A/RES/60/187. Resolution of the United Nations General Assembly, 2005

• Year: 2005
• Resolution Number: A/RES/60/187
• Session: 60th
• Issuer: General Assembly of the United Nation

United Nations A/RES/60/187

General Assembly Distr.: General

9 February 2006

Sixtieth session

Agenda item 50 (c)

05-49882

Resolution adopted by the General Assembly on 22 December 2005

[on the report of the Second Committee (A/60/486/Add.3)]

60/187. External debt crisis and development

The General Assembly

,

Recalling

its resolutions 58/203 of 23 December 2003 and 59/223 of

22 December 2004 on external debt crisis and development,

Reaffirming

the Monterrey Consensus of the International Conference on

Financing for Development,

1

which recognizes sustainable debt financing as an

important element for mobilizing resources for public and private investment,

Recalling

the United Nations Millennium Declaration adopted on 8 September

2000,

2

Recalling also

the 2005 World Summit Outcome,

3

Recalling further

its resolution 57/270 B of 23 June 2003,

Welcoming

the fact that total debt service for developing countries decreased

in the period from 2003 to 2004, leading to improvements in several traditional debt

indicators,

4

but concerned that some low- and middle-income developing countries

that are not eligible for debt relief under the Heavily Indebted Poor Countries

Initiative are still facing difficulties in finding a durable solution in meeting their

external debt-servicing obligations, which could adversely affect their sustainable

development,

Welcoming also

the fact that the Heavily Indebted Poor Countries Initiative has

enabled heavily indebted poor countries to markedly increase their expenditures on

health, education and other social services consistent with national priorities and

development plans, emphasizing in this regard the need to ensure that debt relief

does not replace other sources of financing, stressing the importance of addressing

the challenges of those heavily indebted poor countries that are facing difficulties in

reaching the completion point under the Initiative, and expressing concern that some

_______________

1 Report of the International Conference on Financing for Development, Monterrey, Mexico, 18–22 March

2002 (United Nations publication, Sales No. E.02.II.A.7), chap. I, resolution 1, annex.

2 See resolution 55/2.

3 See resolution 60/1.

4 See A/60/139, paras. 2 and 6.