Skip to content

We ask you, humbly: don't scroll away.

Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.

Help Now >

Holy See on Financing for Development

Free World Class Education
FREE Catholic Classes

"Emerging Consensus Among Donors and Recipient Governments"

NEW YORK, OCT. 13, 2006 (Zenit) - Archbishop Celestino Migliore, the Holy See's permanent observer to the United Nations, delivered a talk Tuesday before the second committee of the 61st session of the General Assembly.

The committee is studying the "Follow-up to and Implementation of the Outcome of the International Conference on Financing for Development."

* * *

Madam Chair,

My delegation welcomes this discussion on the subject of Financing for Development, in particular the specific recommendations contained in this report that are intended to result in concrete follow-up action.

At the outset, it concurs with the emphasis given to fighting all forms of corruption and to the importance attributed to having a sound governance framework and strong institutions to enable effective resource mobilization. At the same time, it recognizes that the task of improving existing governance frameworks in developing countries must necessarily be a gradual process.

My delegation also concurs with the view that low-income developing countries face the greatest difficulties in mobilizing domestic resources for development. These countries should therefore be the subjects of particular attention, especially since foreign direct investment (FDI) is unlikely to be significant, primarily because it is not meant to resolve problems of poverty and development as such, but it may help do so if properly regulated.

We ask you, humbly: don't scroll away.

Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.

Help Now >

The Poverty Reduction Strategy Papers (PRSPs), prepared by developing country governments through participatory processes, have an important role in this process since they could provide an appropriate framework for defining national development strategies. In this regard, the encouraging progress made by 70 low-income developing countries in completing 50 PRSPs by June 2006 is, in itself, a testimony to the importance these strategy papers have for increasing domestic resources.

The PRSPs could also provide an important link to the achievement of the Millennium Development Goals (MDGs) by low-income developing countries, many of which are well behind the targets to be reached by 2015. Given the importance that the PRSPs have for poverty reduction, the Holy See would encourage all global institutions committed to reducing poverty in the poorest countries of the world to stay actively engaged in this process and closely monitor, if possible annually, the progress being made by each of these countries towards the MDGs they have set for themselves.

The importance of the mobilization of finances in the developing world and their effective use within those economies is of little doubt, although the reality matching the commitment can always be improved. The task for states in this regard would seem to be the promotion of those circumstances within their purview that can facilitate the mobilization of financial resources for development, not just by facilitating FDI, but also through their own ongoing initiatives.

In this context, it is also gratifying that the report notes how, as a result of the commitments made at Monterrey, the decline in official development assistance (ODA) has been reversed, a welcome and much-needed positive trend, if developed states live up to their commitments. Nevertheless, another $150 billion will still have to be found if the MDGs are to have a chance of success.

It is also welcome to see the emerging consensus among donors and recipient governments on the actions required to foster better development results. The process towards greater mutual accountability for development results has gained significant momentum since the Monterrey Conference, in particular with the Rome High-level Forum on Harmonization and the Paris High-level Forum on Joint Progress towards Enhanced Aid Effectiveness. The principles of ownership, harmonization, alignment, results and mutual accountability appear sound and, it is to be hoped, will be a further step on the way to aid effectiveness.

External debt, which has crippled many economies for decades, also remains a concern although several useful initiatives are making inroads into the problem. The G-8 proposal of July 2006 that IMF, the International Development Association (IDA) and the African Development Fund cancel 100% of their claims over the poorest countries, most of them in Africa, is a welcome addition to the other initiatives in this regard.

Deacon Keith Fournier Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you. Help Now >

The report, therefore, paints a generally positive picture of the engagement in this field since Monterrey but, if the MDGs are to be reached by 2015, it will be important for all partners to stay engaged and to address systemic issues, above all those which concern steps to create and maintain an equitable international monetary, financial and trading system which will be fair, open and capable of supporting development.

Thank you, Madam Chair.

