The third annual Global Monitoring Report on the Millennium Development Goals (MDGs), subtitled Strengthening Mutual Accountability – Aid, Trade and Governance was published on April 20, 2006, by the World Bank and the International Monetary Fund.
It highlights economic growth, better quality aid, and trade reforms, as well as governance as essential elements to achieve the Millennium Development Goals.
"Less than 10 years remain until 2015, the target year for the MDGs. We are making progress in many countries, and this shows that development efforts can deliver results. But with just a decade to achieve the goals, it’s urgent for both developing countries and the donor community to improve governance to ensure we get the results we seek. This report proposes a framework that defines governance, and proposes tools for monitoring it."
— Paul Wolfowitz, President, The World Bank
The elements of global monitoring examined in detail in the report include poverty and malnutrition; human development outcomes; meeting commitments on aid, trade, and debt relief; performance of international financial institutions; governance in developing countries; and global checks and balances to strengthen governance.
The report was prepared by a team of authors led by Mark Sundberg under the direction of the Bank's chief economist, François Bourguignon and the Director of Development Policy, Alan Gelb, and Andy Berg of the International Monetary Fund.