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Poorer countries require investment for recovery

Poorer countries require investment for recovery

Geneva, Sep 28 (Prensa Latina) The poorest countries´ recoveries from a crisis such as the Covid-19 depends on increasing their production capacities, which entails greater state investments, UNCTAD said on Monday.

With no support from the international community, the poorest nations will remain outside the global economy and will not move on sustainable progress, the UN Conference on Trade and Development (UNCTAD) warned.

The UN Secretariat General claimed that the poorest countries are at a critical juncture and really need this support to boost their productive and institutional capacities, allowing them to generate goods and services.

The production development would enable them to foster structural economic transformation, which in turn would help reduce poverty and speed up progress on the Sustainable Development Goals (SDGs), which requires massive investments and expenditures beyond their own financial means.

The report also warned that the least developed countries category includes 46, of which in the last two decades, only a few of them showed signs of recovery and significant production improvements.

In view of the Covid-19 pandemic, these nations registered the worst results in three decades and their institutional, economic and social deficiencies were revealed, and to top it off their access to vaccines is extremely limited with immunization rates of only 2% of their population, compared to 41% of the developed countries.

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