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Moving Forward: International Community

Written by: International Monetary Fund

Article Overview: 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).

Moving Forward: International Community

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

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Article Tags: 26 september, aid flows, ambition, country markets, developed countries, developing countries, developing world, development assistance, economic growth, hler, imf, industrial countries, johannesburg, managing director, nepad, own resources, poor countries, robust world, subsidies, world summit on sustainable development



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