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Millennium Development Goals (MDG) Gap Task Force Report 2011

The Global Partnership for Development - Time to Deliver

image of Millennium Development Goals (MDG) Gap Task Force Report 2011

Significant gaps remain in delivering on the Millennium Development Goals (MDGs) in the areas of aid, trade, debt relief, access to new technologies and affordable essential medicines. This report monitors the progress made in achieving the targets of MDG 8, including continued attention to the impact of the global crisis on meeting the targets set under MDG 8 and embedding any new commitments resulting from the High-level Plenary Meeting of the 65th session of the General Assembly on the MDGs into the monitoring process. Policy coherence is a central theme of this report, which provides recommendations to all major stakeholders on how to address the remaining implementation gaps.

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Debt sustainability

External borrowing plays a crucial role in supplementing domestic savings to finance desirable development investments (including essential infrastructure), accelerating economic growth and smoothing macroeconomic cycles. Yet, for many reasons, both external and domestic, and which also include economic and natural disasters, many developing countries have at one time or another accumulated mounting debt burdens and onerous debt-servicing obligations. Prudent macroeconomic policies and public debt management are necessary conditions for maintaining sustainable debt burdens, but despite such efforts, debt sustainability can be derailed by global economic and financial instability and unexpected shocks.

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