‘Makati Declaration’ Unites Middle-Income Countries on Shared Development Goals

Middle-income nations attending a forum led by the Philippines have signed the “Makati Declaration,” a document spotlighting their common development challenges and priorities. Foreign Affairs Secretary Enrique Manalo explained that while these nations experience rapid economic growth, they still grapple with inequality, unemployment, climate change, and limited access to concessional financing.

The declaration calls for support in areas such as debt sustainability, climate finance, digital transformation, science and innovation, gender equality, and social protection. The signatory countries include the Philippines, Mexico, Colombia, Jamaica, Lebanon, and several others.

Manalo noted that middle-income countries (MICs) make up 75% of the global population, 60% of the world’s poor, and a third of global GDP — yet are often excluded from favorable financial assistance programs.