The present invention relates to a composition comprising a semi-crystalline, absorbable copolymer formulation wherein the first component is hydroxy-capped polycondensation product of diglycolic acid and a mixture of two idols, diethylene glycol (DEG) and ethylene glycol (EG), with DEG added in larger molar amount, and wherein the second component, glycolide is incorporated during the subsequent ring-opening polymerization. The resulting hydrophilic resin has low crystallinity level, glass transition temperature, Tg, slightly below room temperature, and may be particularly useful for making monofilaments, multifilaments, microspheres, or melt blown nonwoven constructs or other medical devices where fast hydrolysis rates and superior mechanical properties are desirable.