The first part of the report reviews the status and trends in achieving the Millennium Development Goals (MDGs) in sub-Saharan Africa. The second part examines the obstacles and challenges to and opportunities for achieving the Goals. The third part discusses the instruments and policies that would facilitate achieving the MDGs in sub-Saharan Africa. The report is intended to provide an African perspective with regard to ownership and the domestic policy adjustments required to achieve the internationally agreed development goals. The purpose of the report is to elucidate the following two key issues related to the central question of ownership: (i) the extent to which African policy-makers…
The continued recovery of the world economy resulted in unusually widespread growth in 2004, but a modest slowdown in all regions is expected in 2005, according to projections contained in the World Economic Situation and Prospects 2005 . Dev
Sub-Saharan Africa lags behind other regions in achieving the development goals. Success largely depends on countries themselves owning, planning and executing the necessary policies and programmes. Government's capacity needs to be enhanced, and support from the international community is required. Both the quantity and the quality of aid need to be improved. Countries recovering from conflict face additional challenges. The Committee proposes that a monitoring unit be established within the United Nations to identify those countries most at risk from conflict and that a UN post-conflict reconstruction facility be created to serve as a prompt-response instrument for donor coordination.
Achieving poverty reduction in the least developed countries will require the mobilization of substantial financial resources. At the country level it will depend on (a) improved budgetary management and revenue collection and enhanced private savings and investment opportunities; (b) the generation of foreign exchange, through increased exports and remittances; (c) the ability, in partnership with donors, to reduce existing debt burdens while increasing the quantity, quality and effectiveness of new aid flows; and (d) the ability to attract private capital (investment and commercial inflows) and to reverse capital flight where it has occurred. In designing institutions for good governance…
This paper examines innovative approaches to domestic resource mobilization in selected Least Developed Countries. It covers various aspects of domestic resource mobilization with focus on the linkages to poverty reduction and growth. The areas addressed in this paper include: financial sector reform policies for growth and poverty reduction, Microfinancing, taxation for growth and poverty reduction, management of domestic debt, government spending targeted to crowd in private savings and investment (including public-private partnerships), and mobilization of private capita, including reversal of capital flight and more innovative and active participation in the international trade.
Many of the forces responsible for dramatic growth in the previous decade are now absent or not strong enough to produce such robust performance. While global trade is projected by the World Economic Situation and Prospects 2004 to grow by 7
The aim of this paper is to summarize for discussion purposes arguments related to the debt crisis of poor developing countries and the attempts to cope with it through the HIPC Initiative.
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