Abstract
The International Conference on Financing for Development (FfD) took place between the 18 and 22 of March 2002 in Monterrey, Mexico. More than 170 countries adopted a commitment designed to "eradicate poverty, achieve sustained economic growth and promote sustainable development" in the world's poorest countries. The Outcome Document (the "Monterrey Consensus") that was already been agreed at the final Preparatory Committee meeting in New York in January 2002 was formally adopted at the Conference, and the discussions focused essentially on how to implement the Consensus. The aim of the Conference had been to examine the internationally agreed Millennium development goals decade, and especially the ambitious goal of halving the number of people living in absolute poverty by 2015. This Consensus reflected a number of critical commitments "to address the challenges of financing for development around the world, particularly in developing countries." This conference wanted to put development at the centre of financial policy as Consensus emphasized the fact that current aid levels will not suffice to finance the MDGs.
