As anticipated, nations in the global north are at the forefront of achieving the Sustainable Development Goals (SDGs), which consist of 17 worldwide targets established by the United Nations in 2015, whereas progress for countries in the global south continues to be challenging.
To hasten the achievement of the Sustainable Development Goals in Ghana, UN Global Compact Network Ghana organized a BusinessExecutivesDialogue in Accra with the theme
‘Funding Ghana’s Sustainable Future and Enhancing Private Sector Participation in the VNR Process.’
The financial plan created by the World Bank, United Nations Development Programme (UNDP), and various UN organizations in Ghana indicates that approximately US$522 billion needs to be raised to achieve the Sustainable Development Goals (SDGs) by 2030.
Mr. Peter Aidoo, an economist and Development Coordination Officer at the UN Resident Coordinator’s Office, asserts that the nation must secure approximately $43 billion each year to achieve the 2030 Sustainable Development Goals (SDGs).
Mr. Aidoo voiced his concerns regarding the significant amount of illegal financial activities draining resources from the nation—highlighting that these funds, if properly managed, could potentially close the financing shortfall. For instance, Ghana experienced an alarming loss of $14.39 billion due to such illicit transfers between 2011 and 2022.
Although the government’s dedication to the IMF program and the ongoing reforms, such as the abolition of the e-levy, deserve praise from the UN economist, they emphasized the urgent necessity of addressing the funding shortfall.
Achieving the Sustainable Development Goals (SDGs) by 2030 poses a major challenge for developing nations, largely because of substantial funding gaps as well as various hurdles such as debt crises, inequalities, and the effects of worldwide emergencies.
Low-income nations encounter a significant yearly funding gap amounting to billions of dollars for achieving the Sustainable Development Goals (SDGs), which greatly hampers their capacity to meet these targets. Despite the SDGs being a key element in development strategies, the question remains: How realistic is it to accomplish them given current circumstances?
A major obstacle to attaining the Sustainable Development Goals (SDGs) lies in the ongoing presence of inequity both domestically and internationally. Disparities in wealth, internal strife, uneven distribution of educational and medical resources, as well as prejudice rooted in gender, ethnicity, and economic standing all impede advancement towards numerous objectives outlined in these global targets.
Provided by Syndigate Media Inc. (
Syndigate.info
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