Abstract: The Millennium Development Goals (MDGs) are a noble initiative to deal with certain chronic socioeconomic problems of the backward countries. Targeted to achieve eight major goals by 2015, the initiative deserves critical assessment of its achievement and strategies as its time frame is approaching to an end. Based on data on the goals’ achievement from relevant countries, this study argues that while significant achievements are noticeable, these are far less than satisfactory in real terms, secondly, nonachievements of the goals are due to three large factors; first, uncertain international political economic structure and market functioning; second, international power-politics which intentionally affects regime sustainability in the countries concerned and third, domestic dynamics of political power-play which influence allocation of resources for short-term political gains. The research makes a cross-country comparative analysis adopting an approach of institutional analysis in comparative politics.