[Original text in English; adapted]

Contact

Catholic Online
https://www.catholic.org CA, US
Catholic Online - Publisher, 661 869-1000

Email

info@yourcatholicvoice.org

Keywords

Holy See, Finance, UN, Migliore, Development

We ask you, humbly: don't scroll away.

Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.

Help Now >

More Catholic PRWire

Showing 1 - 50 of 4,716

A Recession Antidote
Randy Hain

Monaco & The Vatican: Monaco's Grace Kelly Exhibit to Rome--A Review of Monegasque-Holy See Diplomatic History
Dna. Maria St. Catherine Sharpe, t.o.s.m., T.O.SS.T.

The Why of Jesus' Death: A Pauline Perspective
Jerom Paul

A Royal Betrayal: Catholic Monaco Liberalizes Abortion
Dna. Maria St.Catherine De Grace Sharpe, t.o.s.m., T.O.SS.T.

Embrace every moment as sacred time
Mary Regina Morrell

My Dad
JoMarie Grinkiewicz

Letting go is simple wisdom with divine potential
Mary Regina Morrell

Father Lombardi's Address on Catholic Media
Catholic Online

Pope's Words to Pontifical Latin American College
Catholic Online

Prelate: Genetics Needs a Conscience
Catholic Online

State Aid for Catholic Schools: Help or Hindrance?
Catholic Online

Scorsese Planning Movie on Japanese Martyrs
Catholic Online

2 Nuns Kidnapped in Kenya Set Free
Catholic Online

Holy See-Israel Negotiation Moves Forward
Catholic Online

Franchising to Evangelize
Catholic Online

Catholics Decry Anti-Christianity in Israel
Catholic Online

Pope and Gordon Brown Meet About Development Aid
Catholic Online

Pontiff Backs Latin America's Continental Mission
Catholic Online

Cardinal Warns Against Anti-Catholic Education
Catholic Online

Full Circle
Robert Gieb

Three words to a deeper faith
Paul Sposite

Relections for Lent 2009
chris anthony

Wisdom lies beyond the surface of life
Mary Regina Morrell

World Food Program Director on Lent
Catholic Online

Moral Clarity
DAN SHEA

Pope's Lenten Message for 2009
Catholic Online

A Prayer for Monaco: Remembering the Faith Legacy of Prince Rainier III & Princess Grace and Contemplating the Moral Challenges of Prince Albert II
Dna. Maria St. Catherine Sharpe

Keeping a Lid on Permissiveness
Sally Connolly

Glimpse of Me
Sarah Reinhard

The 3 stages of life
Michele Szekely

Sex and the Married Woman
Cheryl Dickow

A Catholic Woman Returns to the Church
Cheryl Dickow

Modernity & Morality
Dan Shea

Just a Minute
Sarah Reinhard

Catholic identity ... triumphant reemergence!
Hugh McNichol

Edging God Out
Paul Sposite

Burying a St. Joseph Statue
Cheryl Dickow

George Bush Speaks on Papal Visit
Catholic Online

Sometimes moving forward means moving the canoe
Mary Regina Morrell

Action Changes Things: Teaching our Kids about Community Service
Lisa Hendey

Easter... A Way of Life
Paul Spoisite

Papal initiative...peace and harmony!
Hugh McNichol

Proclaim the mysteries of the Resurrection!
Hugh McNichol

Jerusalem Patriarch's Easter Message
Catholic Online

Good Friday Sermon of Father Cantalamessa
Catholic Online

Papal Address at the End of the Way of the Cross
Catholic Online

Cardinal Zen's Meditations for Via Crucis
Catholic Online

Interview With Vatican Aide on Jewish-Catholic Relations
Catholic Online

Pope Benedict XVI On the Easter Triduum
Catholic Online

Holy Saturday...anticipation!
Hugh McNichol

Join the Movement
When you sign up below, you don't just join an email list - you're joining an entire movement for Free world class Catholic education.

Lent logo
Saint of the Day logo
Light Your Free Payer Candle for a departed loved one

What is Palm Sunday?

Live on March 20, 2024 @ 10am PDT

Catholic Online Logo

Copyright 2024 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2024 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.

Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.