Progress report on implementation of the monterrey consensus on financing for development

Abstract

The key message emanating from the report is that progress remains limited in realizing the objectives of the Monterrey Consensus. Whereas substantial progress was recorded in the area of debt relief, and official development assistance (ODA) to a lesser extent, performance in domestic resource mobilization, foreign capital inflows and international trade has been disappointing. African countries are experiencing weaker export revenues, lower investment and growth rates, and shrinking remittances and FDI flows, which constrain their capacity to meet the Monterrey commitments.