![]() While concessional finance will remain an important tool, especially to address urgent humanitarian and social needs, a broader range of financial instruments can help countries with necessary structural transformations. Support for middle-income countries must be tailored to their specific needs and vulnerabilities, in line with national development priorities. There is an urgent need to build on ongoing multilateral efforts to address the growing problem of sovereign indebtedness, including for middle-income countries. This includes coherent and mutually supporting world trade, monetary and financial systems, as well as appropriate mechanisms for the global transfer of knowledge and technologies. “In today’s highly globalized and interconnected world, national development efforts depend more than ever on an enabling international economic environment. This includes difficult transitions towards a growth model that is driven by innovation and productivity growth, and that facilitates an inclusive green transition.”Ģ. How can the international community support middle-income countries in overcoming challenges to sustainable development? Middle-income countries must design and implement coherent and consistent policy measures that address urgent needs in the short-term and strengthen sustainable development trajectories in the long term. At the same time, their economies are still deeply scarred from the COVID-19 pandemic, and many face difficulties in accessing concessional finance. ![]() ![]() Multiple and overlapping current crises – including the global cost-of-living crisis, food insecurity, growing sovereign debt burdens, high geopolitical tensions, and the worsening climate crisis – have amplified challenges and constrained countries’ resources to address them. The picture is similar when it comes to economic indicators such as investment ratios, export concentration or research and development.ĭespite their many differences, middle-income countries face a set of global challenges that require joint action. This is just one example of the great variability of living conditions. However, the highest poverty rate in the upper-middle income group is 40 per cent – above the average in the lower-middle income group. If we divide the group into lower middle-income countries and upper-middle income countries, according to the World Bank methodology, we find average poverty levels of 34 per cent in the former and 10 per cent in the latter. For example, the national poverty headcount ratio measured at $3.65 a day (in 2017 PPP) ranges from less than one per cent to over 75 per cent. They differ widely in their development needs and challenges, and in their capacity to mobilise domestic and external resources. ![]() “Middle-income countries are a large and heterogenous group. Ahead of the UN General Assembly High-level Meeting on Middle-income Countries on 11 May, UN DESA’s Cornelia Kaldewei explains the issues that middle-income countries face today.ġ. What are the biggest challenges facing middle-income countries today? They generate a per capita income from about $1,000 to more than $12,000 per year and together, they are home to three quarters of the world population. Around the world, 107 nations rank as middle-income countries. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |