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Millennium Development Goals (MDG) Gap Task Force Report 2010

The Global Partnership for Development at a Critical Juncture

image of Millennium Development Goals (MDG) Gap Task Force Report 2010
Much progress has been made since 2000, but there is still a great deal more to be achieved in order to fulfill the promise of the Millennium Development Goals (MDGs). In this sense, the global partnership for development stands at a critical juncture, with only five years left until the 2015 deadline to delivery on the commitments made and to achieve the MDGs. Remaining gaps are still very large and there have been setbacks because of the global food, energy and financial crises. The deadline for commitments in a number of crucial areas (including increased aid volume, improved aid effectiveness, and the conclusion of the Doha Round of trade negotiations) is 2010, but there is little prospect of successful delivery. The report identifies the implementation gaps in the commitments made under MDG 8 and provides recommendations on how to address them, on strengthening the global partnership, and achieving the MDGs.

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Debt sustainability

When the United Nations Millennium Declaration was adopted in 2000, many developing-country Governments, especially those of low-income countries and a number of middle-income countries, were suffering under unsustainable external debt burdens. The international community had already established the Heavily Indebted Poor Countries (HIPC) Initiative in 1996 to address the debt problems of a group of low-income countries in a comprehensive manner. The Initiative was enhanced in 1998, but by 2000 was still not providing sufficient relief. In addition, in lieu of the 1990s bailouts in Asia and elsewhere, the international community had begun to develop a new international policy to push for cooperative “private sector involvement” in workouts from sovereign debt crises of middle-income countries, whereby private creditors might take losses in debt restructurings. However, it was recognized at the time of the Millennium Declaration that the HIPC and other initiatives were incomplete. Ten years later, they remain incomplete.

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