The International Conference on Financing for Development (FfD) took place between the 18 and 22 of March 2002 in Monterrey, Mexico. More than 170 countries adopted a commitment designed to "eradicate poverty, achieve sustained economic growth and promote sustainable development" in the world's poorest countries. The Outcome Document (the "Monterrey Consensus") that was already been agreed at the final Preparatory Committee meeting in New York in January 2002 was formally adopted at the Conference, and the discussions focused essentially on how to implement the Consensus. The aim of the Conference had been to examine the internationally agreed Millennium development goals decade, and especially the ambitious goal of halving the number of people living in absolute poverty by 2015. This Consensus reflected a number of critical commitments "to address the challenges of financing for development around the world, particularly in developing countries." This conference wanted to put development at the centre of financial policy as Consensus emphasized the fact that current aid levels will not suffice to finance the MDGs.
[...] But it remains that President Bush asked to be included in the Consensus some conditions: he insisted on the fact that ODAs will only be given to countries that are seriously about undertaking reforms concerning for instance human rights, opening markets Although the respect of these conditions by the countries of the South is essential, it appears that the conditions to receive aid that President Bush imposed might exclude poorest countries that already suffer from exploitative or incompetent government. In the end, it was agreed that to achieve goals concerning Development, ODA will play an essential role as a complement to other resources but in the same time we have to increase the amount of ODA and also to improve their effectiveness. [...]
[...] And for the first time also NGOs were invited to make proposals. Was expressed the wish to organize a conference with actors from widely different backgrounds. The Monterrey conference on financing for development was the first occasion, since the Millennium Summit, for the international community to look at ways of mobilising the necessary finance to achieve the internationally agreed targets at the Millennium Summit for reducing poverty. To remember, the Millennium Development Goals are an ambitious set of targets to eradicate (or at least reduce) poverty by 2015. [...]
[...] This is a message considerable: without democracy, the rule of law, economic reforms and stability-oriented macro policies, the fundamental financial straits of the developing countries cannot be overcome. This was already said in the controversial Washington Consensus of 1989. So where is the change? Conclusion Achieving the internationally agreed development goals, especially the one of halving the number of people living in absolute poverty by 2015, will require not only fundamental changes in the views and policies of all actors but also an increase in financial resources. The Monterrey Consensus tried to answer this question of financing Development. The Monterrey conference [...]
[...] So the principal task of The Monterrey Conference was to find ways to finance programmes and policies of the Millennium Development Goals and aimed at establishing more concrete actions rather than declaration. One of these concrete actions seemed to be the Official Development Assistance. Indeed, in Monterrey was expressed the necessity to increase the amount of these ODAs we're gonna see it in a second part; and we're also going to find out that the outcome document of Monterrey was definitely criticized for not bringing a clear change industrialized. [...]
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