The Millennium Development Goals (MDGs) represent a global commitment to improve economic and social conditions in low-income countries. Capacity building is key to promoting higher economic growth, which, in turn, is an important prerequisite for making progress toward the MDGs. This paper uses the UNDP's emerging framework for capacity building to show how the IMF supports capacity building at the individual, organizational, and the system level, thereby contributing to the efforts of countries to meeting the MDGs.

A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

The paper reviews the implementation of the initiatives the IMF committed to in 2015 to support developing countries in pursuing the 2030 agenda for sustainable development, including (i) strengthening national tax systems; (ii) tackling large infrastructure gaps; (iii) promoting economic inclusion; (iv) the development of domestic financial markets; (v) intensifying engagement in fragile and conflict-affected states; (vi) improving economic statistics; (vii) expanding the financial safety net for developing countries; and (viii) addressing macroeconomic aspects of climate change. The implementation record to date shows that there has been a large scaling up of IMF support for the 2030 development agenda. The IMF has also engaged in other initiatives of direct relevance for supporting the 2030 development agenda, including adopting a framework to assess corruption vulnerabilities and developing a broad framework for assessing the spending levels needed to reach key SDGs. The paper draws lessons learned from the implementation of the various initiative to inform future IMF engagements.

'The United Nations system was a pioneer in the field of technical cooperation, and capacity development is its central mandate. UNDP has long played an important leadership role in both, as a source of technical cooperation funds and advisory services and as the home of innovative intellectual research and analysis on how to make them more efficient and effective. This book [presents] a vision that builds on new possibilities for knowledge-sharing, for which the revolution in information and communications technologies offers ample opportunities... a vision that is firmly founded on genuine ownership by the ultimate beneficiaries of development efforts: the government and citizens of developing countries' From the Foreword by MARK MALLOCH BROWN, Administrator, UNDP Capacity for Development brings together innovative and well-supported studies of technical cooperation along with its potential to build sustainable capacities in developing countries, by enhancing the knowledge, skills and productive aptitudes of their populations. A team of eminent development professionals and economists examine the achievements of technical cooperation and offer recommendations for reform in the context of globalization, democratisation, the information revolution and the growth of capacities in the South. They analyse the issues from three perspectives: ownership, capacity enablers and knowledge. The team show how the complex processes involved can be restructured to produce local involvement and empowerment, set out a normative framework for the input from society, and describe a new paradigm of knowledge for capacity building in the network age. This book will be essential reading for all development professionals and policy-makers, as well as providing an invaluable research and teaching resource.

The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018