by Thalif Deen

UNITED NATIONS, Jun 13 2022 (IPS) – As one of many world’s foremost worldwide humanitarian organizations, the United Nations has pledged to supply meals and medicines to cash-strapped Sri Lanka –a rustic affected by a serious monetary disaster.

As of final week, a UN group, led by the Resident Coordinator in Colombo, Hanaa Singer-Hamdy has appealed to worldwide donors for greater than $47 million in “life-saving help” to 1.7 million individuals in a rustic with a inhabitants of over 22 million.

This stands in distinction to the staggering $5.0 billion the federal government is searching for for the island’s financial survival throughout the subsequent six months—primarily for meals, gasoline and fertilizer.

Final month, the UN introduced that with a $1.5 million donation from the Authorities of Japan, the UN’s youngsters’s company UNICEF will procure medicines for over 1.2 million individuals, amongst them 53,000 pregnant moms and practically 122,000 youngsters with rapid medical wants.

The World Meals Programme (WFP) is predicted to obtain about $1.5 million from Japan to supply meals help to youngsters and households in want of help.

As well as, Australia has made accessible the equal of practically $5 million for meals safety, important medicines for girls’s well being, diet knowledge assortment and evaluation with UN companies working collectively, together with the Meals and Agriculture Group (FAO), the World Meals Programme, the World Well being Group (WHO), the UN Inhabitants Fund (UNFPA) and the UN Youngsters’s Fund.

At present, a few of the UN’s largest assist recipients are both nations embroiled in army conflicts similar to Ukraine, Afghanistan and Yemen – or the 46 member states categorized as Least Developed International locations (LDCs), “the poorest of the world’s poor”.

Nearly all of LDCs are from Africa, together with Angola, Rwanda, Zambia, Burkina Faso, Ethiopia, Somalia and the Central African Republic, whereas the LDCs from Asia embody Nepal, Bhutan, Bangladesh, Myanmar and Afghanistan.

https://www.un.org/improvement/desa/dpad/least-developed-country-category/ldcs-at-a-glance.html

In accordance with revealed reviews, Sri Lanka’s overseas change reserves have hit a low of $1.9 billion, equal to funds that might finance lower than one month’s imports whereas its debt service repayments quantity to about $6.9 billion. Final month, Sri Lanka defaulted on its debt repayments for the primary time in historical past.

An editorial within the Sri Lanka Sunday Instances put the issue in its proper perspective: “As soon as known as the ‘Granary of the East’, Sri Lanka can be contemplating tapping the SAARC Meals Financial institution – from the buffer shares of India, Pakistan and Bangladesh. The nation isn’t solely financially bankrupt, it’s going through a famine in just a few months”.

“From a middle-income nation not way back, it has come to this”, mentioned the editorial. “What an inglorious comedown for the nation and humiliating stigma for its individuals no higher personified by the presence of its Overseas Minister and chairman of the ruling occasion accepting a container of meals assist from overseas on the Colombo harbour”.

“Led to by stupendously irresponsible agricultural coverage decision-making on the highest ranges of Authorities, it’s now humble-pie that’s left to be eaten as Sri Lanka appeals to the world for meals within the midst of a world financial system going through recession, inflation, and a hurricane of shortages of oil, gasoline and wheat.”

Ought to Sri Lanka, lengthy designated by the UN as a “middle-income nation,” be heading in direction of the ranks of the 46 LDCs?

In an interview with IPS, Ambassador Anwarul Ok. Chowdhury, former Everlasting Consultant of Bangladesh and the primary Underneath-Secretary-Normal and UN Excessive Consultant for LDCs, Landlocked Creating International locations and Small Island Creating States, responded to questions on the advantages and privileges of being an LDC.

“LDCs profit from unique worldwide help measures (ISMs) within the areas of commerce, improvement cooperation and participation in worldwide organizations and processes.”

Such measures within the space of commerce, he identified, embody preferential market entry for items and providers; particular remedy underneath World Commerce Group guidelines and sure regional commerce agreements; and technical help and capability constructing.

A spread of monetary and technical help offered by multilateral and bilateral companions, similar to particular programmes and finances allocations on the UN, together with the Expertise Financial institution for LDCs and Fund for LDCs, established by the United Nations Framework Conference on Local weather Change (UNFCCC). Help for debt cancellation and/or debt rescheduling are additionally accessible for LDCs, he added.Different help measures assist LDCs take part in worldwide boards, similar to caps and reductions on contributions to the finances of the United Nations and monetary help for representatives of LDCs to journey to Normal Meeting and different conferences, mentioned Ambassador Chowdhury, who was additionally Senior Particular Adviser to UN Normal Meeting President (2011-2012).

Excerpts from the interview:

Q: Do you suppose that Sri Lanka, which has appealed for humanitarian help from the UN, might find yourself being a global basket case?

A: It isn’t conceivable that Sri Lanka would turn out to be a global basket case. But it surely must steer away from the man-made, to say extra straight, the present corruption-driven financial system, in the precise path to return to its regular creating socio-economic improvement of yesteryears.

Among the many eight members of SAARC solely three aren’t LDCs, however among the many different 5 LDCs, the Maldives have already “graduated” out of the LDC class and Bhutan, Nepal and Bangladesh are scheduled to graduate by 2026 (as their economies enhance).

Being the sufferer of a catastrophic financial mismanagement mustn’t immediate Sri Lanka to consider searching for an LDC standing. The United Nations defines LDCs as nations which have low ranges of earnings and face extreme structural impediments to sustainable improvement.

Q: If the state of affairs continues to deteriorate, what are our possibilities of becoming a member of the 46 LDCs?

A: Becoming a member of the LDCs group contain an extended course of and requires success of all three standards to be eligible. In accordance with the UN, these three are:

1. Revenue: International locations should have a median per capita earnings (GNI) of beneath USD$1,018 for inclusion, and above USD$1,222for commencement.[The Gross Domestic Product per capita in Sri Lanka was last recorded at 4052.75 US dollars in 2020.]2. Human Property: International locations should even have a low rating on the Human Property Index (HAI), a device that measures well being and training outcomes, together with under-five mortality charge, maternal mortality, grownup literacy charge and gender parity for secondary college enrolment. [Sri Lanka is much above the “60 or below” threshold.]3. Financial and Environmental Vulnerability: International locations should rating excessive on the Financial and Environmental Vulnerability Index (EVI), which measures elements like remoteness, dependence on agriculture and vulnerability to pure disasters.[ Sri Lanka is below “36 or above” threshold. The current economic downturn and challenges faced by Sri Lanka may not fully fit the country’s EVI threshold]

IPS – How does this work? Does Sri Lanka have to use to the UN for LDC standing?

A: The Committee for Growth Coverage (CDP) critiques the listing of LDCs and makes suggestions for inclusion in and commencement from the class each three years.

In accordance with UN pointers, the timeframe of the eligibility process contains preliminary discovering that the nation satisfies inclusion standards; notifies the nation of its findings; prepares a rustic evaluation observe; gives a draft to the nation; finds the nation eligible and formally notifies the nation of eligibility conclusion; and the Normal Meeting lastly takes observe of the CDP suggestion.

Q: What’s the draw back of being an LDC?

A: In actuality, there isn’t any draw back besides the psychological notion of being categorized as one of many poorest nations. Some say that overseas direct funding (FDI) isn’t forthcoming.

If there’s a draw back, how come six nations have “graduated” from LDCs over time because the class was established by the Normal Meeting in 1971 and ten extra are within the pipeline for commencement by 2026.

IPS UN Bureau Report



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