Millennium Development Goals (MDG) Gap Task Force Report 2009

Strengthening the Global Partnership for Development in a Time of Crisis

image of Millennium Development Goals (MDG) Gap Task Force Report 2009

Further progress has been made towards fulfilling the promises embodied in the Millennium Development Goal 8 (MDG 8). However, the Global Partnership for Development has suffered important setbacks, most of which have arisen from the current state of the world economy which is experiencing its severest downturn since the Great Depression of the 1930s. In the countdown to 2015, urgent responses are needed to bridge the existing implementation gaps to make good on the promises made to achieve the Millennium Development Goals. The 2009 issue of the report by the United Nations Millennium Development Goals Gap Task Force identifies these gaps in detail and provides recommendations to all major stakeholders on how to address these gaps.

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Debt sustainability

At the time of the adoption of the United Nations Millennium Declaration, the primary concern of the international community regarding the external debt of the developing countries was the difficult situation facing the low-income countries. The Heavily Indebted Poor Countries (HIPC) Initiative was launched by the International Monetary Fund (IMF) and the World Bank in 1996 and enhanced in 1998, but progress with the Initiative was slow. The 2002 Monterrey Consensus of the International Conference on Financing for Development underlined the need for the full and speedy implementation of the HIPC Initiative as an important contribution to achieving the MDGs. As part of this process, the HIPC Initiative was complemented in 2005 by the Multilateral Debt Relief Initiative (MDRI). The MDRI, by providing full relief on eligible debt, is designed to free up additional resources to help the HIPC countries achieve the MDGs.

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