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The Monterrey Consensus emphasised the importance of both the international and national enabling environments for financing development. Since the Monterrey Consensus, there have been important efforts in both these areas. On a national level, many developing countries have made progress in the area of legal and regulatory reform, improving the provision of information and public services, and facilitating private sector development. On an international level, there have been important efforts to improve the voice of developing countries in multilateral institutions. Nonetheless, more needs to be done, particularly as governance arrangements have not kept pace with the changing global context.

The system of global economic and financial governance is overseen by separate and sometimes uncoordinated international bodies. The lack of coherence between different parts of the international system constrains attempts to achieve international goals. Since 2008, the G20 has also taken a role as a coordinating body for global governance, including on issues related to financing for development; however this has reinforced questions about coherence, participation and effectiveness. Regional and plurilateral institutions and arrangements have also been strengthened, though there has not necessarily been increased coordination with the framework for global economic governance. Inclusiveness and representation of the interests of different countries varies across the system, and there are questions about the participation of developing countries in forums where decision making occurs. There are also gaps in global economic governance, which Member States may wish to address.