Thomson Reuters Foundation: Financing for global goals under threat just when most needed, says OECD head
“The COVID-19 crisis has pushed to $4 trillion this year’s shortfall in funding needed for developing nations to meet global goals to end poverty and hunger by 2030, throwing them further off track, a summit of public banks heard on Thursday. Angel Gurría, secretary general of the Organisation for Economic Co-operation and Development (OECD), noted that 90 out of 122 developing countries had entered recession as shutdowns to curb coronavirus hit sectors like tourism and manufacturing. Developing nations have seen a $700-billion drop in external private finance this year due to a decline in foreign investment and remittances, he added…” (Rowling, 11/12).