Millennium Development Goals (MDG) Gap Task Force Report 2015

Taking Stock of the Global Partnership for Development

image of Millennium Development Goals (MDG) Gap Task Force Report 2015

The present report was prepared by the MDG Gap Task Force, which was created by the Secretary-General of the United Nations to improve the monitoring of MDG 8 by leveraging inter-agency coordination. More than 30 United Nations entities and other organizations are represented in the Task Force, including the World Bank and the International Monetary Fund, as well as the Organization for Economic Cooperation and Development and the World Trade Organization. The Department of Economic and Social Affairs of the United Nations Secretariat (UN/DESA) and the United Nations Development Programme (UNDP) acted as lead agencies in organizing the work of the Task Force.



Debt sustainability

Debt is a powerful financial tool that has been part of human societies throughout recorded history. However, accumulation of debt also comes with a number of risks in terms of fiscal and debt sustainability, with links to financial stability. International efforts are thus made to help States manage their public finances sustainably. MDG 8 addressed these risks, focusing in particular on the difficulties faced by the group of heavily indebted poor countries (HIPCs), and on monitoring indicators of sustainable debt. International policymaking since the Millennium Declaration has sought to reduce the debt of the HIPCs, ease the process of sovereign debt restructuring, and strengthen debt surveillance and debt management capacities.


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