Coronavirus Has Endangered UN Development Goals

The United Nations Conference on Trade and Development has concluded that for the world’s poorest countries, the coronavirus pandemic is more of an economic problem than a health and sanitation issue.

According to the latest report from the United Nations Conference on Trade and Development (UNCTAD), countries that are severely economically constrained have coped far better with the health and medical crisis caused by the novel coronavirus (SARS-CoV-2) than wealthy nations.

The UN-affiliated body has concluded that most members of the Least Developed Countries (LDC) group have been spared from the health and medical “disaster” that was predicted at the beginning of the coronavirus spread and the resulting COVID-19 disease.

According to UN classifications, 47 countries considered the “poorest” are members of this group.

The report presents various reasons for this positive trend, including many of these countries’ experience in combating previous epidemics, appropriate and timely government responses, very young populations, and population density in these countries.

It has been confirmed that there is concern that in a second wave of infection, conditions in these countries could worsen.

Economic Consequences

The UNCTAD report states that the coronavirus pandemic has been “devastating” economically for the poorest countries, and they have experienced the lowest economic development in the past 30 years.

While the economies of these countries grew on average by five percent last year, this year their growth is projected to be negative 0.4 percent.

As a result, the average income of the 43 countries in this group continues to decline.

Currently, more than half of the world’s poorest people, earning less than $1.90 per day, live in the 47 countries in this group, while their share of the world’s population is less than 14 percent.

The main reason for the economic collapse of these countries is not the closure of shops and other local measures to combat coronavirus, but rather the global economic recession has caused this negative trend.

According to the UNCTAD report, external demand for the goods and services of these countries has declined sharply.

Countries like Angola, Chad, or Mozambique depend on oil, while Congo or Zambia depend on the sale of minerals and metals, and Bangladesh, Cambodia, or Nepal depend on the sale of textile products, and some countries depend on tourism.

Another important source of wealth for citizens of these countries is remittances received from family members and relatives who live and work in wealthy countries.

Prospects for Achieving UN Goals

Among the 17 goals that were placed on the agenda of UN member countries until 2030 at the 2015 United Nations General Assembly session were combating hunger and the climate crisis. Problems that can only be overcome through the joint cooperation of the global community.

Other goals such as health, education, and gender equality are also at risk.

According to the UNCTAD, the coronavirus pandemic has once again clearly demonstrated all the mistakes and injustices in the global trade and financial system.

The UN body emphasizes that in order to improve the conditions of the poorest countries after the crisis, fundamental measures must be taken within these countries themselves in the field of facilitating export regulations and structural economic reforms.

Another important measure that UNCTAD recommends in this regard is reducing the debt burden of these countries, not in the sense of extending repayment terms, but rather forgiving part of their debt.

Source: DW