Goal 17: Partnerships to achieve the Goal

A stronger U.S. dollar will likely exacerbate inflationary pressures, worsen fiscal and external balances and hinder recovery in developing countries, undermining their prospects for achieving the Sustainable Development Goals.

The force of the US expansion is reverberating across the world through trade and financial channels. As the recovery picks up speed, concerns over rising inflation and interest rates in the US are increasing.

While least developed countries have up to now successful to limit direct health impacts of the COVID-19 pandemic, the socio-economic fallout has been extremely hard.

Elevated inequalities place countries in a more vulnerable position to confront the pandemic. Going forward, fighting inequality will be crucial for reducing vulnerability to health and other emergencies and for enhancing the resilience of societies.

The jump in deposits in 2020 can largely be attributed to the temporarily increased savings of the non-financial businesses and households amid limited spending and investment opportunities and to strong liquidity preferences and high risk-aversion during the crisis.

The world registered a record reduction of energy-related CO2 emissions in the first half of 2020. However, this year’s reduction is projected to be a one-time dip, and only has an infinitesimal impact on the buildup of atmospheric CO2

GDP growth in developed countries will plunge to –5.0 per cent in 2020, while output of developing countries will shrink by 0.7 per cent. The projected cumulative output losses during 2020 and 2021—nearly $8.5 trillion—will wipe out nearly all output gains of the previous four years. The pandemic has unleashed a health and economic crisis unprecedented in scope and magnitude.

According to the WESP 2020, sluggish global growth threatens sustainable development; 1 in 5 countries will see per capita incomes stagnate or decline this year, notably in Africa, Latin America and parts of Western Asia; across the world, many policies continue to encourage the use of fossil fuels

The CDP Secretariat participated in the regional workshop jointly organized by the WTO Secretariat in collaboration with the Pacific Islands Forum Secretariat (PIFS) in Vanuatu.