Ending Global Poverty

“To end global poverty, radical policy changes are needed because these are the world’s only hope of meeting the UN SDGs. What is needed is urgent debt relief, which would release funds for social and productive investments across developing countries, and a new focus on redistribution with growth both at the global and national levels.”

Andy Sumner will focus on ending global poverty and the UN Sustainable Development Goals (SDGs).

The SDGs serve as a global roadmap to guide collective efforts toward achieving sustainable development by 2030. They encompass many critical areas, such as poverty, health, education, and environmental sustainability. Despite some criticism for being top-down and having complex indicators, they remain a vital framework for addressing global poverty, inequality, and ecological concerns.

Sadly, projections show the real challenge to achieving the poverty-related SDGs due to various factors, including the legacy of the COVID-19 pandemic and subsequent economic challenges. Economic growth alone won’t eliminate global poverty soon, necessitating urgent policy action.

The failure to meet SDGs is tied to a failing global governance system. The need for substantial reforms in international financing mechanisms, notably addressing debt issues and funding gaps, is crucial. There’s a call for a revamp in strategies, especially reconsidering austerity measures promoted by institutions like the IMF and World Bank.

Civil society is pivotal in advocating for SDGs by holding governments accountable. Urgent policy changes are necessary, including substantial debt relief and a focus on redistribution alongside growth, both globally and within nations. Redirecting spending toward social sectors and addressing income, education, and health inequalities are crucial.

The trajectory demands a radical shift towards redistribution policies, an urgent focus on inclusive growth, and expanding fiscal space in developing countries. This includes reallocating

funds towards productive investments and social spending to achieve the SDGs and end global poverty.