Growing Gap Between Rich and Poor Countries, Says UN

The gulf between rich and poor countries continues to grow, according to the UN, furthering the reversal of a 20-year trend where the gap steadily shrank until 2020. The report found that although each of the 38 OECD (Organisation for Economic Co-operation and Development) countries has recovered from the Covid pandemic, only half of the least-developed countries have done so.

“If you take as an average of all countries you see a story of recovery,” said Achim Steiner, the administrator of the UN Development Programme (UNDP). “But when you look more closely it is a recovery particular to high-income countries. It is not yet a recovery for the low-income and least-developed countries.” The report points to rising populism, “mismanaged globalisation”, and militarisation as the key challenges facing today’s global development. Steiner said: “We are seeing that defence budgets are increased year on year, while development budgets, the very currency of being able to help poorer countries to invest in cooperation, are being slashed. This is a recipe for a much darker future

UN Gap Rich Countries Poor Countries Recovery Covid Pandemic Least-Developed Countries Populism Globalization Militarization Global Development

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