As the world is still gearing up to welcome 2024, let us find a moment to reflect on some of the key trends of the past year and pursue now to embrace the path towards hope and promise for everyone, everywhere.
Deepening global inequalities are having enormous socio-economic implications across countries. Increasing income and social disparities are spreading around regions. Growing intensities of climate induced natural disasters, the uneven speed of post-pandemic recoveries, and cost-of-living crises from conflicts and geopolitical tensions are exacerbating inequalities and poverty traps globally.
The changing distribution of economic benefits vis-?-vis the rising prices of food and fuel are causing social unrest and protests. Citizens are voicing their frustration not only in the streets of capitals but through exponential engagement on social media platforms.
With the intensification of various external shocks, and the lack of economic opportunities for accelerating growth and productivity surges, multidimensional poverty indices are on rise. The inequality-poverty nexus is contributing to a new form of uncertainty for disadvantaged households.