OECD Development’s Post

How can Latin America reignite progress in reducing poverty? Despite significant achievements, the region still faces major challenges: 25% of the population remains in poverty, and factors like inflation, job informality, and uneven labor income growth are slowing progress. In his latest piece for Americas Quarterly, Hugo Ñopo, senior economist for the Poverty and Equity Practice Group at The World Bank, outlines key solutions: - Boosting economic growth through investment, technology, and innovation - Improving social protection with better targeting and adaptability - Creating pathways to formal, quality jobs via short-term support and long-term skill development As Ñopo indicates in his article, Latin America and the Caribbean has shown it can make significant progress —now is the time to act. Read more here: https://bit.ly/4fPZXBP #EndPoverty

Today's youth will have to live with the outcomes of decisions made now. Canada's delegations, such as the UN's #SummitoftheFuture in September, MUST include youth representation! Globally, 333 million children live in extreme poverty, and nearly 1 billion face multidimensional poverty. At the current rate, achieving the Sustainable Development Goals’ poverty targets is out of reach. Extreme and multidimensional poverty is exacerbated by conflict, crises, climate change, unstable economies, corruption, and lack of access to basic services. Youth leaders like Malala Yousafzai, Amanda Gorman, and Autumn Peltier speak about global issues that affect us all. Across the globe, children and youth are contributing to the resilience of their communities, advancing their own protection, driving social progress, inspiring political change, and proposing innovative solutions on the global stage. Listening to youth is essential because the current global system is not working. We urge Prime Minister @JustinTrudeau to ensure that Canada's delegation to the Summit of the Future this September and all future global Canadian delegations include a child or youth representative. @JustinTrudeau: let #YouthLead - they deserve to be at the table. #ReachEveryChild #Canada4Results #cdnpoli @ResultsCda

It’s not surprising the United Nations chose to mark International Day of Rural Women and International Day for the Eradication of Poverty in the same week. We know that if we build opportunities for women in agriculture, her family and community will thrive and her economy will grow. Quite simply, she is the key to tackling poverty. How can you help? Consider supporting Good Return’s financial literacy programs aimed at marginalised women in communities across Asia Pacific, often in remote rural regions. Click here to find out more - https://goodreturn.org.au/ 

Fragile countries are behind – and falling further behind – non-fragile peers in measures of poverty and #FinancialInclusion. By 2030, 26% of the world’s population and 86% of the world’s lowest-income people are expected to be living in fragile countries. ⚠️ In these settings, financial services providers face reduced revenues, higher operating costs and increased investment risk. Meanwhile, governments, overwhelmed by immediate crises, often lack the bandwidth for a long-term market strategy. That’s why funders can play an essential role in building inclusive, resilient financial markets in the long-term for low-income people in fragile countries. Read our key 3️⃣ recommendations for funders here: #FragileCountries

Executives doing business in Africa, take note! Even if it seems too theoretical, paying attention to World Bank-hosted webinars on issues like inequality is crucial. Understanding these issues can improve your ability to direct your firm towards future economic opportunities in Africa. Check out this video for a deeper understanding of Africa's fragile economic growth recovery, driven by household consumption, and comments on the need to build new value chains and improve energy access. While maintaining your current focus on opportunities related to commodities, direct your business development activities to accommodate Africa's future growth driven by DFI support for internal reforms, diversification, and value-added strategies. This means having a presence in more countries than just the usual suspects. Want to learn how to de-risk your deployment into multiple African countries? Check out our employer-of-record solution and our use of the latest trends in remote work and digital solutions. #Africa #BusinessDevelopment #EmployerOfRecord

Future leaders, understand this: empathy and collaboration are not just virtues but necessities. Listen intently to diverse perspectives and make decisions that empower every individual. Lead with unwavering integrity, ensuring every critical issue receives the attention and action it demands. This is the power that will drive true progress and ensure no one is left behind. "Lead with integrity, leave no one behind." #LeadWithIntegrity #EveryVoiceMatters #EmpathyAndCollaboration

It is clear that our economic systems are failing the vast majority of the world. They are pushing millions into poverty. Ruinous debt levels, austerity measures, and inadequate fiscal space impede countries from delivering basic human rights. People and their human rights must be at the centre of economic policymaking, with development benefits shared fairly. We must empower women and girls, and transform care and support systems. To leave no one behind, we need to build a human rights economy. The High-Level Political Forum #HLPF is underway at UN Headquarters in New York to track the world’s progress on the #GlobalGoals and discuss ways to accelerate progress. The discussions today focus on Sustainable Development Goals 1 and 2 – End Poverty & End Hunger. Sobering statistics show we are losing ground; past gains are being reversed. Learn more:

About 700 million people subsist on less than $2.15 a day. Interlinked crises have stalled efforts to reduce #poverty. Earlier this month, experts convened at the United Nations Office at Geneva to bring new ideas in the fight to #EndPoverty. A broader focus on growth incidence is key, also policies that invest in the productive capacity of the poor, and fiscal policies that work for all. Learn more here: https://bit.ly/3WSQdjn #SDG1 #GlobalGoals The World Bank, UN Trade and Development (UNCTAD), United Nations Department of Economic and Social Affairs

Fragile countries are behind—and falling further behind—their nonfragile peers in measures of poverty and #FinancialInclusion. By 2030, 26% of the world’s population and 86% of the world’s lowest-income people are expected to be living in fragile countries.  Funders can play a crucial role in alleviating poverty and improving resilience through #InclusiveFinance.  In contexts where building financial markets in the long term is a challenge, this working paper identifies three levers of change for funders:  ✅ Leveraging humanitarian cash transfers  ✅ Understanding informal financial services  ✅ Improving local market facilitation  Dive deeper into our working paper to learn more: https://cgap.pub/3UA3dHW  By William Cook, Dylan Lennox, Sara Murray & Souraya Sbeih

Globalisation has provided more affordable access to goods and services and helped to lift millions out of poverty. Yet, increasing economic activity has also put a strain on natural resources. Hear from Marisa Drew about the solutions we are implementing to facilitate a just transition that seeks to address these challenges whilst delivering sustainable, inclusive growth and prosperity across our markets. Learn more: https://lnkd.in/dpHe9m6b #ResettingGlobalisation #JustTransition