The poverty reduction challenge in LDCs

This is a summary of the report of an expert group meeting on resource mobilization for poverty eradication in the least developed countries held at United Nations Headquarters in New York on 19 and 20 January 2004. The first part of the report provides an overview of the current challenges faced by the LDCs in reducing the high rates of widespread poverty. The second part discusses innovative approaches to domestic resource mobilization in LDCs, and addresses how domestic resource mobilization can be managed more innovatively and with greater effectiveness. The third part examines new approaches to debt relief and debt sustainability. It provides a brief overview of the debt situation in LDCs, and examines the need for innovate ideas to reduce foreign debt. The last section discusses specific measures to accelerate poverty reduction in LDCs. The report is intended to contribute to the debate on resource mobilization for poverty eradication in the LDCs, leading to practical solutions, policies and actions by all concerned.