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UN Report: 2024 Could Errand Protracted Period of Low Growth

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UN Report: 2024 Could Errand Protracted Period of Low Growth

By: Michael Mike

A United Nations flagship economic report has raised an alarm that protracted period of low growth looms large, and could undermine progress on sustainable development.

According to the report released on Friday, weakening global trade, high borrowing costs, elevated public debt, persistently low investment, and mounting geopolitical tensions put global growth at risk.

The global economic growth is projected to slow from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024, trending below the pre-pandemic growth rate of 3.0 per cent, according to the United Nations World Economic Situation and Prospects (WESP) 2024, launched on Friday.

This latest forecast comes on the heels of global economic performance exceeding expectations in 2023. However, last year’s stronger-than-expected GDP growth masked short-term risks and structural vulnerabilities, according to the report.

The UN’s flagship economic report presents a sombre economic outlook for the near term. Persistently high interest rates, further escalation of conflicts, sluggish international trade, and increasing climate disasters, pose significant challenges to global growth.

The report stated that the prospects of a prolonged period of tighter credit conditions and higher borrowing costs present strong headwinds for a world economy saddled with debt, while in need of more investments to resuscitate growth, fight climate change and accelerate progress towards the Sustainable Development Goals (SDGs).

Reacting to the report, the United Nations Secretary- General, António Guterres, said: “2024 must be the year when we break out of this quagmire. By unlocking big, bold investments we can drive sustainable development and climate action, and put the global economy on a stronger growth path for all,” adding that:
“We must build on the progress made in the past year towards an SDG Stimulus of at least $500 billion per year in affordable long-term financing for investments in sustainable development and climate action.”

The report stated that growth in several large, developed economies, especially the United States, is projected to decelerate in 2024 given high interest rates, slowing consumer spending and weaker labour markets. The short-term growth prospects for many developing countries – particularly in East Asia, Western Asia and Latin America and the Caribbean – are also deteriorating because of tighter financial conditions, shrinking fiscal space and sluggish external demand.

Low-income and vulnerable economies are facing increasing balance-of-payments pressures and debt sustainability risks. Economic prospects for small island developing States, in particular, will be constrained by heavy debt burdens, high interest rates and increasing climate-related vulnerabilities, which threaten to undermine, and in some cases, even reverse gains made on the SDGs, according to the report.

The report further showed that global inflation is projected to decline further, from an estimated 5.7 per cent in 2023 to 3.9 per cent in 2024. Price pressures are, however, still elevated in many countries and any further escalation of geopolitical conflicts risks renewed increases in inflation.

In about a quarter of all developing countries, annual inflation is projected to exceed 10 per cent in 2024, the report highlighted, showing that since January 2021, consumer prices in developing economies have increased by a cumulative 21.1 per cent, significantly eroding the economic gains made following the COVID-19 recovery. Amid supply-side disruptions, conflicts and extreme weather events, local food price inflation remained high in many developing economies, disproportionately affecting the poorest households.

“Persistently high inflation has further set back progress in poverty eradication, with especially severe impacts in the least developed countries,” said United Nations Under- Secretary-General for Economic and Social Affairs, Li Junhua,.

He said: “It is absolutely imperative that we strengthen global cooperation and the multilateral trading system, reform development finance, address debt challenges and scale up climate financing to help vulnerable countries accelerate towards a path of sustainable and inclusive growth.”

According to the report, the global labour markets have seen an uneven recovery from the pandemic crisis. In developed economies, labour markets have remained resilient despite a slowdown in growth. However, in many developing countries, particularly in Western Asia and Africa, key employment indicators, including unemployment rates, are yet to return to pre- pandemic levels. The global gender employment gap remains high, and gender pay gaps not only persist but have even widened in some occupations.
Stronger international cooperation needed to stimulate growth and promote green transition.

