Spanning across all regions of the world -- from Latin America to Africa, from Eastern Europe to Southeast Asia and the Pacific -- middle-income countries (MICs) constitute over 100 countries, hosting 75% of the world's population and producing 35% of global GDP. Many MICs are in Asia.
The Philippines is among these middle-income countries which all seek to improve the standards of living of their peoples and achieve more sustainable and inclusive development. With a relatively high growth rate, it has been projected that the Philippines will attain upper-middle-income status by 2026.
However, like many MICs, the Philippines confronts special challenges. We are one of the world's most disaster-prone countries and must manage limited resources to alleviate poverty, enhance food security, and build resilience. In this regard, our development trajectory is defined by both promise and vulnerability -- characteristics shared by most, if not all, middle-income countries.
With their tracks sometimes challenged by political and economic shocks, MICs can experience economic slowdowns that can cause them to get stuck in "the middle-income trap". Inequality, unemployment, biodiversity loss, reliance on primary commodity exports, rising risks of debt distress, volatility of exchange rates, and the digital divide, among others, are some of the challenges that constrain MICs.
According to the United Nations Development Programme (UNDP), nearly 60% of people living in poverty are located in MICs. The UN's World Population Prospects report highlights that by 2030, nearly 80% of the world's population will reside in urban areas, and much of this urbanisation will take place in MICs. This is why growth in middle income economies holds much stake for development across the world.
As MICs transition from low-income country status, channels and opportunities for official development assistance, technology transfer, concessional financing, and debt relief regrettably diminish. Instead of further supporting MICs, we observe a situation wherein MICs are being left to fend for themselves.
For too long, the special case of MICs has been overlooked. This must be changed. The achievement of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals will be determined by how effectively the international community can support and accompany MICs in their development journeys.
Calls to redefine the development paradigm have never been so resonant. MICs, including the Philippines, are advocating for a more inclusive support structure that takes into account specific challenges, needs and priorities.
Middle-income countries are central actors in shaping a more equitable, just and sustainable future for all. We strongly support multilateralism and the United Nations.
Our strategic locations, growing consumer markets, rich cultural heritage, and increasingly sophisticated industries make MICs a formidable force for global progress. We can significantly influence debates on the most pressing issues of our time, from digital transformation to climate change.
In this spirit, the upcoming High-Level Conference of Middle-Income Countries in Manila starting from today and tomorrow will seek to bring sharper focus on and galvanise concerted action for the unique situation of MICs.
The conference will be a pivotal opportunity to forge stronger partnerships among MICs and relevant UN agencies, forge joint approaches, and push for reforms to the international financial architecture, including for greater access of MICs to development cooperation, concessional financing, and debt restructuring.
The conference will discuss solutions for MICs that include unlocking innovation, enhancing productive capacity and human development, promoting financing for development, expanding South-South and Triangular cooperation, configuring new economic metrics beyond GDP, and building resilience to global shocks and crises.
The Manila Declaration on Middle-Income Countries to be adopted at the Conference will serve as a roadmap to further raise the voices and interests of MICs in relevant UN processes and scale up global support, including from international financial institutions the UN Development System, through targeted actions for MICs.
Middle-income countries are stepping up in charting new pathways and innovating approaches to making our societies more inclusive, resilient and future-ready.
As a committed partner, pathfinder and peacemaker, the Philippines is working hand-in-hand with other MICs to shape a fairer international system.
Through this High Level Conference that Manila is proud to convene, we place emphasis on cooperation and dialogue as a gateway and gathering point for steadfastly advancing sustainable development across the world, especially in the midst of a changing global environment.
Enrique A. Manalo is the Philippines's Secretary for Foreign Affairs.