Wednesday, March 30, 2011

UN Says Half Of World's LDCs Can Escape Poverty By 2020

According to a recent report by the Group of Eminent Persons, appointed by UN, half of world's 48 least developed countries (LDCs) can escape poverty within 10 years if they can benefit from globalization. The objective may seem difficult but the UN Secretary-General said, “This is the time for global solidarity to achieve progress even in the poorest countries of the world, which will go a long way in advancing global prosperity and security.” It can be noted that, there have been 51 LDCs since the category was created by the UN in 1970, and only three, Botswana, Cape Verde and Maldives have graduated since then.

The report shows that while developed countries are progressing continuously, the least developed ones are showing flat-line growth. In this era of globalization this marginalization of poor countries is a serious threat to the world's future. The report proposed some measures that can help LDCs to graduate from their poor status, adequate, prioritized and better targeted development assistance; duty- and quota-free access for LDC exports; doubling farm productivity and school enrolment; and beefing up the developmental and democratic capacities of LDC governments. Most of these countries have already started practising democratic culture, therefore, it is high time that they start benefiting from the advantages of globalization.

-Nisha Noor