United Nations A/RES/60/187 General Assembly Distr.: General 9 February 2006 Sixtieth session Agenda item 50 (c) 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. 05-49882