Saturday, October 18, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Ukraine war could increase shocks for developing countries, UN warns — Global Issues

by Global Issues
April 13, 2022
in World
Reading Time: 3 mins read
A A
0
Home World
Share on FacebookShare on Twitter

Whereas wealthy nations had been in a position to help their pandemic restoration with file sums borrowed at ultra-low rates of interest, the poorest international locations spent billions servicing debt, thus stopping them from investing in sustainable improvement. 

COVID-19 pushed 77 million extra individuals into excessive poverty in 2021, whereas many economies remained under pre-2019 ranges, in response to the Financing for Sustainable Growth Report: Bridging the Finance Divide. 

‘No excuse for inaction’ 

Moreover, it’s estimated that one in 5 creating international locations won’t see their Gross Home Product (GDP) return to 2019 ranges by the top of subsequent 12 months, even earlier than absorbing the impacts of the Ukraine battle, which is already affecting meals, vitality, and finance throughout the globe. 

The report was produced by the UN Division of Financial and Social Affairs (DESA) along with greater than 60 worldwide businesses, together with inside the UN system, and worldwide monetary establishments. 

UN Deputy Secretary-Common Amina Mohammed described the findings as “alarming”, provided that the world is on the midway mark for financing the Sustainable Growth Targets (SDGs). 

“There isn’t a excuse for inaction at this defining second of collective accountability, to make sure tons of of tens of millions of persons are lifted out of starvation and poverty. We should put money into entry for respectable and inexperienced jobs, social safety, healthcare and training leaving nobody behind,” she stated. 

New challenges on the horizon 

The report reveals that on common, the poorest creating international locations pay round 14 per cent of income for curiosity on their debt, whereas the determine is 3.5 per cent for richer nations. 

The pandemic compelled governments to chop budgets for training, infrastructure and different capital spending.  Fallouts from the warfare in Ukraine – corresponding to larger vitality and commodity costs, in addition to renewed provide chain disruptions – will solely exacerbate these challenges and spark new ones. 

The warfare can also be prone to end in additional will increase to debt misery and elevated starvation, additional widening “pandemic restoration gaps” that existed earlier than the battle. 

Construct on progress 

Liu Zhenmin, the DESA chief, pointed to a possible silver lining for the best way ahead. 

“The developed world proved within the final two years that tens of millions will be lifted out of poverty by the correct of funding – in resilient and clear infrastructure, social safety or public companies,” he stated. 

“The worldwide group should construct on that progress, and guarantee creating international locations can make investments at comparable ranges, whereas lowering inequality and securing a sustainable vitality transition.” 

The previous 12 months was additionally marked by some advances on poverty discount, social safety and funding in sustainable improvement, pushed by actions in develop international locations and a few massive creating nations, together with some $17 trillion in COVID-19 emergency spending. 

Moreover, Official Growth Help (ODA) reached $161.2 billion in 2020, the very best degree ever.   

Nonetheless, 13 governments additionally minimize this help to creating international locations, and the file sum remains to be inadequate to fulfill the huge wants. 

The UN fears that elevated spending on refugees in Europe, one other fallout of the warfare in Ukraine, may result in cuts in assist to the world’s poorest international locations. 

Bridging the finance divide 

To bridge the “nice finance divide”, the report requires international locations to urgently deal with financing gaps and rising debt dangers. 

This may happen by way of a number of measures, corresponding to dashing up debt reduction and increasing eligibility to extremely indebted middle-income international locations. 

“It might be a tragedy if donors elevated their army expenditure on the expense of Official Growth Help and local weather motion. And it could be a tragedy if creating international locations proceed to default, on the expense of investments in social companies and local weather resilience,” stated Ms. Mohammed. 

Financing flows should even be aligned with sustainable improvement and local weather motion. with the worldwide tax system permitting for truthful tax governance, commerce and funding coverage actions that counter vaccine inequality and enhance entry to medical merchandise. 

Enhanced transparency will strengthen international locations’ means to handle dangers and use sources properly. Measures right here may embody tackling illicit monetary flows by way of improved sharing and use of tax info, in addition to boosting transparency of debt information.



