The current prevailing world food and energy crisis and the looming tide of climate change have been identified as trends that could erode Millennium Development Goals (MDGs) gains in developing countries. Ghana, especially has been identified as having made significant achievements in development targets set in the MDGs, by halving poverty. The country has also made significant strides in reducing infant and maternal mortality rates as well as in education. These issues came up for discussions during the World Bank’s Development Dialogue Series and the launch of it’s Global Monitoring Report 2008. The theme of the Report is: MDGs and the Environment - Agenda for Inclusive and Sustainable Development. The event took place at the British Council Hall, Friday June 20, 2008. The report which is published by the World Bank raises concerns about the possibility of most African countries failing to reach the global benchmark of eight development targets of the MGD by the year 2015. Making a presentation, a World Bank Economist, Punam Chuhan-Pole said the food and fuel crisis have become threats to sustaining MDGs achievements. She therefore called for a concerted and comprehensive approach to address the issues. She said the countries of the world should act decisively by harnessing energy towards attaining the MDGs, especially in this very important year, 2008, which is the midpoint of the MDGs. In his contributions, the UNDP Resident Representative, Dauda Toure said countries should localise the MDGs and relate them to the needs of the people. He said Ghana again, has been noted for a rational utilization of Official Development Assistance (ODA). “Ghana has been able to have value for money,” he said. He added that what is now being considered is how to allow flow of more resources into countries that have attained development through the MDGs so that much more can be attained. Arnold McIntyre, the IMF Representative, reiterated the fact that the achievements made in the MDGs in most parts of the developing world can be reversed if climate change is not addressed. He also said countries are turning to biofuels in response to current global fuel crisis. He said that by 2005, the US overtook Brazil as the largest producer of ethanol. In the EU, he said, Germany is the largest producer of biofuel. He moreover said, biofuel production in the US which is corn based, is less cost effective than the sugarcane based in Brazil. He therefore, called for policy change to address biofuel production and asked that it is necessary to do more research in second generation biofuel production. Other discussants included Rev. Albert Kwabi of the Christian Council of Ghana, Mrs. Bernice Sam of Women in Law and Development in Africa, Ms. Eunice Dapaah of the World Bank and Prof. Kwaku Apeadu of the National Development Planning Commission. The chairman for the occasion was Rev. Dr. Fred Deegbe of the Christian Council of Ghana which organised the event in collaboration with the IMF, UNDP and the World Bank, Ghana Office. By Emmanuel K. Dogbevi