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Millennium Development Goals (MDG) Gap Task Force Report 2014

The State of the Global Partnership for Development

image of Millennium Development Goals (MDG) Gap Task Force Report 2014

The MDG Gap Task Force Report systematically tracks existing international commitments and their fulfilment at the international level in the areas of official development assistance, trade, debt relief, and access to essential medicines and technology as defined by the targets and indicators of MDG 8. The MDG Gap Task Force Report 2014 will build on the 2013 Report, by drawing lessons learned from monitoring MDG 8 and analysing conceptual gaps created by how MDG was originally defined. This should provide insight to discussions on the post-2015 agenda. The Task Force consists of more than 30 UN entities, including participation from the World Bank and the IMF, as well as the OECD and WTO. The Department of Economic and Social Affairs of the United Nations Secretariat and UNDP and are the lead agencies in coordinating the work of the Task Force.

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Debt sustainability

Since the United Nations Millennium Summit in 2000, there has been considerable change in the landscape of sovereign debt in developing countries, with many low- and middle-income countries accessing international capital markets, some of them for the first time. The debt indicators of Goal 8 of the Millennium Development Goals (MDGs) focused on the debt difficulties of the heavily indebted poor countries (HIPCs), which have largely been addressed under the terms of the HIPC Initiative and the Multilateral Debt Relief Initiative (MDRI) that complemented it. This is not to say that there are no new risks in some of the HIPC countries, or that other low- or middle-income countries have not also faced debt crises since 2000. In particular, as discussed below, there is currently reason for concern about the debt situation of a number of small States. While Goal 8 contained no indicators for addressing debt crises in non-HIPCs, it implicitly addressed these countries when it called for policies that would lead to sustainable debt levels for all developing countries.

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