Slowing economic progress forecasted for 2024, according to United Nations' concerns
VIBRANT GLobal SPHERE: The planet took an unwelcomed detour in 2024, with global development facing a perplexing halt as the worldwide post-pandemic recovery was losing steam – a situation escalated by President Donald Trump's dramatic slashing of US international aid, the United Nations (UN) warned on Tuesday, May 6.
Recovery from the COVID-19 pandemic shock was evident by 2023, as revealed by the UN's Human Development Index (HDI), which evaluates living standards, health, and education. However, it seems that this rebound is losing its pace, according to the United Nations Development Programme’s annual report, released on the same day.
If this unsettling slowdown becomes the norm, achieving the envisioned level of human development by 2030 may slip by decades, making the world less secure, more divided, and more susceptible to economic and ecological shocks, warned UNDP head Achim Steiner.
Recent drastic reductions in international aid, as seen in several countries, particularly the United States, will exacerbate the existing troubles, Steiner told AFP. Trump has slashed numerous programs and dismantled USAID, the country's main foreign development arm.
This move could have devastating consequences on global crises, from food security to refugee support, environmental conservation, and more. For instance, cuts to the World Food Program (WFP) could leave millions without essential food assistance, worsening malnutrition in regions already affected by pandemic-related supply chain disruptions.
The United Nations High Commissioner for Refugees (UNHCR) faces a 50% reduction in senior staff and a 30% cut in the budget, threatening shelter, healthcare, and resettlement programs for displaced populations.
Beyond these immediate crises, reductions in support for health and education could leave low-income countries ill-prepared to handle future health crises and economic shocks. Moreover, geopolitical instability may increase due to eroding diplomatic ties and regional destabilization, potentially intensifying conflicts and migration pressures.
As the largest historical donor, the U.S.'s cuts could force other nations to fill the gap while global humanitarian needs are at an all-time high post-COVID. The merger of USAID functions into the State Department risks politicizing aid distribution, weakening specialized development expertise, and compromising the institutions' trust and continuity.
As pandemic recovery remains incomplete in many low-income countries, where foreign aid is often a lifeline for healthcare infrastructure and economic stabilization, these reductions threaten to deepen global inequality and leave critical systems unprepared for future crises.
- The United Nations Development Programme’s annual report, released in 2024, warned that the recovery from the COVID-19 pandemic shock was losing pace, potentially leading to a longer duration of the pandemic's aftermath.
- The United Nations High Commissioner for Refugees (UNHCR) faces a challenging year in 2024 due to budget cuts and staff reductions, which may impact shelter, healthcare, and resettlement programs for displaced populations.
- Politicians and policymakers worldwide will need to take decisive action to counteract the devastating consequences of the United States' cuts to foreign aid programs in 2024, as these reductions threaten to deepen global inequality and leave critical systems unprepared for future crises.
- As we move past the 2024 elections and into the future, it is crucial for the general news media to closely monitor policy-and-legislation developments regarding US foreign aid and their potential impact on the worldwide pandemic recovery and human development.
