Philippines Country Statement; (Delivered at the UN High Level Dialogue on Financing for Development, New York, Oct. 23, 2007)

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Byline: Senator EDGARDO J. ANGARA, Head of Delegation

ON behalf of the Government of the Philippines, we welcome this important conference in preparation for the review of the Monterrey Consensus next year.

We commend the Secretary General's report on the implementation of the Monterrey Consensus, its urgent call for donor countries to meet their aid commitments, and its emphasis on domestic resource mobilization and South-South cooperation.

We appreciate the rising GDP growth of developing countries in the last decade. This represents an enhanced capacity to mobilize financial resources for development. It further demonstrates that countries are able to grow with less dependence on foreign debts and resources.

As the Secretary General's report highlights, while there has been an increase in ODA since the Monterrey Consensus, ODA flows are marked by selectivity and uncertainty. There are many low-income countries that receive very little aid. But a few have …