Source link

Tags: countriesDevelopingGlobalincreaseIssuesshocksUkraineWarWarns
Previous Post

Peeking At Peak Inflation; CarMax Blows A Tire & Apple’s Red Scare

Next Post

Brazil’s TOTVS taps Itau Unibanco to create financial services joint venture By Reuters

Related Posts

Passenger bus crash in northeastern Brazil leaves 15 dead

Passenger bus crash in northeastern Brazil leaves 15 dead

by Brazil
October 18, 2025
0

SAO PAULO -- SAO PAULO (AP) — A passenger bus in northeastern Brazil crashed right into a sand embankment and...

Putin foe found ‘stabbed to death’ in Turkish villa where he lived in exile

Putin foe found ‘stabbed to death’ in Turkish villa where he lived in exile

by Jon Rogers
October 18, 2025
0

Vladimir Putin and Abakar Abakarov A FOE of Vladimir Putin has been discovered “stabbed to dying” in Turkey the place...

Trump is Done With Zelensky, Tomahawk Snub Clinches It

Trump is Done With Zelensky, Tomahawk Snub Clinches It

by Author
October 18, 2025
0

https://sputnikglobe.com/20251018/trump-is-done-with-zelensky-tomahawk-snub-clinches-it---ex-pentagon-analyst-1122984726.htmlTrump is Accomplished With Zelensky, Tomahawk Snub Clinches It - Ex-Pentagon AnalystTrump is Accomplished With Zelensky, Tomahawk Snub Clinches It...

Pakistan and Afghanistan to hold peace talks in Doha — RT World News

Pakistan and Afghanistan to hold peace talks in Doha — RT World News

by RT
October 18, 2025
0

The delegations for the Qatari-mediated negotiations will likely be led by the protection ministers of the Asian neighbors Kabul and...

PoJK political crisis: 3 ministers resign from Chaudhary Anwarul Haq’s cabinet; accuse him of neglecting Kashmiri refugees’ rights

PoJK political crisis: 3 ministers resign from Chaudhary Anwarul Haq’s cabinet; accuse him of neglecting Kashmiri refugees’ rights

by TOI World Desk
October 18, 2025
0

Three senior ministers within the cupboard of Pakistan-occupied Jammu and Kashmir (PoJK) Prime Minister Chaudhry Anwarul Haq resigned on Saturday....

Who are the released hostages?

Who are the released hostages?

by Euro Times
October 18, 2025
0

The Israeli army says 20 residing hostages have been launched by Hamas and have returned to Israel. Till Monday, 48...

Next Post
Brazil’s TOTVS taps Itau Unibanco to create financial services joint venture By Reuters

Brazil's TOTVS taps Itau Unibanco to create financial services joint venture By Reuters

Kings Club Continues Expansion With Venum Partnership Under Assad Al Hanini

Kings Club Continues Expansion With Venum Partnership Under Assad Al Hanini

Passenger bus crash in northeastern Brazil leaves 15 dead

Passenger bus crash in northeastern Brazil leaves 15 dead

October 18, 2025
Putin foe found ‘stabbed to death’ in Turkish villa where he lived in exile

Putin foe found ‘stabbed to death’ in Turkish villa where he lived in exile

October 18, 2025
Big Tech’s AI ambitions are remaking the US power grid. Consumers are paying the price.

Big Tech’s AI ambitions are remaking the US power grid. Consumers are paying the price.

October 18, 2025
‘Tracker’ Season 3: How to Watch the First Episode Without Cable

‘Tracker’ Season 3: How to Watch the First Episode Without Cable

October 18, 2025
Does Elon Musk deserve the world’s biggest pay package?

Does Elon Musk deserve the world’s biggest pay package?

October 18, 2025
Interstate 5 closes through Camp Pendleton, traffic backs up in Southern California as military set to fire artillery

Interstate 5 closes through Camp Pendleton, traffic backs up in Southern California as military set to fire artillery

October 18, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Passenger bus crash in northeastern Brazil leaves 15 dead

Putin foe found ‘stabbed to death’ in Turkish villa where he lived in exile

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In