Rethinking Debt Sustainability in the Context of the Millennium Development Goals

The 2005 World Summit Outcome (United Nations, General Assembly 2005b, pp. 7-8) noted that debt relief can be an important source of capital for development. Since debt relief for developing countries is currently determined by assessments of what is considered a sustainable external debt burden, it underlined the importance of debt sustainability to the efforts to achieve national development goals, including the Millennium Development Goals (MDGs). It also called for the preparation and implementation in 2006 of national development strategies (NDS) to achieve the internationally agreed development goals and objectives, including the Millennium Development Goals