Morishita highlighted the objective of enhancing operational skills and fostering mutual understanding and trust between the two forces. These exercises symbolise a commitment to bolstering regional security and reinforcing the strategic partnership between Japan and India.

Trade and Economics


26th Session of the Committee for Development Policy Plenary scheduled for 4 to 8 March 2024

The 26th session of the Committee for Development Policy (CDP) Plenary Meeting will be held from 4 to 8 March 2024 in New York City, United States. As a subsidiary body of the UN Economic and Social Council (ECOSOC), the CDP advises on matters pertinent to the implementation of the 2030 Agenda for Sustainable Development. The objective of this session is to deliberate on key issues impacting development policy and provide recommendations to ECOSOC to advance sustainable development goals globally. Discussions will focus on strategies to address poverty and inequality and promote inclusive economic growth and environmental sustainability.

ECOSOC Special Meeting on International Cooperation in Tax Matters scheduled for 22 March 2024

The 2024 Economic and Social Council (ECOSOC) Special Meeting on International Cooperation in Tax Matters is scheduled for 22 March 2024 at the United Nations in New York. It aims to advance policy dialogue on leveraging taxation for sustainable development and enhancing the fairness and effectiveness of the international tax system. The objective is to foster collaboration among member states, the UN Tax Committee, international organisations, and stakeholders to address challenges related to tax policies and promote equitable and efficient taxation practices. The meeting will culminate in a President’s Summary, disseminated widely to facilitate continued dialogue and action towards achieving sustainable development goals through effective taxation measures.

Social Issues

68th Session of the Commission on the Status of Women scheduled for 11 to 22 March 2024

The sixty-eighth session of the Commission on the Status of Women (CSW) is scheduled to take place from 11 to 22 March 2024. Representatives from Member States, UN entities, and ECOSOC-accredited NGOs worldwide will convene to contribute to the session’s discussions. The session’s priority theme is accelerating gender equality and women’s empowerment by addressing poverty and enhancing institutions and financing with a gender perspective. Additionally, the review theme will focus on social protection systems, access to public services, and sustainable infrastructure for gender equality. The objective is to formulate strategies and agreements to advance women’s rights and empowerment globally, particularly in these critical areas.

International Day for the Elimination of Racial Discrimination observed on 21 March 2024

The International Day for the Elimination of Racial Discrimination, observed annually on 21 March, commemorates the tragic events of Sharpeville, South Africa, in 1960. It highlights the UN’s ongoing efforts to combat racism and promote equality worldwide. By aligning with the Sustainable Development Goals (SDGs) – particularly SDG 10 (Reduced Inequalities), SDG 16 (Peace, Justice, and Strong Institutions), and SDG 4 (Quality Education) – the day aims to raise awareness, foster dialogue, and encourage action against racial discrimination. Individuals can participate by educating themselves and others, speaking out against racism, supporting anti-racism organisations, and celebrating diversity.

Energy and Environment

Buildings and Climate Global Forum scheduled for 7 and 8 March 2024

The Buildings and Climate Global Forum, co-organized by France and the United Nations Environment Programme (UNEP), will take place on 7 and 8 March 2024 in Paris, France. The Forum aims to convene ministers and high-level representatives to catalyse international collaboration for building decarbonization and resilience post-COP28. Over 800 participants are expected, including stakeholders from various sectors. Sessions, roundtables, and exhibitions will facilitate exchange and networking. The Forum seeks to endorse a common declaration and encourage specific engagements to advance global efforts in building sector decarbonization and climate resilience, following the successful launch of the Buildings Breakthrough at COP28 in Dubai.

Energy Transitions 2024 scheduled for 12 and 13 March 2024

The Energy Transitions 2024 event is scheduled to take place on 12 and 13 March 2024 in London, England, UK. The objective of the event is to convene senior leaders, industry experts, and decision-makers to discuss various aspects of energy transitions, including affordable energy infrastructure, renewable technologies, energy sovereignty, and industrial transition pathways. Topics will cover the “energy trilemma,” building affordable energy systems, and navigating net zero, with a focus on geopolitical developments, investment, government subsidies, regulations, and international collaboration to achieve global decarbonisation targets.

World Water Day scheduled for 22 March 2024

World Water Day, observed annually on 22 March, aims to raise awareness about the importance of water in various aspects of life, including environment, agriculture, health, and trade. Events worldwide include artistic celebrations, symposia, educational activities, fundraising campaigns, excursions, and media broadcasts. The initiative, established in 1993 following the UN General Assembly’s resolution, stems from Agenda 21’s recommendations to address environmental concerns. The Water for Life Decade, launched in 2005, emphasises women’s participation and the UN’s water-related programs, striving to ensure sustainable water management and access for all.


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