Chapter I - Introduction and overview - 1. Introduction 1

and war, and increasingly restrictive financing conditions—all In the spring of 2002, world leaders convened in Monterrey, of which represent direct challenges to the achievement of the Mexico, to “address the challenges of financing for develop- SDGs. [...] At the “in the context of the urgent need to accelerate the implementation of the midpoint towards 2030, around half of the 140 SDG targets for which suffi- 2030 Agenda and the achievement of the SDGs and to support reform of cient data is available deviate from the required path. [...] All five major institutional speed up the resolution of ongoing restructurings, find more effective stakeholders of the financing for development process, the IMF, the World tools in case of a widespread systemic debt crisis, and to better address Bank, WTO, the United Nations Conference on Trade and Development the development dimension of current debt challenges. [...] Most developing countries rely only on their own reserves lay out the global macroeconomic context (chapter II); and review progress and limited IMF resources and have been the main users of the 2021 and challenges across the seven action areas of the Addis Agenda, and with SDR allocation. [...] In response to the mandate On global governance, despite repeated commitments to increase received at the ECOSOC Forum on Financing for Development Follow-up the voice and representation of developing countries, significant 2023, to assess “progress made in the implementation of the Monterrey reforms to institutional arrangements have so far not been agreed, and Consensus of the International Con.