It advised that Governments will need to avoid self-defeating fiscal consolidations and expand fiscal support to stimulate growth at a time when global monetary conditions will remain tight, adding that Central banks around the world continue to face difficult trade-offs in striking a balance between inflation, growth and financial stability objectives. Developing country central banks, in particular, will need to deploy a broad range of macroeconomic and macroprudential policy tools to minimize the adverse spillover effects of monetary tightening in developed economies.

Furthermore, the report emphasized that robust and effective global cooperation initiatives are urgently needed to avoid debt crises and provide adequate financing to developing countries. Low-income countries and middle-income countries with vulnerable fiscal situations need debt relief and debt restructuring to avoid a protracted cycle of weak investment, slow growth and high debt-servicing burdens.

It added that in addition, global climate finance must be massively scaled up. Reducing – and eventually eliminating – fossil fuel subsidies, following through on international financing commitments, such as the $100 billion pledge to support developing countries, and promoting technology transfer are critical for strengthening climate action worldwide. It also underscores the ever- increasing role of industrial policies to bolster innovation and productive capacity, build resilience and accelerate a green transition.

UN Report: 2024 Could Errand Protracted Period of Low Growth

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River guard killed in Yobe, police begin investigation

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River guard killed in Yobe, police begin investigation

By: Zagazola Makama

A 40-year-old man, Musa Mohammed, has died after being allegedly attacked and thrown into a river by unknown assailants in Bursari Local Government Area of Yobe State.

Residents of Girim Village, Ya’u Gambo and Adamu Muhammad, told Zagazola Makama that the incident occurred at about 8:00 a.m. on Jan. 19, when the victim, who was employed to guard the village river, was confronted by some unidentified persons.

They said the attackers forcefully held Musa Mohammed, tied his hands and legs, and threw him into the river.

The sources added that about a month earlier, the deceased had a misunderstanding with five men from Dadigar Village in Bursari LGA, who allegedly warned him to stop guarding the river or face consequences.

Upon receiving the report, security operatives visited the scene and evacuated the victim from the river in an unconscious state.

“He was rushed to the Specialist Hospital in Gashua, where a medical doctor later confirmed him dead,” the sources said.

Photographs of the deceased were taken, and his remains were released to his relatives for burial according to Islamic rites.

Musa Mohammed was from Burburwa Village via Mayori in Yusufari Local Government Area of the state.

Investigation into the incident has commenced to identify and apprehend those responsible for the killing.

River guard killed in Yobe, police begin investigation

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At least 31 killed in Yatakala attack in Niger Republic

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At least 31 killed in Yatakala attack in Niger Republic

By: Zagazola Makama

No fewer than 31 persons have been killed following a deadly attack by suspected terrorists in Yatakala, Tillaberi Region of the Republic of Niger, near the tri-border area with Mali and Burkina Faso.

Sources told Zagazola Makama that the attack occurred on Jan. 18 in the Yatakala/Bolsi area of Tera Commune, where the assailants reportedly gathered residents together and opened fire on them.

The sources said that several other people, believed to be mostly women, were abducted during the attack, while five persons were injured as they tried to escape.

“They went from house to house, rounded people up and shot them. Those who managed to flee sustained injuries.

“Residents were rounded up and summarily executed, while an uncertain number mostly women, were abducted. At least 31 people were killed and five others injured as they fled,”one of the sources said.

The sources noted that Yatakala and surrounding villages toward the Burkinabe border had already been deserted by many inhabitants due to persistent attacks by armed groups.

No organisation had formally claimed responsibility for the latest atrocity, but the pattern and area of operation point strongly to Jama’at Nusrat al-Islam wal-Muslimin (JNIM), the Al-Qaeda-linked group active across the Liptako-Gourma axis

The area had previously come under attack on Jan. 3, 2026, when Yatakala/Garoul was assaulted and about 17 soldiers were reportedly killed.

Zagazola report that the Tillaberi theatre is under sustained pressure. The enemy appears intent on clearing large swathes of territory, forcing communities to abandon their homes and creating humanitarian corridors of displacement that terrorists then exploit for further expansion.

