According to the U.N. Development Program (UNDP), while many countries are beginning to rebound from the COVID-19 pandemic, a significant portion of the world’s poorest nations are experiencing a worsening of conditions. The UNDP expects the Human Development Index to reach record highs in 2023 after steep declines in 2020 and 2021 due to the pandemic. However, development in half of the world’s poorest countries remains below 2019 pre-pandemic levels, the UNDP Human Development report said.
Economic inequities amplified
The UNDP report highlights the concentration of economic wealth as a significant factor exacerbating global inequalities. Almost 40 percent of global trade in goods is concentrated in just three countries. Meanwhile, the cumulative stock market value of tech giants like Amazon, Apple and Microsoft surpasses the gross domestic product (GDP) of over 90 percent of the 193 UN member nations.
Achim Steiner, administrator of the UNDP, emphasizes the importance of global collaboration to address pressing challenges of the 21st century. This includes climate change, pandemics and the digital revolution. However, he warns of increasing division and polarization, fueled by the rise of populism, which undermines international cooperation.
While regional conflicts persist, Steiner argues that the complex threats of the 21st century necessitate collaboration over conflict. He stresses the need to find solutions to challenges like climate change, pandemics and cybercrime, advocating for a collective approach to global security.
The UNDP report advocates for increased investment in global public goods, such as climate stabilization efforts and technological innovation, to benefit human development. It also calls for reforms to the global financial system to better support low-income countries.
Read: U.K.’s economic recovery bolstered as GDP surges in January
Human development scores
According to the UNDP’s latest figures from 2022, the countries with the highest human development scores include Switzerland, Norway, Iceland, Hong Kong, Denmark and Sweden. Moreover, Germany and Ireland both rank seventh.
On the other hand, the countries with the lowest human development include Sierra Leone, Burkina Faso, Yemen, Burundi, Mali, Chad and Niger, among others.
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