Declining Human Development
UNDP's latest report reveals that Human Development (globally) has fallen back to 2016 levels
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The latest Human Development Report by UNDP highlights the devastating impact of COVID-19 on human development. For the first time ever, 9 out of 10 countries in the world saw their human development index declining.
For the first time in 32 years (since UNDP is calculating), the Human Development Index, which measures a nation’s health, education, and standard of living, has declined globally for two years in a row. Over 90% of countries registered a decline in their HDI score (Pakistan is also among them) in either 2020 or 2021 and for more than 40% it declined in both years.
According to Achim Steiner, UNDP Administrator:
The world is scrambling to respond to back-to-back crises. Immediate relief tactics are delaying the long-term systemic changes we must make. We are collectively paralyzed in making these changes. In a world defined by uncertainty, we need a renewed sense of global solidarity to tackle our interconnected, common challenges.
GRAPHIC OF THE DAY
Pakistan's average annual HDI growth (%) has been the lowest from 2010 to 2021 compared to the previous two decades (2000 to 2010 and 1990 to 2000)
INSTAGRAM POST
SBP's forex reserves increased significantly by 14.3% week-on-week — www.instagram.com
⚫ Inflows from International Monetary Fund (IMF) under Extended Fund Facility (EFF) Program allowed the total liquid foreign exchange reserves to surge by USD 1.07 billion
⚫ The current level of foreign exchange reserves is still very critical as it is barely enough to cover 1.25 months of import bill
View more
TWEET
🇵🇰 🌊 Some newly discovered towns in Balochistan (due to the floods) didn't even exist on the map due to zero infrastructure.
What Else We’re Reading
U.N. chief calls for 'massive' help as Pakistan puts flood losses at USD 30 billion (Reuters)
Pakistan forecasts economic growth to half following floods (Bloomberg)
About Us: Macro Pakistani is a data-driven research platform that aims to provide a basic understanding of Pakistan’s economy. If you have an interest in contemporary news but are currently overburdened with sensationalism and specialized vocabulary, we are the platform for you.
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