Developing nations risk backsliding in COVID recovery

Significance

These dynamics harm developing states disproportionately and are driving a rise in global poverty. Traditional recovery policies tend to be harmful for the environment; these are especially problematic today, because the time for decisive action on climate change is limited.

Impacts

• The UN saw developing states growing by 5% in 2015-30 at the SDG launch; this was not met by 2020 and is highly unlikely by 2025.
• In low-income states, debt interest payments doubled as a share of public revenue from 2008-17 and will rise more, squeezing other spending.
• Climate benefits of less activity were short-lived in past crises, and rebounds climate-unfriendly; clear climate targets should help now.