This study takes stock of the progress made by Asian and Pacific countries in implementing the six areas of action set out in the Monterrey Consensus of the International Conference on Financing for Development. These include mobilizing domestic and international resources, international trade, financial and technical cooperation, external debt and systemic issues in the regions monetary, financial and trading systems. The study examines whether these systems are sufficient to maintain the regions competitiveness, lays out policy options for the regions Governments and proposes a number of actions to address gaps in both policy and financing.