Human Development Report 2008

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In a Foreword of the Human Development Reports 2008, UNDP Administrator
Kemal Dervis, says, "The last year held great promise for developing
countries in their efforts to achieve the Millennium Development Goals
<http://www.undp.org/mdg/> (MDGs) and other development objectives. In
early 2007, the world economy was still in its third year of
exceptionally rapid growth, progress which has had a positive impact on
poverty reduction in general, and on the performance of the least
developed countries, in particular sub-Saharan African countries grew,
on average, at more than six percent in 2007. Robust growth in a number
of large developing countries, led by China, India and other members of
the "emerging South," gave further proof that rapid advancement towards
reducing poverty and achieving the MDGs is possible.

"By mid-2007, however, it was clear that developing countries would have
to respond to a great deal of uncertainty in the global economy. The
spread of the United States sub-prime mortgage crisis into a serious
financial sector crisis affecting the US and Europe, together with
serious concerns about the sharp slowdown in the advanced economies, in
the US economy in particular, now threatens to turn into a major setback
for poverty reduction. For many countries, the situation has been made
much worse by the soaring price of energy and food. Moreover, the
unavoidable expansionary macroeconomic policies that have been used to
respond to the financial sector problem have created inflationary
pressures throughout the world economy. Additionally, most donors are
now not on track to meet the commitments they made to scale up
development assistance and will need to make exceptional increases to
meet the targets they have agreed for 2010.

"The nature of today's global economy highlights our interdependence and
the need for much better global policies. Yet each country also has to
address its own particular set of challenges."

Click the link to download Human Development Report 2008:
http://www.undp.org/publications/annualreport2008/pdf/IAR2008_ENG_low.pdf

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ASIAN YOUTH COUNCIL
Email : asiayouth@asiayouth.org
Blog : http://www.asiayouth.blogspot.com

AYC is an NGO in consultative status with the United Nations' Economic
and Social Commission.