Achieving the Sustainable Development Goals Will Require Extraordinary Effort by All

The pandemic’s impact on the world’s poor has been especially harsh. COVID-19 may have pushed about 100 million people into extreme poverty in 2020 alone, while the UN warns that in some regions poverty could rise to levels not seen in 30 years. The current crisis has derailed progress toward basic development goals, as low-income developing countries must now balance urgent spending to protect lives and livelihoods with longer-term investments in health, education, physical infrastructure, and other essential needs.

In 2000, global leaders set out to end poverty and create a path to prosperity and opportunity for all. These objectives were anchored by the Millennium Development Goals and 15 years later by the Sustainable Development Goals set out for 2030. The latter represent a shared blueprint for peace and prosperity, for people and the planet, now and into the future. They require significant investments in both human and physical capital.

Until recently, development progressed steadily, albeit unevenly, with measurable success in reducing poverty and child mortality. But even before the pandemic, many countries were not on track to meet the Sustainable Development Goals by 2030. COVID-19 hit the development agenda hard, infecting more than 150 million people and killing over three million. It plunged the world into a severe recession, reversing income convergence trends between low-income developing countries and advanced economies.

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Citation: www.imf.org

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