The attacks also draws to the attention of the accelerating expansion of jihadist violence across the Sahel and its dangerous spillover implications for Nigeria and the wider West African sub-region.

The attack fits into a broader campaign by both Al-Qaeda- and ISIS-aligned factions to dominate borderlands, forest reserves and riverine routes, particularly around the W Park–Panjari complex, with a creeping approach toward Niamey.

The strategic objective was to degrade state presence, terrorise civilians into flight, and establish uncontested movement and recruitment zones.

Its draws parallels with past atrocities, including the January 2025 killings in Kasuwan Daji in Borgu area of Niger State, allegedly carried out by JNIM in collaboration with JAS/Ansaru networks, as well as recent mass abductions at worship centres in Kurmin Wali, Kajuru LGA, Kaduna State.

These are not isolated incidents. They form part of a synchronised regional campaign aimed at destabilisation, psychological dominance and narrative warfare.

Zagazola warned that beyond the kinetic dimension, insurgents were also leveraging disinformation, including the manipulation of religious and ethnic narratives, to internationalise their cause and weaken regional cohesion.

The humanitarian crisis generated by these attacks will push refugees and internally displaced persons toward north-west and north-central Nigeria, with attendant security, social and economic consequences.

Therefore, Nigeria’s response must go beyond internal counter-terrorism operations to include strengthened diplomatic and security cooperation with Niger, Benin and other frontline states.

Border challenges cannot be curbed unilaterally. There must be deeper intelligence sharing, coordinated patrols and joint operations. ECOWAS and the Alliance of Sahel States (AES) must urgently re-engage on collective security mechanisms to contain this expanding threat,” he said.

Yatakala massacre was both a warning and a call to action.

If proactive regional measures are not taken, the Sahelian conflict arc will continue to bend southward, with Nigeria increasingly in the line of fire.

At least 31 killed in Yatakala attack in Niger Republic

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School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC

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School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC

Some students from the Special Education Centre in Gombe, have commended the Gombe State Government, and the North East Development Commission (NEDC), over ongoing renovation of their school.

The students told the News Agency of Nigeria (NAN) in Gombe, that the move would boost access to education for Persons With Disabilities (PWDs).

A NAN correspondent who visited the school, reports that there was ongoing renovation of facilities.

A visually impaired student of the Senior Secondary three class (SS3), Husseini Abubakar, said that the renovation sends a strong message of inclusion to them.

According to him, the ongoing upgrade of the school has renewed their hope in education and a better Nigeria, as emphasised by President Bola Tinubu.

“I was suprised to hear that our school is being renovated after many years of neglect.

“We had lost hope of any intervention, but see what Gombe State government and NEDC are doing; we lack words to express how we feel.

“Today, I feel that our President, Bola Tinubu’s statement of “let’s renew the hope” is being fulfilled in our school because our hope has indeed been renewed,” he said.

Another visually impaired student, Mr Ahmad Umar, noted that they use to share classrooms with junior students during the rainy season, following dilapidated classrooms.

“Some days, we prayed against rainfall so that we will not be beaten by the rain, but thank God the suffering has now ended, and a better structure is here,” he said.

He said that now, he feels relieved.

Another student with hearing disability, Mr Basesa David, who spoke through an interpreter, said he was happy that the days of cold were over

He noted that the rehabilitation of toilets facilities and regular water supply, would improve hygiene and health condition in the school.

“We are grateful, especially the female students who usually suffer severe cold from exposure and poor toilets; thank you Gov. Inuwa Yahaya of Gombe State and the entire leadership of NEDC,” he said

NAN reports that the school, a specialised institution in the state, was established in 1996, to cater for children with disabilities.

The renovation project, is aimed at improving access to inclusive, equitable and quality education for PWDs, who are learners in the state and the North-East.

The centre currently has a population of 615 students

School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC

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