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Freer access to industrial country markets and greater and more predictable aid are needed to support sustainable development (included under Goal 8 of the MDGs). Countries in the developed world need to support more robust world economic growth by opening their markets to exports from the developing world. As IMF Managing Director Horst Köhler has stated, “we need to work first and foremost on trade . . . this requires greater ambition to open markets and phase out trade-distorting subsidies in the industrial countries, beginning with agriculture, textiles, and labor-intensive manufactures.”54 Higher aid flows will also facilitate growth, since it is unlikely that many poor countries, particularly in Africa, can mobilize enough of their own resources to meet all of their human development needs.

Moreover, aid flows could be made more continuous and predictable, in order to facilitate budget planning in developing countries. The need for more trade and more aid is echoed in the New Partnership for Africa’s Development (NEPAD), which calls on the international community “to reverse the decline in ODA [official development assistance] flows to Africa and . . . . admit goods into markets of developed countries. . . ."

Fiscal Dimensions of Sustainable Development Prepared for World Summit on Sustainable Development Johannesburg, August 26–September 4, 2002 To learn more about this author, visit International Monetary Fund's Website.

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International Monetary Fund
(Visit International's Website)
The IMF is an international organization of 185 member countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries to help ease balance of payments adjustment. Since the IMF was established its purposes have remained unchanged but its operations—which involve surveillance, financial assistance, and technical assistance—have developed to meet the changing needs of its member countries in an evolving world economy.
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